The startup was hit by the COVID-19 pandemic in early 2020 and its business dropped by 80% in a little over eight weeks. However, as lockdowns eased, more travellers opted to book homes instead of hotels, helping Airbnb post a surprise profit for the third quarter. Shares of Airbnb rose as much as 10% to record high of $187.42 on Thursday. Airbnb made the decision of after consulting local and federal officials and after a number of hosts worried about potential attacks sought to cancel bookings. However, major hotel chains including Hilton Worldwide Holdings Inc and Marriott International have said they planned to uphold existing reservations.

Source: bd News24 January 14, 2021 20:26 UTC