The tourism and hospitality industry in India and across the globe has faced the brunt of the COVID-19-related lockdowns and restrictions.
Airbnb co-founder and Chief Executive Officer Brian Chesky has expressed optimism about India's travel and hospitality sector though it has been severely affected by the COVID-19 pandemic.
"I'm extremely bullish on India. To invest in the Indian market is to be making a long-term investment," Chesky said, as quoted by The Economic Times.
"I think this is the early part of the very first chapter of the India community on Airbnb and I'm really excited to help the platform enable tens of thousands and, one day, millions of people become entrepreneurs as hosts on Airbnb in India and allow people in India to not only experience India but experience nearly every country in the world," he told the paper.
As per Chesky, India is a crucial hub for the San Francisco-based company.
The tourism and hospitality industry, in India and across the globe, has faced the brunt of the COVID-related lockdowns and restrictions.
Chesky said the pandemic has "irreversibly altered" the travel industry.
"We had to make a lot of very difficult decisions and had to essentially restructure the company," Chesky told The Economic Times.
"Then, all of a sudden, we started seeing some glimmers of hope," he added.Speaking about the company's initial public offering (IPO) plans, Chesky said it will go public when the market is ready for Airbnb. He added that the company has filed a registration statement with the US Securities and Exchange Commission (SEC).