Business View Caribbean, November/December 2018

10 11 OPENING LINES cooperate on areas of mutual interest including: the promotion of Caribbean countries as desirable tourism destinations; the undertaking of joint research to understand the impact of the home sharing on economic recovery following the 2017 hurricane season, and other areas of mutual interest to both organizations. “We are proud of the fact that the Caribbean is in such high demand among diverse and verydiscerning global travelers.EssentiallyAirbnb is helping tomake our regionmore competitive and to spread the benefits of the tourism industryacross traditional and non-tradi- tional segments of our communities,”Riley said. “Airbnb is deeplycommitted to the Caribbean andwe are proud to take this next stepwith the CTO to ad- vance our mission of local,authentic, and sustainable travel in the region.The platform helps diversify the tourism sector, attract new travelers, and empow- er over 50,000 hosts across the region”, said Chris Lehane,Head of Global Policy and Public Affairs for Airbnb. Hosts set their desired listing price on the plat- form and pay a 3 percent commission to Airbnb for its platform services, allowing them to pocket 97 percent of the nightly rate. In the Caribbean, a typical host earned US$3,700 in the last 12 months. Through various marketing partnerships in the region, the platform has collaborated with regional tourism boards and enabled destinations to reach Airbnb’s vast global community through the compa- ny’s robust media platforms.This broader partnership with the CTO includes exploring collaborative ways to market the region and partnerships to facilitate destination marketing, host recruitment, improving the guest experience, and the expansion of disaster relief efforts. The joint research undertaking with the CTO builds on Airbnb’s commitment to help strengthen communities around the world in tough times.The hyperactive 2017hurricane season sawHarvey, Irma, and Maria severely impact the region, resulting in billions of dollars of damage.Airbnb saw a downturn in September 2017, but is excited to note an uptick in bookings for the upcoming high season and is work- ing steadfastly to spread the word that the Caribbean is open for business. In Puerto Rico, alone, the plat- form now has more listings than pre-Hurricane Maria level. The research will consider the ways in which homebsharing helps affected communities restore economic activity in the tourism industry. Addition- ally, Airbnb is committed to expanding the Open Homes program in the Caribbean. This program provides free temporary housing to people dis- placed by natural disasters and relief workers. Earlier this year, Airbnb and the Puerto Rico Tourism Company (PRTC) also agreed to launch a destination marketing campaign to highlight the island, in addition to cementing a lodging tax collec- tion agreement. Puerto Rico collaborated with Airbnb on a series of targeted efforts, including the launch of Airbnb’s popular Experiences feature on the island to help drive tourism in the country as it rebuilds following Hurricane Maria. Airbnb will continue working with governments to promote the benefits of visiting the Caribbean to help stimulate inclusive, sustainable tourism throughout the region.