April 6 Reuters Shares of Airbnb Inc fell as much as 6 on Thursday after an online independent publication released a report that probed unpleasant experiences that customers had during stays booked through the shortterm rental platform.
According to The Bear Cave report, horror incidents of guests staying at individually managed Airbnbs abound on the internet, including surprise cleaning requirements and lastminute cancellations as well as numerous examples of guests finding hidden cameras in bedrooms and bathrooms.
Airbnb did not respond to requests for comment.
The company39;s shares were last down 5 in afternoon trading.
Airbnb39;s revenue in 2022 was up 40 year over year and it was the companys most profitable year on record. The SanFransicobased company reported a 16 increase in active listings in the fourth quarter of 2022 over the same period in 2021. Nights and experiences booked rose 20 from a year earlier but missed analysts39; estimates.
Earlier this year, travel companies said they had not yet seen a decrease in demand despite concerns of a slowing economy.
Last month, a fire broke out in a building in Montreal being used by longterm residents and shortterm guests who booked lodgings through Airbnb. City officials said the units in the residential building were not supposed to be rented those purposes.
Some of the company39;s top professional hosts have cut out Airbnb and built their own booking platforms and are offering cheaper deals.
The increase…