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FCA probes Airbnb over financial crime controls
Reading Time: 2 minutesUK: UK regulator and City watchdog, The Financial Conduct Authority [ FCA ], has been investigating Airbnb’s money-laundering and counter-terrorist financing controls, it was revealed in the platform’s S-1 filing last week for a projected initial public offering [ IPO ] next month. The FCA scrutinised Airbnb over concerns that the UK division’s safeguarding controls […]
Airbnb files for long-awaited IPO
Reading Time: 2 minutesUS: Following years of speculation and anticipation, Airbnb has submitted the necessary documents for its initial public offering [ IPO ], which is scheduled to take place in December and raise up to $3 billion for the global home-sharing platform. The filings also laid bare the scale of the financial impact caused by the Covid-19 […]
Airbnb internal glitch cancels trips after account deactivations
Reading Time: 2 minutesWorldwide: An internal glitch during “routine maintenance” on the Airbnb platform accidentally caused the cancellation of guests’ bookings and the deactivation of some user accounts Airbnb allayed fears that the glitch was a hack or data breach, saying that it was instead a “system issue” that affected “a very small subset of user accounts”. […]
JetBlue to diversify into short-term rentals
Reading Time: 2 minutesUS: American low cost airline JetBlue Airways is planning to diversify its travel product offerings into short-term rentals with an as-yet unnamed partner from the industry. Under the proposals outlined by JetBlue Travel Products president Andres Barry at a Morgan Stanley conference, the company would provide rental accommodations through its own brand, and operate customer […]
Airbnb IPO filing “delayed until next week”
Reading Time: < 1 minuteUS: Airbnb’s much anticipated filing for an initial public offering [IPO] has reportedly been delayed until next week, according to sources close to the matter. The home-sharing platform was originally planning to file for the IPO at the US Securities and Exchange Commission on Thursday [12 November] but sources have told Bloomberg that the delay […]
Airbnb subject of class action lawsuit from Michigan firm
Reading Time: 2 minutesUS: A Michigan law firm has filed a class action lawsuit on behalf of US Airbnb hosts alleging that Airbnb “improperly seized funds for Covid-19 cancellations” and has “often held onto that money rather than distributing it as full refunds to guests despite its promises to do so”. Traverse Legal, which has offices in Detroit and Traverse City, and Gibbs […]
Airbnb potentially targeted in Digital Services Act
Reading Time: 2 minutesEurope: The Dutch government have recommended that the European Union specifically target Airbnb in its new Digital Services Act. It alleges that greater data openness will allow it to better manage the side effects of the short-term rentals market. Regulators have been proposing greater regulations on big tech since 2017, with the specific Digital Services […]
Airbnb blocks more than 800 UK listings flouting rules
Reading Time: 2 minutesUK: Airbnb has announced that it has removed or suspended more than 800 listings in the UK following a crackdown on so-called “party houses”. According to the company, the number includes listings that have received complaints or violated policies on parties and unauthorised events, which are “explicitly” banned on Airbnb. In a further commitment to […]
Robin Clifford joins Nestor as head of expansion: Q+A
Reading Time: 6 minutesUK: London-based property management company Nestor has announced that Robin Clifford, former Airbnb supply lead for N. Europe & MEA, has joined the company as its head of expansion. Following the announcement, ShortTermRentalz caught up with Clifford, one of Europe’s most engaging vacation rental stage speakers, and Nestor co-founder Fran Milsom to discuss the new hire […]
Transparent analysis: The state of Airbnb at IPO
Reading Time: 9 minutesWorldwide: Vacation rental data provider Transparent provides its insights into Airbnb’s imminent IPO and analyses how it has been able to reach this milestone in its development. Airbnb’s IPO marks a milestone in the travel industry and consumer internet as a whole. By redefining traveller expectations and establishing a new type of lodging, Airbnb built […]