“ABNB’s required early supply has been a key discussion since the IPO and our new deep dive into supply and occupancy speaks to headwinds to upcoming growth,” the analysts wrote in a client note.
As a result, they lowered the estimates “significantly” to reflect these risks, which the Street doesn’t understand as well. Morgan Stanley now trails Street 10-20% on EBITDA. They also see the “above average risk” of a bear case developing for Airbnb, which would push the price to $60 a share.
“Our model to slow down supply speaks to how it is increasingly important for ABNB to drive demand growth through higher occupancy and/or more nights available per quote”the analysts added. Airbnb shares are down 44% year to date.
Airbnb in Argentina
The temporary rental platform, Airbnbannounced that it stopped accepting payments in local currency and all reservations must be paid in dollars.
For this reason, Argentine travelers who want to rent through this platform must pay in dollars, even if they are carrying out the operation from Argentina. The new way of operating has already been in force for the last few weeks.
Likewise, the company informed that there will be additional app changes. These modifications will undoubtedly have a great impact on travellers’ pockets, on the way they book and also on the safety of the owners of rental properties.
On the one hand, those who want to make a reservation from Argentina they will have to do the payment in dollars. But what is striking is that this measure includes travelers who book destinations within the same country.
In this way, whoever decides to vacation on the Argentine coast, in Mendoza, Bariloche or any other national destination, must pay with a credit card in US currency to make the reservation or purchase through the international platform.
But regarding what exchange rate will be applied to calculate the final price of the reservation, the uncertainty is more worrisome, because without giving further details, they only recommend contacting the bank that issued the card.
It is then estimated that whoever pays for their reservation on Airbnb with a credit card, with a destination inside or outside the country, will see an amount in dollars reflected in their statement.
When paying, you must take the official exchange rate and add 30% for the PAIS tax and a perception of Profits of 45%. It must be considered that when the sum exceeds 300 dollars, the “Qatar dollar” will be applied in the summary and therefore, another 25% perception for Personal Property must be added.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
