With China under the lockdown of the coronavirus outbreak, Airbnb has decided to suspend all bookings in the capital city of Beijing until Feb 29. The company has also issued refunds to all the people who had to cancel them due to local regulatory rules.
San Francisco-based real estate rental giant Airbnb has recently all of its check-ins at Beijing listing until March 2020. The recent move comes in accordance with the local regulations which seek to curb the spread of the coronavirus outbreak.
Originating from the Wuhan city of China, the Coronavirus has turned deadly with nearly 900 official deaths and over 25,000 people infected. Besides, there have been traces of the virus spreading to other parts of China and also the world.
Airbnb has said that it will completely refund the money to all those who have been affected or travelers who had to cancel their bookings. Airbnb’s local Chinese competitor Xiaozhu is also taking similar measures and shutting down all rentals until February end.
In an official statement to Bloomberg News, Airbnb said:
“In light of the novel coronavirus outbreak and guidance from local authorities for the short-term rental industry during this public health emergency, bookings of all listings in Beijing with check-in from 7 February 2020 to 29 February 2020 have been suspended”.
Besides it further added that the company “appreciates that disease control efforts are causing overall travel disruptions that also affect our community of guests and hosts”.
Coronavirus Puts the World on a Backfoot
The outbreak of the Coronavirus in the world’s second-largest economy has made global investors cautious and wary. Initially, the global markets reacted negatively with the global investment sentiment taking a hit.
China being the home to the world’s largest manufacturing facilities, even global companies are facing the brunt. Last week, Coinspeaker reported that tech giant Apple is facing a severe delay for its AirPod units which are currently in great demand. Citing global demand Apple has ordered its Chinese partners to deliver 48 million AirPods units in the first half of 2020.
However, the Coronavirus epidemic has forced many manufacturers to shut down their operations for the time being. Apple is currently evaluating its other options in place as analysts are having a close watch the APPL stock price.
On the other hand, the health authorities in China and worldwide are seeking new measures to control the virus spread. The number of cases detected continues to be on a rise in other regions of China. Beijing being a tourist attracting destination, the Chinese government remains extra vigilant here.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.