Airbnb has bigger concerns than the scenario of one more big city, Chicago, that is potentially tightening its short-term rental restrictions. But such an action certainly wouldn't help.
The Skift Health Score ranked Booking Holdings as the overall leader in August among 100 public travel companies but the entire travel industry faces grave uncertainties. Then there's that little search engine Google, which has an even larger travel business than Booking.
Message delivered: If Airbnb is concerned about the market's rollercoaster ride and the timing of its going public, then Bill Ackman's Pershing — and other special purpose acquisition companies — could take a little of the anxiety out of the process.
Short-term rentals may be outperforming the hotel industry through the peak summer leisure season, but a fall downturn in family vacations could extend the drag on performance to platforms like Airbnb and Vrbo.
If the future of travel will tilt toward non-urban destinations, which are not Airbnb's strength, its stock market registration papers will have to show how the company is addressing that weakness.
Sometimes CEO views of where online travel is headed seem more about the capabilities of their companies than anything else. Will pandemic-induced travel preferences make for dominant trends five or 10 years from now? Highly doubtful.
Deep-pocketed Google clearly didn't appease suffering travel advertisers in any meaningful way because it didn't have to — it's Google. Don't look for Google to find religion in terms of being a more collaborative partner perhaps until regulators would take it down a peg.
Special purpose acquisition company, direct listing or an initial public offering — Airbnb's choice mostly matters to big-name investors and employees, past and present. But nothing is ever certain about a stock market listing — especially during a pandemic.
Tapping one person to head "hosting" for both homes and experiences isn't the most savvy of moves. Airbnb has a ton of work to do to mend relations with alienated home rental hosts. Experience hosting is likewise complex — and a very different animal.