Industry Update
External Article15 May 2020

France to Build Online Platform to Rival Airbnb, Booking.com

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bloomberg.com external

The French government will join forces with the tourism industry to build an Internet site aimed winning back customers from U.S. online travel giants such as Airbnb Inc. and Booking Holdings Inc.

The initiative is part of government-led stimulus package to revive tourism in one of the world's top destinations as hotels, restaurants, theme parks as well as travel sites and tour operators are among the hardest hits by lockdowns and restrictions to fight the global coronavirus pandemic.

"This sector has been very much de-intermediated by the large U.S. platforms, Airbnb, Booking.com," Eric Lombard, the head of French State-controlled financial institution Caisse des Depots & Consignations, said on BFM Business television Thursday. "We need to regain that link with clients."

The platform will be made with the French government and the tourism industry, for the tourism industry, Lombard said. It will take "numerous" months to build to make it worthwhile, he said.

Read the full article at BloomBerg.com

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