Sweetome’s stakeholders now include Trip.com Group, Airbnb, 58.com Inc and Expedia.
Airbnb recorded a big profit in the third quarter, but the rest of the year might not make up for the early performance.
Stay Alfred operates more than 2,500 upscale vacation units in 33 cities.
Landlords were willing to participate in a business with a bad risk-reward ratio because someone else was taking on the costly risks.
OYO’s China unit could post a $394.9 million profit in 2022, which could then grow to $1.65 billion by 2024, the projections showed, implying a four-fold jump in net profit in two years.
Among the earnings, room sales totaled 42.7 billion yuan while food and beverage incomes constituted 38.2 billion yuan.
Lodging revenue rose 34.5% to RMB693.7 million in the third quarter, while transportation revenue climbed 1.6% to RMB1,139.6 million.
Airbnb’s business excluding the United States and China turned a net profit of $46.47 million in 2018 compared with a loss of $97.22 million the previous year.
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