Airbnb’s CEO says company almost collapsed due to COVID-19

The CEO of  Airbnb has admitted that the company almost collapsed within four to six weeks of  the COVID-19 pandemic hitting.

Brian Chesky, who is also a co-founder of  Airbnb, told an interview with CNBC that quick action to cut costs, including nearly one billion dollars of  marketing spend, saved the holiday rentals company.

The Airbnb boss said the company, which now has more hosts than before the COVID-19 crisis without any marketing, is preparing for a whole different travel market. 

He said travel would come back, but it was going to take longer than expected.

Several Jamaican property owners have listings on the Airbnb platform.

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