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The biggest challenge for the online travel sector in 2021 is the shape of the travel recovery, and the myriad issues that flow from whatever scenario takes hold.
Whether a travel recovery gets under way in second half of 2021 after a significant number of people got vaccinated, assuming the shots are as effective as advertised, or there are further setbacks and delays in a potential rebound will affect the liquidity of all the major online travel companies.
Having chopped expenses and products, laid off staff, and taken various steps to attract new funding or debt financing, the question looms whether online travel companies have enough cash to get them to the other side of the pandemic, or whether they would have to make deeper cuts or seek additional funding again.
New booking platform founder says she s not taking on OTAs hoteliermiddleeast.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hoteliermiddleeast.com Daily Mail and Mail on Sunday newspapers.
More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more
Airbnb, the longtime travel unicorn almost left for dead when its homesharing business nosedived in March, executed an initial public offering on Thursday of near-mythical proportions.
Priced at $68 per share Wednesday evening, the first trade was $146 per share. The company, which had an $18 billion private valuation during the depths of the recession, was trading at more than $158 per share in the first few minutes of trading, translating to a $109 billion valuation. That makes it larger than Booking Holdings’ at $86 billion market cap and dwarfing rival Expedia’s at $18.5 billion.
Airbnb valued at $101 6 billion in biggest U S IPO of 2020 reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.