The hotelier of the future is movin’ on up — but not without a fair share of controversy. This week, the company pumped out 2 big wins and one potentially big loss. Here’s the latest.
Win: They doubled their revenue
The cool-kid of home renting companies is continuing their profitability: at $1B, their Q3 revenue doubled last year’s ($500m).
Airbnb has managed to keep a steady profit going for the past 17 months, straight, which is incredibly important as the business moves closer and closer toward an IPO.
Win: They’re pushing toward accessibility for everyone
This week, Airbnb acquired the accessible accommodation company, Accomable — often dubbed “Airbnb for disabled people” — for an undisclosed amount.
According to the London-based startup’s website, Accomable will now “work with Airbnb hosts around the world to find properties that could have suitable accessibility features.” Their first order of business: to suss out homes on the Airbnb platform with the potential to accommodate those in wheelchairs.
Loss: Vancouver pumps the breaks
Vancouver moved to limit short-term rentals this week, due to the city’s severe housing shortage — a move that could directly affect Airbnb’s business interests there.
With high housing rates and an abnormally low vacancy rate for both apartments and housing, the city hopes these restrictions will free up more long-term rentals and help protect any further loss of rental units.