The coronavirus pandemic brought the travel industry to a halt, resulting in an estimated $330 billion of lost revenue since the beginning of March, according to an Aug. 13 report from the U. S. Travel Association.
Airbnb in May laid off nearly 1,900 employees, or about 25% of the company. The company also slashed marketing costs and raised billions of dollars in debt.
Airbnb on Wednesday announced that it has submitted a draft registration to the Securities and Exchange Commission for an initial public offering.
However, Airbnb rebounded after a surge of rentals in rural areas, as residents with means fled pandemic-stricken cities.
The filing comes after a rough year for Airbnb and the U. S. travel industry.