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Airbnb fined 300,000 euros for failing to inform consumers


According to the Repression of Fraud, Airbnb has been fined 300,000 euros for not adequately informing the consumer on his right of withdrawal when using its services.

Among the complaints against Airbnb was its failure to sufficiently inform the consumer, particularly in regard to his right of withdrawal, for which it was fined 300,000 euros by the Repression of Fraud.

In the context of tourist rentals between individuals on Airbnb, the Repression of Fraud has fined the platform 300,000 euros for not adequately informing the consumer, particularly on the right of withdrawal.

A statement from the agency said the fine was issued to Airbnb Ireland Unlimited Company for “failing to comply with the regulations set out in the Consumer Code applicable to operators of digital platforms.”

According to the fine, it stems from “controls of the platform Airbnb website”, conducted by the directorate general for competition, consumer affairs and fraud control (DGCCRF).

In revealing the absence of information about the quality of the advertiser (professional or non-professional), the provisions of the consumer code on the right of withdrawal, and the provisions of the civil code pertaining to the rights of obligation and civil liability, the Repression of Frauds stated.

Airbnb announces having taken measures
The company, in a statement to AFP, said it takes the “consumer law and the need for transparency” seriously, and has taken “measures, welcome by the European Commission, to identify hosts as individuals or professionals.”

In addition to these complaints, the platform failed to provide the DGCCRF with the information regarding the consumer’s right to retract as well as his civil rental responsibility (called “rental risk”) in the event of accidental damage caused to a home by the tenant’s negligence.

About the stock

Nonetheless, Airbnb stock turned an early mild loss into 4.8% gains in an accelerating turnover on June 30. As a result, the stock’s loss for the second quarter was cut to nearly 19%.

Nearly a month ago, shares cut early losses in a bullish manner, trimming an early drop of more than 6% to just 0.9% by the end of the week. However, the following week’s 10% drop underscored continued selling pressure. A new rebound is underway for shares of this company as they try to hold above their low for the year, 129.71. An upward trend of at least 3% in successive weeks suggests the tourism industry, not only within the U.S., is reviving.

For MetaNews.


Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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