Airbnb Reportedly Closing Domestic Business in China: CNBC By Investing.com

Airbnb Reportedly Closing Domestic Business in China: CNBC

Stock Markets May 23, 2022 02:10PM ET

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Airbnb Reportedly Closing Domestic Business in China: CNBC

By Yasin Ebrahim

Investing.com -- Airbnb reportedly will shut down its domestic business in China by this summer, CNCB reported, citing unnamed sources.

Airbnb (NASDAQ:ABNB) was marginally higher following the report.

All listings in mainland China including homes and experiences will be taken down by this summer, the report said.

The move will help the company focus its efforts on Chinese outbound travel, which presents a more lucrative opportunity. Stays in China make up about 1% of revenue.

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Comments (1)

Special Forces May 23, 2022 4:06PM ET

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Sound decision to pull the plug on China at this time.

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