After a rocky 2018, Airbnb Inc finally has announced a recovery in their accommodation listings in Japan. The last year wasn’t a great time for the company because of the strict rules imposed by the Japan government.
This rule capped the home sharing tenure to 180 days a year and asked every host to register with the government. As a result of this rule, Airbnb listings dropped drastically. From a whopping 62,000, it came down to a lot less than expected.
The situation further deteriorated for the company when a lot of travelers were left without any place to stay, putting the company in a bad light.
Regulatory Grey zone companies are under a strict radar in Japan which has hampered the functioning of “sharing economy” Start-ups.
Now that bad days are likely to be over, Airbnb co-founder and Chief Strategy officer Nathan Blecharczyk mentioned that having its properties other than tourist destinations can help strengthen certain regions of Japan. It would help reuse the millions of empty homes and attract more travelers.
Blecharczyk also mentioned that the company might go public like Uber Technologies and Lyft Inc who also suffered in their market performance because of the listing. But he doesn’t confirm a date.
Reaching up to 1,00,000 cities around the world, Airbnb is going on a steep rise due to the heavy amount of profit they are gaining for the last few years.