Airbnb Inches Higher On Hope of Travel Boost From Vaccine Rollouts

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Airbnb Inches Higher On Hope of Travel Boost From Vaccine Rollouts

By Dhirendra Tripathi

Investing.com – Airbnb (NASDAQ: ABNB ) shares rose 0.5% early Monday on expectations that people will return to travel after getting vaccinated but will choose to stay in its properties over those of big hotel chains and others.

People assume Airbnb properties to be a safer option in Covid times. Stocks of travel companies are getting a closer look from investors as vaccinations spread and people look to life returning to somewhat normal. Marriott (NASDAQ: MAR ), Royal Caribbean (NYSE: RCL ) and Hilton (NYSE: HLT ) were all down in early trading.  

Vaccination is quickening in several countries now. It was initially sluggish as countries struggled to decide on priority groups. Vaccination is happening at a healthy pace in the U.S. and the U.K. but wobbling in Europe because of fears over the safety of the AstraZeneca (NASDAQ: AZN ) vaccine, the shot the E.U. countries relied most on. Asian countries are also doing better after early hiccups.

In the U.S., eligible individuals began receiving their $1400 checks under the Biden administration’s $1.9 trillion stimulus plan last week. A part of that money is expected to go to discretionary spending like travel, eating out and movie watching.

 

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