Tech

Corona crisis: Airbnb sales collapse by around half

The Corona crisis hits the Airbnb platform hard: data from the analysis company Airdna, the the Handelsblatt available exclusively, show a drop in sales on the platform for booking and renting accommodation with private hosts in several European countries by more than half between mid-February and mid-March. The hosts receive most of the revenue on the platform, Airbnb takes a fee that is usually between 14 and 20 percent.

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Travel is hardly possible anymore: the federal government has now issued a worldwide travel warning for tourist trips. Many European countries have closed their borders within the EU. Citizens of countries outside the EU are no longer allowed to enter EU countries.

In Germany, Airbnb sales in the week from Sunday, February 16 were € 31 million, in those from Sunday, March 15, it was only € 16 million. In France, the most important market for Airbnb in Europe, sales fell from 120 to 65 million euros. In Italy, sales decreased from 58 to 31 million euros, in Spain from 59 to 33 million euros.

With an investor valuation of around $ 35 billion, Airbnb is one of the most valuable startups in the world and is planning to go public this year.

The San Francisco-based company has according to information from the Wall Street Journal has lost hundreds of millions of dollars this year. An Airbnb spokesman said the company had it "$ 4 Billion Liquidity" and focus with the community to get through this crisis. Airbnb, according to the report, is considering raising capital from new investors and will have to lower its own valuation in the process.

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