Sounding Off: You don't have to always bet on business

Each Friday, PhocusWire dissects and debates an industry trend or new development covered by PhocusWire that week.

There may be some who found themselves producing a bit of a wry smile when reading Brian Chesky's comments about principles.

This is the same company that in "times of uncertainty" last year went ahead with the biggest business in its history and listed on the public markets.

But, let's face it, Chesky and co absolutely made the right decision for Airbnb and its long-term investors.

Yet, it's also the same company that continually, for around the first three-quarters of its existence, faced criticism from the hotel sector and city authorities around the world for a string of issues.

Paying local tourism taxes or business rates on properties, cracking down on parties or introducing confusing or unfair fees for hosts and guests, etc. - there would be many a detractor oh Airbnb who would argue that it sat rather cosily through a very unprincipled period when it was launching in multiple cities and realizing just how difficult being a serious player in the travel industry can actually be.

Still, back to Chesky's current comments about principles - he's right when he remarks that companies and their leaders should sometimes opt for the principled decision than a business-led one.

If 2020 illustrated anything to the industry and society at large, it would probably be (or should be) about understanding that some crises are clearly different than others (Icelandic volcanoes vs. global pandemics vs. global financial collapses) and there is a time to behave in certain ways.

On many occasions last year there were wonderful examples of brands doing the right thing for their locations and residents, customers, staff and partners, rather than simply hunkering down and hoping things blow over quickly (they didn't, for most).

The world of business doesn't normally operate that way. There are too many dollars flickering in the eyes of its leaders.

But that spirit of principled behavior that was demonstrated at times so well and effectively in 2020 should be something for the travel sector to build on.

Customers might remember (hoorah - good for a recovering business!) but, most of all, it's the right thing to do.