Airbnb to Shutter Domestic Business in China: Report

"Airbnb is closing its domestic business in China, according to two sources familiar with the matter," reported CNBC's Deirdre Bosa on Monday. According to the report, the pullout from China would shut both Airbnb's travel lodging rentals and its tours and activities offerings.

China has become the first geographic market for short-term rentals that Airbnb has lost to rivals. Its biggest rival in domestic mainland China has been Tujia.

Airbnb may regret giving up the fight. Consider what happened to Uber after selling its local business to Didi Chuxing, a homegrown rival. Di