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    ABNB   US0090661010

AIRBNB, INC.

(ABNB)
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Airbnb : and Vrbo announce partnership, address "party houses"

06/14/2021 | 04:22am EDT

Airbnb and Vrbo®, an Expedia Group company, today announced a partnership to develop the Community Integrity Program, an industry collaboration to address community safety by sharing important information on listings and strengthening action on the community threat posed by repeat "party house" offenders.

Both companies have worked separately to address the challenge of disruptive party houses that are repeatedly reported. Vrbo's Stay Neighborly and Airbnb's Neighborhood Support Line allows community leaders, neighbors and hosts to elevate issues. However, the challenge persists, as repeat offenders may be delisted by one platform, only to pop up on another. Neighbors don't care if a party house is getting its reservations through any particular platform -- they just want the parties to stop. That's why one platform alone can't solve this problem -- it requires an industry-wide effort.

The Community Integrity Program aims to solve that issue. Airbnb and Vrbo plan to work with a trusted third-party intermediary to develop a process that identifies properties that have been permanently removed from each platform due to repeated violations of respective community policies. The information will be available for each company to take the appropriate action. The program is intended to launch in the United States in the coming months.

Airbnb and Vrbo encourage other short-term rental industry platforms and peers to join the Community Integrity Program.

While rare, disruptive parties can meaningfully impact the community's quality of life. This pertains to a very small minority of short-term rental properties, however, for the neighbors these can be genuine neighborhood nuisances. Neither Airbnb nor Vrbo have tolerance for this type of irresponsible activity.

Industry collaboration is an important step in narrowing enforcement gaps and prioritizing the safety of the communities in which we all operate. This is the first step in building on an important foundation. Additional details about the Community Integrity Program will be coming soon.

You can find a version of this announcement on Expedia Group's Newsroom here and on Airbnb's Newsroom here.

About Expedia Group

Expedia Group, Inc. companies power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. The Expedia Group family of brands includes: Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, Egencia®, trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group(TM) Media Solutions, Expedia Local Expert®, CarRentals.com(TM), and Expedia Cruises(TM).

© 2021 Expedia, Inc., an Expedia Group company. All rights reserved. Trademarks and logos are the property of their respective owners. CST: 2029030-50

About Airbnb

Airbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to 4 million Hosts who have welcomed more than 900 million guest arrivals in almost every country across the globe. Every day, Hosts offer one-of-a-kind stays and unique Experiences that make it possible for guests to experience the world in a more authentic, connected way.

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
AIRBNB, INC. 0.38% 144.01 Delayed Quote.-2.27%
EXPEDIA GROUP, INC. -1.75% 160.87 Delayed Quote.23.66%
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Financials (USD)
Sales 2021 5 403 M - -
Net income 2021 -1 270 M - -
Net cash 2021 4 509 M - -
P/E ratio 2021 -71,6x
Yield 2021 -
Capitalization 87 276 M 87 276 M -
EV / Sales 2021 15,3x
EV / Sales 2022 11,8x
Nbr of Employees 5 400
Free-Float 31,1%
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Mean consensus OUTPERFORM
Number of Analysts 35
Last Close Price 143,47 $
Average target price 168,73 $
Spread / Average Target 17,6%
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Managers and Directors
Brian Chesky Chairman, Chief Executive Officer & Head-Community
David E. Stephenson Chief Financial Officer
Aristotle N. Balogh Chief Technology Officer
Tara Bunch Head-Global Operations
Jeffrey D. Jordan Independent Director
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