Airbnb (ABNB)’s first quarter as a public company was defined in terms of the creative ways people travel during the pandemic. Compared with its counterparts in the traditional hospitality sector, the increase in nearby road trips to more remote areas and long-term accommodation gives this rental company an advantage.
However, the upcoming vaccination raises the question of whether these patterns of adoption will continue to exist in the post-coronavirus world.
Airbnb co-founder and CEO Brian Chesky told Yahoo Finance on Friday: “The boundaries between travel and life are beginning to blur,” he noted, and more and more travelers are staying at Airbnb for weeks or several month.
The blurring of these boundaries is due in part to the fact that some workers can complete their work remotely, such as Airbnb from Alaska, rather than crowded New York City apartments. Chesky believes that after the pandemic, many employees will continue to work remotely for at least part of the time.
He said: “I think that for any company that has said that we are going back to the past, I think it̵
By the fourth quarter of 2020, Airbnb reported revenue of US$859 million, which easily exceeded revenue expectations, but still fell 22% year-on-year. The company’s total booking value was US$5.9 billion, a year-on-year decrease of 31%.
Chesky believes that as more and more employees can work remotely or adopt a more nomadic lifestyle during the three-day weekend, employers will have to adjust to the new normal.
“My idea is that employees are responsible, not the company. Employees and the talent market will drive work flexibility, not the company. Because if the company says these are our rules, then they won’t have talent.” Chesky said he He added that he believes that most companies will eventually adopt a hybrid model to allow more remote work.
This new way of thinking has greatly benefited two-sided platforms, and Chesky said he is also implementing more and more flexibility for Airbnb’s own employees. Although entrepreneurs and technology companies have fled San Francisco and chose Florida, Colorado and Texas instead, he has no plans to move the company out of California.
He said: “There is no doubt that there will be greater flexibility. I think the idea of having to be anywhere is changing. The current location is the Internet, and the necessary location is on Zoom.” “I think what will happen is that all companies, including us, in general will be more flexible in talking about where people live and how they work.”
Melody Hamm I am a reporter for Yahoo Finance on the West Coast, covering entrepreneurship, technology and culture.Follow her on twitter @melodyhahm And on LinkedIn.
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