MemGPT/example-sec-filings · Datasets at Hugging Face

text stringlengths 0 1.41k
particular period, or the price charged by Hosts declines, our revenue
would decline and our business, results of operations, and financial
condition would be materially adversely affected.

Hosts manage and control their spaces and experiences and typically
market them on our platform with no obligation to make them available to
guests for specified dates and with no obligation to accept bookings
from prospective guests. We have had many Hosts list their properties on
our platform in one period and cease to offer these properties in
subsequent periods for a variety of reasons. While we plan to continue
to invest in our Host community and in tools to assist Hosts, these
investments may not be successful in growing our Hosts and listings on
our platform. In addition, Hosts may not establish or maintain listings
if we cannot attract prospective guests to our platform and generate
bookings from a large number of guests. If we are unable to retain
existing Hosts or add new Hosts, or if Hosts elect to market their
listings exclusively with a competitor or cross-list with a competitor,
we may be unable to offer a sufficient supply and variety of properties
or experiences to attract guests to use our platform. In particular, it
is critical that we continue to attract and retain individual Hosts who
list their spaces, including private rooms, primary homes, or vacation
homes, on Airbnb. We attract individual Hosts predominantly through
organic channels such as word of mouth and our strong brand recognition.
If we are unable to attract and retain individual Hosts in a
cost-effective manner, or at all, our business, results of operations,
and financial condition would be materially adversely affected.

Professional Hosts, including property management companies, serviced
apartment providers, and boutique hotels, expand the types of listings
available to our guests. These professional Hosts often list on our
platform as well as on the platforms of our competitors. We do not

8

control whether professional Hosts provide us with a sizable allocation
of rooms and competitive pricing relative to the same properties listed
with other services. If we are not able to effectively deploy
professional tools, application programming interfaces, and payment
processes, work with third-party channel managers, and develop effective
sales and account management teams that address the needs of these
professional Hosts, we may not be able to attract and retain
professional Hosts. If our fee structure and payment terms are not as
competitive as those of our competitors, these professional Hosts may
choose to provide less inventory and availability with us. Historically,
we have seen an increase in the number of, and revenue from,
professional Hosts on our platform. The uniqueness of listings on our
platform will be negatively impacted if the number of individual Hosts
does not grow at the same rate.

In addition, the number of listings on Airbnb may decline as a result of
a number of other factors affecting Hosts, including: the COVID-19
pandemic; enforcement or threatened enforcement of laws and regulations,
including short-term occupancy and tax laws; private groups, such as
homeowners, landlords, and condominium and neighborhood associations,
adopting and enforcing contracts that prohibit or restrict home sharing;
leases, mortgages, and other agreements, or regulations that purport to
ban or otherwise restrict home sharing; Hosts opting for long-term
rentals on other third-party platforms as an alternative to listing on
our platform; economic, social, and political factors; perceptions of
trust and safety on and off our platform; negative experiences with
guests, including guests who damage Host property, throw unauthorized
parties, or engage in violent and unlawful acts; and our decision to
remove Hosts from our platform for not adhering to our Host standards or
other factors we deem detrimental to our community.

We believe that our Host protection programs, including those provided
through AirCover for Hosts, are integral to retaining and acquiring
Hosts. AirCover for Hosts includes but is not limited to our Host Damage
Protection program, which protects Hosts against guest property damage
of up to \$3 million, and our Host Liability Insurance and Experiences
Liability Insurance, which provide liability insurance of up to \$1
million, to protect our Hosts against qualifying third-party claims for
personal injury or property damage. If we discontinue these programs or
these programs prove less effective, whether because our payouts under
these programs or our insurance premiums become cost prohibitive or for
any other reason, then the number of Hosts who list with us may decline.

In addition, we have incurred, and may continue to incur, higher than
normal payments via refunds and travel credit issuance to guests who
cancel for reasons related to COVID-19. Hosts and guests whose
reservations are canceled under our extenuating circumstances policy,
including for reasons related to COVID-19, have had and may continue to
have a negative view of such policy and may experience negative
financial impacts as a result of such cancellations. This could
materially negatively impact our relationship with our Hosts and guests,
resulting in Hosts leaving our platform, removing their listings, and/or
offering less availability, or fewer repeat guests, which in turn could
have a material adverse impact on our business, results of operations,
and financial condition.

*If we fail to retain existing guests or add new guests, our business,
results of operations, and financial condition would be materially
adversely affected.*

Our success depends significantly on existing guests continuing to book
and attracting new guests to book on our platform. Our ability to
attract and retain guests could be materially adversely affected by a
number of factors discussed elsewhere in these "isk Factors,"including:

•events beyond our control such as the ongoing COVID-19 pandemic, other

particular period, or the price charged by Hosts declines, our revenue

would decline and our business, results of operations, and financial

condition would be materially adversely affected.

Hosts manage and control their spaces and experiences and typically

market them on our platform with no obligation to make them available to

guests for specified dates and with no obligation to accept bookings

from prospective guests. We have had many Hosts list their properties on

our platform in one period and cease to offer these properties in

subsequent periods for a variety of reasons. While we plan to continue

to invest in our Host community and in tools to assist Hosts, these

investments may not be successful in growing our Hosts and listings on

our platform. In addition, Hosts may not establish or maintain listings

if we cannot attract prospective guests to our platform and generate

bookings from a large number of guests. If we are unable to retain

existing Hosts or add new Hosts, or if Hosts elect to market their

listings exclusively with a competitor or cross-list with a competitor,

we may be unable to offer a sufficient supply and variety of properties

or experiences to attract guests to use our platform. In particular, it

is critical that we continue to attract and retain individual Hosts who

list their spaces, including private rooms, primary homes, or vacation

homes, on Airbnb. We attract individual Hosts predominantly through

organic channels such as word of mouth and our strong brand recognition.

If we are unable to attract and retain individual Hosts in a

cost-effective manner, or at all, our business, results of operations,

and financial condition would be materially adversely affected.

Professional Hosts, including property management companies, serviced

apartment providers, and boutique hotels, expand the types of listings

available to our guests. These professional Hosts often list on our

platform as well as on the platforms of our competitors. We do not

8

control whether professional Hosts provide us with a sizable allocation

of rooms and competitive pricing relative to the same properties listed

with other services. If we are not able to effectively deploy

professional tools, application programming interfaces, and payment

processes, work with third-party channel managers, and develop effective

sales and account management teams that address the needs of these

professional Hosts, we may not be able to attract and retain

professional Hosts. If our fee structure and payment terms are not as

competitive as those of our competitors, these professional Hosts may

choose to provide less inventory and availability with us. Historically,

we have seen an increase in the number of, and revenue from,

professional Hosts on our platform. The uniqueness of listings on our

platform will be negatively impacted if the number of individual Hosts

does not grow at the same rate.

In addition, the number of listings on Airbnb may decline as a result of

a number of other factors affecting Hosts, including: the COVID-19

pandemic; enforcement or threatened enforcement of laws and regulations,

including short-term occupancy and tax laws; private groups, such as

homeowners, landlords, and condominium and neighborhood associations,

adopting and enforcing contracts that prohibit or restrict home sharing;

leases, mortgages, and other agreements, or regulations that purport to

ban or otherwise restrict home sharing; Hosts opting for long-term

rentals on other third-party platforms as an alternative to listing on

our platform; economic, social, and political factors; perceptions of

trust and safety on and off our platform; negative experiences with

guests, including guests who damage Host property, throw unauthorized

parties, or engage in violent and unlawful acts; and our decision to

remove Hosts from our platform for not adhering to our Host standards or

other factors we deem detrimental to our community.

We believe that our Host protection programs, including those provided

through AirCover for Hosts, are integral to retaining and acquiring

Hosts. AirCover for Hosts includes but is not limited to our Host Damage

Protection program, which protects Hosts against guest property damage

of up to \$3 million, and our Host Liability Insurance and Experiences

Liability Insurance, which provide liability insurance of up to \$1

million, to protect our Hosts against qualifying third-party claims for

personal injury or property damage. If we discontinue these programs or

these programs prove less effective, whether because our payouts under

these programs or our insurance premiums become cost prohibitive or for

any other reason, then the number of Hosts who list with us may decline.

In addition, we have incurred, and may continue to incur, higher than

normal payments via refunds and travel credit issuance to guests who

cancel for reasons related to COVID-19. Hosts and guests whose

reservations are canceled under our extenuating circumstances policy,

including for reasons related to COVID-19, have had and may continue to

have a negative view of such policy and may experience negative

financial impacts as a result of such cancellations. This could

materially negatively impact our relationship with our Hosts and guests,

resulting in Hosts leaving our platform, removing their listings, and/or

offering less availability, or fewer repeat guests, which in turn could

have a material adverse impact on our business, results of operations,

and financial condition.

*If we fail to retain existing guests or add new guests, our business,

results of operations, and financial condition would be materially

adversely affected.*

Our success depends significantly on existing guests continuing to book

and attracting new guests to book on our platform. Our ability to

attract and retain guests could be materially adversely affected by a

number of factors discussed elsewhere in these "isk Factors,"including:

•events beyond our control such as the ongoing COVID-19 pandemic, other