Silver Lake, Sixth Street Partners Invest $1 Billion in Airbnb

Strategic investment will help strengthen Airbnb’s global community of hosts and guests who deliver unique, local, and authentic experiences in over 220 countries and regions.

News Report

 

The desire to explore, connect, have new experiences, and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging—for everyone, everywhere—will never change. Brian Chesky, Airbnb Co-Founder, CEO and Head of Community

Airbnb announced today that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. The new resources will support Airbnb’s ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community.

The desire to explore, connect, have new experiences, and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging—for everyone, everywhere—will never change. Brian Chesky, Airbnb Co-Founder, CEO and Head of Community

Started in the midst of the Great Recession in 2008, Airbnb has rapidly grown into a trusted two-sided marketplace that generates real money for millions of regular people who share their homes and host Experiences. People who share their homes keep up to 97 percent of what they charge for their listings, while guests have easy access to a wide range of places to stay—from budget to luxury—in nearly every country and region in the world.

Marriott CEO sends a letter to its customers

Our Continued Efforts: We Will Travel Again

Arne M. Sorenson the President and Chief Executive Officer of Marriott has sent a letter to its customers.....


It’s been three weeks since I last communicated with you about the dramatic impact of COVID-19 on our business. Sadly, since that time, we’ve all borne witness to how this insidious virus is impacting our families, our communities and our very way of life. What we’re facing is daunting, but I am heartened by the moments of triumph in everyday acts of courage, humanity and love. Although these are trying times for us all, I remain optimistic that our world will thrive once again.

Today, I want to let you know how we’re focused on supporting the communities where our associates live and work. I also want to provide you with an update on our room cancellation policy and Marriott Bonvoy status and points expiration dates.

#FirstRespondersFirst Partners with Marriott International to Provide Free Accommodations to Healthcare Workers on the Frontlines of the COVID-19 Pandemic

As the COVID-19 pandemic continues to have devastating impact, #FirstRespondersFirst announced today a partnership with Marriott International to support frontline healthcare workers with essential protective equipment, accommodations, child care, food, mental health support and other essential resources.

As people are being asked to serve the public health by stepping back, frontline healthcare workers are being tasked with stepping forward, putting their own health -- and that of their families -- at risk. Beginning this week, Marriott and #FirstRespondersFirst will provide healthcare workers in New York City with accommodations starting with The Renaissance New York Times Square and The Algonquin Hotel Times Square, Autograph Collection which are both in close proximity to hospitals. Accommodations will be provided at no cost to the healthcare workers.

Ritesh Agarwal, Founder & Group CEO, OYO to Forego 100% of His Annual Salary, and the Executive Leadership Team to Take Voluntary Salary Cuts

COVID-19 has impacted the global hospitality industry significantly with occupancies of various hotel chains being affected drastically. In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year. The company’s entire executive leadership team has taken a voluntary pay cut starting at 25%, with many opting for an additional uncapped amount, and some going up to 50% to enable building the runway for the company. This would be effective April 2020 and the entire company is standing together to tide over these times.

It has been a matter of pride for OYO Hotels & Homes that it has retained each and every single leader in the CXO group in the history of the company, and in a difficult time like this, the executive leadership has come together as one strong entity as true partners of the company.

Hilton and American Express to Donate Up to 1 Million Rooms To Frontline Medical Professionals During COVID-19 Crisis

Hilton and American Express have announced in partnership with Hilton’s ownership community, they will donate up to 1 million hotel room nights across the United States to frontline medical professionals leading the fight against COVID-19.

Beginning next week, Hilton and American Express will make rooms available without charge to doctors, nurses, EMTs, paramedics and other frontline medical staff who need a place to sleep, recharge or isolate from their families through the end of May.

Hilton is initially working with 10 associations who collectively represent more than 1 million healthcare workers to provide access to the program, designed to support individuals who would otherwise have to spend their own money on accommodations.