Airbnb announced on Tuesday that it will be shutting down its business inside China by the end of July, as the country’s zero-Covid policy and lockdowns continue.
Airbnb co-founder and China chair Nathan Blecharczyk told the company's China-based users that the company would shut its domestic travel and experience listings by the end of July amid "pandemic challenges".
The co-founder announced the news in an open letter that was posted to the company’s WeChat account, where he clarified the company would maintain its Beijing office.
It's worth noting that Airbnb has registered about 25 million guests in China since it launched in the country in 2016.
And despite the company's continuous efforts to remain profitable in the country, it failed to compete against the local tycoons such as Tujia and Xiaozhu. According to a University of Queensland report published in 2021, Airbnb had about 150,000 properties listed in China by 2020 while its rival Tujia had about 1.2 million.
