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With the hospitality industry taking a hard hit during the last several months, it was a surprise to see Airbnb filing for an IPO this year.
After just two months into the pandemic, the company lost 80% of its sales and was left with reevaluating its business model.
In a time where hospitality leaders are alarmingly quiet, CEO Brian Chesky is betting on customers changing their travel habits by spending “a few months at a time in different places” post-pandemic.
In addition to its predictions, the company has moved its list of experiential offerings online and is transitioning its inventory to accommodate long-term rentals.
As there’s no real case study to follow, Airbnb aims to be the frontrunner in creating the future of hospitality.
You’re not always going to have a blueprint for the decisions you need to make. Sometimes you’ll have to either play it safe or double down on your core values and bet on yourself.