Tech

Brazilian court sides with angry neighbors in Airbnb trial

A panel of judges ruled that housing complexes can forbid owners from renting their property on Airbnb — a ruling which could set a precedent for similar cases

Court sides with angry neighbors in Airbnb trial in Brazil
Photo: Laobotaro/Shutterstock

Late in February, short-term rental giant Airbnb published its 2020 financial results — the first such report since going public in December. Hampered by the pandemic, the company reported a decrease of 41 percent in bookings and 30 percent in revenue but still outperformed rivals Booking.com and Expedia, which saw profits shrink 63 and 67 percent, respectively. In Latin America, the company highlighted the “resilience of domestic travel in certain countries, such as Brazil and Mexico,” but refrained from making predictions about 2021.

And in Brazil, the company’s business model could be put in jeopardy — not because of...

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