Airbnb Japan Listings Rebound
Airbnb Inc. says it’s back in business in Japan, a year after stricter home-sharing regulations forced it to freeze a major portion of its listings in the country. There are 50,000 listings available in the country, with another 23,000 rooms in hotels and traditional inns known as ryokan, Airbnb said in a statement on Thursday. That’s compares with 60,000 total in June 2018, when the new home-sharing rules went into effect. While Airbnb is no stranger to clashes with regulators, it had tried a more cooperative approach in Japan. But the government set a deadline for hosts to register and then in June 2018 forced those that were unregistered to cancel reservations two weeks ahead of that date. Listings plunged by almost 80 percent to just 13,800. Airbnb, privately valued at $31 billion, is preparing to go public as early as the end of this year or by 2020 at latest, and argues Japan is an example of how its business model can withstand even the most restrictive regimes.
Tags : INTERNATIONAL