AIRBNB TO CANCEL D.C. BOOKINGS FOR INAUGURATION WEEK

Airbnb said it is cancelling hotel reservations in the Washington DC Metro area for the week of President-elect Joe Biden's inauguration after law enforcement warned of the threat from armed militia. The decision was made voluntarily after consulting local and federal officials, a company spokesperson said. “We are aware of reports emerging yesterday afternoon regarding armed militias and known hate groups that are attempting to travel and disrupt the Inauguration,” Airbnb said. The company will issue a full refund to guests and hosts will be paid in full for the cancelled bookings. Meanwhile, shares of the lodging-rental company rallied to a record high Wednesday, pushing its valuation above US$100 billion. The stock rose 5.7 per cent to US$169.99 in Wednesday trading in New York.