Airbnb has announced that it has secured commitments of USD 1bn for a syndicated term loan from institutional investors. 

“I deeply appreciate the confidence and trust that so many have shown in our company even as every sector in travel is going through the storm of the pandemic. We know travel will return and rather than merely hunkering down, the support we have received will allow Airbnb to continue moving forward as we invest in our community,” said Airbnb Co-Founder and CEO Brian Chesky.

Like many others in the tourism and hospitality industry, Airbnb has seen business disappear due to COVID-19. The company is refunding customers who had to cancel trips and has set aside $250 million to reimburse the hosts globally.

Airbnb, founded in 2008, is present in 191 countries launched its platform in May 2016 in India, where it has 54,000 listings across 110 cities offering a range of accommodation options — from apartments and villas to castles, tree-houses and bed-and-breakfasts. Airbnb has seen massive growth in India since its launch since over one million Indians have taken the facility provided by Airbnb globally. Airbnb listings in India have grown by 115 per cent in the past year, with over 30,000 listings all across India.

The women hosts of Airbnb in India earned are getting great success in renting their places through Airbnb and they have earned over INR 1 billion in 2019. Ahead of International women’s day, Airbnb had released this data stating that over 34 per cent and 40 per cent of Airbnb’s stay hosts and experience hosts in India were women. Airbnb data revealed that women entrepreneurs are leaders in new markets and fulfilling untapped customer needs through innovative businesses. Its data also recorded that New Delhi, Mumbai, Bangalore, Kolkata and Jaipur are the top five 5 cities in India with the highest number of women hosts.