How to survive in 2021

Linda Fox from Phocuswire, who I am a huge fan of, published last week a fantastic article about the participation of Brian Chesky in the Reuters Next event where he discussed the topic of Tendencies in Tourism.

In my opinion, Chesky touches upon three important points:

1. Tourism will never be the same as before the pandemic which doesn’t mean that the same volume of business won’t be regained on a macro level, just the revenue will come in a different form;

2. There will be a significant decrease in business travelling, however – in spite of being possible now to work remotely and of many of us having moved away from the cities – we need to come back, even if only so often, to the city where our office is;

3. More people will choose to travel by car and to smaller towns rather than to popular destinations, switching from mass tourism to a kind of tourism that is more meaningful for our lives.

In 2019 92% of Doinn business came from Lisbon, Porto, Madrid, Barcelona and London. In 2020 these cities have represented only around 45% of our revenue and the estimate for this year is even lower (not taking into account the new markets we have been gaining our position in such as the U.S.A or Mexico).

Many of big European management agencies are located in these cities and, even if they managed to reduce they fixed costs by cutting their rents or laying off a big part their employees, the focus on medium and long-term rentals of their properties doesn’t seem to be enough for them to stay alive in 2021 if Chesky is reading the market correctly.

Furthermore, if we take into account that many owners of beach and mountain houses live in these big cities, we will understand that the strategy that they followed last year – to manage their houses remotely, with certificate cleaning and laundry, linen and toiletries that we make available at Doinn – will still be a trend in 2021.

I share the link to the complete article:

https://www.phocuswire.com/Airbnb-travel-trends-and-crises
 

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