Monday 2 November, 2020 TOP STORY RockSTRz four review: Around the world in 60 mins Read our review of the fourth RockSTRz webinar here, which featured a stellar panel including Vrbo and OYO Vacation Homes. Don't forget to contact me at paul@internationalhospitality.media if you'd like to be considered for the next series in early 2021. If you missed our last newsletter....
1. Airbnb to list shares on Nasdaq ahead of IPO 2. Limehome increases Series A funding to €31m 3. BOOM raises $7m in Series A funding round 4. Join our LinkedIn group here 5. Airbnb shifts to host-only fee structure in Europe
Editor's comment
02•11•20 Welcome to the latest ShortTermRentalz newsletter!
• As news starts to filter out about Airbnb's upcoming IPO, CEO Brian Chesky's decision to create a host advisory board and endowment for the platform's four million hosts is not only a sign of appeasement to the host community but also a clue about the future direction the platform will take.
The board, which will include 15 VIP Airbnb hosts, has been set up strategically in the weeks leading up to the offering at a time when the company's relationship with its host community has arguably never been more fraught. Earlier in the year, there was a heavy backlash from hosts when Airbnb issued a blanket refund policy allowing guests to cancel their bookings immediately with no fee, and the company quickly backtracked by setting up a $250m support fund on their behalf.
Chesky's statement that hosts will have a "seat at the table" and the "opportunity to take part in our company's success" through the advisory board and endowment fund [which will include 9.2 million shares from Airbnb] implies that the company is keen to prioritise guest feedback and rebuild its tarnished reputation, thereby improving its standing with investors and giving it the best chance of raising the $3 billion it is targeting in its IPO.
• Meanwhile, Boris Johnson's announcement that England will be going into another lockdown for a month will be another bitter pill to swallow for an already-bruised hospitality sector.
The lockdown, effective from 12.01am on Thursday, will see the closure of non-essential retail, leisure and entertainment venues, bars, pubs and restaurants, while overnight stays - apart from within a support bubble - will be banned in the UK and abroad. While the move is now seen by the government as essential to put the infection rate back below R1, it represents a significant blow to the industry and its leaders who have been stating the case for staycations in confined, self-catered accommodation since the first lockdown was eased.
• Last week, we also confirmed that our annual Shortyz Awards would be returning for 2021 with six new categories being announced. The entry period for the Shortyz will open later this month and further details about what you can look forward to for our 2021 event will be announced shortly.
Do get in touch with me at paul@internationalhospitality.media if you would like more information and if you would like to be considered to contribute for our second RockSTRz series, returning early in 2021.
If you have a story you want us to tell the industry, please click here or contact me at my email below.
Paul Stevens, editor
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