🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Airbnb says to help cities tax homesharers, ease home shortages

Published 11/12/2015, 04:49 AM
Updated 11/12/2015, 05:00 AM
© Reuters. Chesky CEO of Airbnb attends session of World Economic Forum in Davos
IHG
-
ACCP
-
MAR
-

PARIS (Reuters) - Airbnb has moved to head off conflict with tax-raising authorities, city councils and hoteliers worldwide as a two-day promotional event in Paris, the online home-sharing group's biggest market, gets under way.

In a statement on its web site dated Nov. 11, the company whose runaway success has turned the travel and hotel industry upside down announced plans to co-operate with cities to make sure homeowners pay their fair share of hotel and tourist taxes.

Founded only in 2008 but measured earlier this year as the third-most valuable venture capital-backed group in the world at over $25 billion, Airbnb also said it would help prevent its service from causing housing shortages by "ensuring hosts agree to a policy of listing only permanent homes on a short-term basis".

The announcement comes just a week after the company unveiled plans to form 100 home-sharing clubs in cities across the United States during 2016, a move aimed at giving advocates of home- and room-sharing companies a stronger voice to head off regulatory crackdowns.

The website is expected to have about 80 million nights booked this year, double the number in 2014, investors familiar with the company's performance told Reuters in September.

The company says it has more than 1.5 million listings - homes, apartments, guest rooms, even houseboats and tree houses - in more than 34,000 cities in 190 countries.

San Francisco, California-based Airbnb says its biggest destination is Paris, with more than 40,000 listings there. It already said in August it would begin collecting and remitting tourist taxes from guests on behalf of rental apartments in the French capital.

© Reuters. Chesky CEO of Airbnb attends session of World Economic Forum in Davos

In many cities it is seen as a competitor to independent hoteliers and to international hotel groups like InterContinental (L:IHG), Marriott (O:MAR) and Accor (PA:ACCP).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.