Airbnb Is Shutting China Business to Focus on Outbound Asia Travel
- China accounted for only 1% of revenue in last few years
- Operations were complex and worsened during the pandemic
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Airbnb Inc. is shutting its operations in China, choosing to focus instead on outbound Chinese tourism as the country continues its aggressive approach to containing Covid-19.
The San Francisco-based company will stop offering rental homes and experiences in the country this summer, according to a person familiar with the matter. But it will still maintain a presence in China with an office in Beijing as the company expects outbound tourism to improve when restrictions loosen. Airbnb launched its China operations in 2016, and the pandemic added to the difficulties and complexities of operating within the country, the person said.