Is Airbnb a Top Stock for 2023?
Airbnb (NASDAQ: ABNB) has changed the way many people travel. Instead of staying at a hotel, other options like a bedroom in a house or an entire apartment are available. However, this model has some drawbacks, as many clients have found added-on charges like cleaning fees to be unreasonably high, even as guests are expected to perform many cleaning tasks themselves (such as stripping the bed or taking out the trash).
If you look at the stock, down 48% this year, you'd think issues like this are spelling the end for Airbnb. However, the actual business metrics are still trending in the correct direction.
While the cleaning fees may be one of the most annoying parts of the customer experience, CEO and co-founder Brian Chesky is cracking down on that practice. In a tweet, he promised that fixing the abuse of cleaning fees is one of his top priorities and noted the product wasn't intentionally designed, so it has some loopholes.
Source Fool.com
