Soaring hotel prices Buffett is crazy

Summary: Warren Buffett, chairman of the US, which has been known for its investment acumen, has put his eyes on the Airbnb of the rental website. But Buffett may not support the latter by investing

Warren Buffett, chairman of the United States, which has always been known for its investment acumen, has placed his sights on the Airbnb of the home leasing website. But Mr. Buffett may not support the latter by investing, but it is possible to collaborate in the form of a partner.

It is reported that Buffett's insurance and diversification of investment group Berkshire Hathaway company has been with Airbnb on the annual meeting held in May to meet the shareholders of the Airbnb contact, Hathaway hopes to collaborate with the company, which specializes in providing low-cost rental housing, to meet up to 30,000 shareholder meetings a year in May. Buffett said that the annual meeting during the Omaha Hotel occupancy costs have been greatly increased, many shareholders have begun to meet the cost of lodging during the meeting.

The Omaha World Herald reported that the prices of Omaha area hotels had risen to at least 350 dollars a night during the Hathaway shareholders ' meeting, a price that was up to three times more than usual. In addition, some hotels have also proposed that guests must stay at least three consecutive days of mandatory requirements.

So, in an interview with CNN in Wednesday, Mr. Buffett revealed that a number of shareholders complained about the issue and that some shareholders had even decided not to attend a shareholder meeting because of the cost of the hotel.

"It is generally believed that Berkshire Hathaway's shareholders are very rich, but the fact is that more than half of our shareholders have invested less than $12,000 trillion in capital." So if it takes thousands of dollars to attend a meeting, it's really not a small sum. "said Buffett.

Tracy Airbnb, who has been at Berkshire's post after graduating from Harvard Business School and has been a top aide to Mr. Buffett, has been in touch with Mr. Buffett's mandate. She encouraged Airbnb to further strengthen her influence in Nebraska State, while Airbnb also gave positive feedback on the subject, but the latter did not make public comments on the matter.

At the same time, Mr. Buffett also said the company's partnership with Airbnb may not be formally reached before the May 3 general Meeting of shareholders, and most of the company's shareholders have already booked their accommodation during the conference. However, Buffett says his communication with Airbnb is in the "exploratory phase".

There are reports that Airbnb is in talks with private-equity firms, including TPG Capital Management, to finance 400 million of billions of dollars. If all goes well, the Airbnb will be worth $10 billion trillion after this round of financing. However, Mr. Buffett says he has no plans to invest in Airbnb at the moment.

"It's not an investment idea, it's for the immediate benefit of the company's shareholders." "said Buffett.

So far, Berkshire Hathaway itself has not invested or held any large chain hotels or airline stocks. But in Tuesday, the Wall Street Journal reported that Mr. Buffett was also dissatisfied with the airline's move to raise the price of the Omaha area during the company's shareholder meeting.

In fact, in this year's letter to shareholders, Mr. Buffett has suggested that company shareholders take a plane to Kansas City and then rent a car to go to Omaha to attend a shareholder meeting.

"When it comes to corporate shareholders, I'm like a female bear who wants to protect her cubs." Buffett said at the end of the interview.