Hospitality Archives | Page 9 of 15 | CREtech

Airbnb has bumped up its initial public offering price range, targeting a $42 billion valuation. The company has set an increased price range of between $56 and $60 per share, up from $44 to $50.

When the coronavirus first hit, hotels quickly adopted enhanced cleaning polices, including germ-killing electrostatic spraying and ultraviolet light exposure in guest rooms and public areas. But as research on virus spread has shifted focus from surface contact to airborne transmission, some hotels and cruise ships are scrubbing the very air travelers breathe with a variety of air filtration and ...

Midtown — the epicenter of Manhattan office, retail and hospitality — has seen a stark transformation over the past eight months. The hundreds of thousands of office workers and tourists who used to fill the streets and businesses every day now only trickle down the hallowed corridors of Fifth Avenue, Park Avenue, Madison Avenue and Broadway.

Airbnb Inc. and existing investors are seeking to raise as much as $2.6 billion in a long-awaited initial public offering expected to cap one of the busiest years ever for U.S. listings. The home-rental platform and some shareholders are offering 51.9 million shares at $44 to $50 apiece, San Francisco-based Airbnb said in a filing Tuesday with the U.S. Securities and Exchange Commission.

As Manhattan’s office landlords struggle to get people to return to the workplace, the city’s biggest provider of on-demand, in-person meeting spaces and conference centers has scaled back its footprint.

Of the $50 million in funding that Kasa Living Inc. has raised, $30 million in new Series B funding was led by Ribbit Capital and $20 million in Series A funding was led by FirstMark Capital less than a year ago.

In less than a year, New York City streeteries have quickly developed from colorful wood fences around chairs and tables to covered, cabinlike structures — and bubbles — with lighting, planters, and heating.

The hotel industry has been hit hard by the coronavirus pandemic, and may not recover for years (even if there is a vaccine). At the same time, many believe that remote working is here to stay.

Airbnb rentals in desirable winter locations have already started to book up for the holidays, but for travelers seeking a home away from home, Airbnb is no longer the only game in town.

Francis Meynard and his wife recently checked into a Hyatt Regency in Huntington Beach, Calif. The oceanfront property features a beach bonfire and poolside cabanas. But the real-estate executive checked in to work.