September 22, 2014

Europe emerges as Airbnb’s core market


While Airbnb has run into most trouble on its home turf, with oppositions in New York and San Francisco, Europe now accounts for around 55pc of Airbnb revenues, where the company encountered a warmer regulatory reception.

“We’ve had a much, much better experience in Europe,” says Brian Chesky, CEO of Airbnb. “I don’t know why. “I think it may be something to do with this concept being newer to the US than it is to Europe.

“In a way this has been part of the European culture for centuries, if you think of the roots of B&Bs here and dozens of countries so close together. In a city like London there’s a lot of good will.”

Airbnb’s investors have recently backed Chesky to overcome any regulatory hurdles with a cash injection of $500m (£306m) that valued the company at $10bn. It has allowed the company to put talk of a flotation firmly on the back burner and focus on its international expansion plans, a big marketing push and new services that will take the company beyond the accommodation market.

Get the full story at the Telegraph