Description of the CDT initiative:
The project is a new vacation rental online portal that offers 50% of its revenue to community projects what will be chosen by the residents themselves. Compared to other platforms it only lets each host to rent out not more then one apartment. The portal is in the launching phase, already with more than 500 subscribers and will operate from September 2019.
Geographic location:
Established in Italy, in September 2019 launched to operate worldwide
What problem they are trying to solve? What have they accomplished?
Online platforms that are offering accommodation booking services (such as booking.com, Airbnb and others) are generating huge dollar millions to the profit of investors and owners, with very few social benefits. The tendency to rent out rooms in touristic areas are also affected negatively the residents in many cities (including popular Italian and Sicilian touristic areas), since low-income residents are not able to afford any more the increasing property and rental costs in those areas, and often full neighbourhoods are forced to move to less popular parts of the city. This process is known as gentrification.
The new Fairbnb platform gives an alternative solution by offering that 50% of its revenue will be turned back to community projects, chosen by the residents themselves, including social housing or urban gardening projects.
More info: https://fairbnb.coop/