Airbnb has signed a memorandum of understanding (MoU) with Maharashtra Tourism Development Corporation (MTDC), which will see MTDC homestays being listed on the platform, reports The Economic Times. This is a revenue-sharing agreement, which will see Airbnb sharing a portion of its booking revenue in the state with MTDC. It’s not clear what percentage of the booking revenue will be shared.
Airbnb had signed a MoU with Self-Employed Women’s Association of India (SEWA) to expand its network of homes in rural India, in November last year. Initially, Airbnb and SEWA worked with SEWA members in Gujarat to offer their homes to Airbnb’s international and domestic guests. Given that SEWA has a presence in 14 states across India, Airbnb can be expected to eventually expand this agreement.
Airbnb Trips: In March this year, the company launched its Trips platform in Delhi, with 15 local experiences in Delhi. Trips focus on three specific aspects of travel, including Experiences (activities), Places (recommendations of things to do, like Tripadvisor does), and Homes (stays).
Funding: Earlier this year, the company closed its Series F round of funding with $447.8 million, after having raised $555.5 million in the same round last year, to bring it to a total of over $1 billion. At the time, it was also mentioned that the company had turned profitable, and will be profitable on an EBITDA basis this year. It’s worth noting that Airbnb had entered into a strategic partnership with and raised an undisclosed amount of investment from the Times of India Group, in April last year.
Note that the Indian government is currently in the initial stages of formulating guidelines for accommodation aggregators.