COVID Pivot. Short Term Rentals.

What takeaways can be found in Airbnb’s COVID pivot?

• Pay attention & Don’t panic.
  • Urban residents wanted get aways that were in driving distance.
  • Shared spaces of hotels were being shunned
  • The pivot: focus on local stays
  • Listen to your customers: The company reimbursed 1/3 the value of canceled stays
  • Continued efforts concerning local & state regulation
• Act fast
  • Investors react favorably
• Adapt to Work from Home
  • People will have more flexibility
  • People will look to explore nearby
• Communicate with your Employees
  • Open and robust communications
  • Treat your employees well, even those that you lay off with lucrative packages, health care, and active & ongoing assistance to connect the former employees to new employers

Wall Street Journal | How Airbnb Pulled Back From the Brink