Investing.com — Airbnb reportedly will shut down its domestic business in China by this summer, CNCB reported, citing unnamed sources.
Airbnb (NASDAQ:ABNB) was marginally higher following the report.
All listings in mainland China including homes and experiences will be taken down by this summer, the report said.
The move will help the company focus its efforts on Chinese outbound travel, which presents a more lucrative opportunity. Stays in China make up about 1% of revenue.