Airbnb, the home rental platform, has seen its shares fall sharply after revealing that its pandemic era ban on parties is to be made permanent.

The company said its curbs on so-called party houses, which were first introduced in 2020 as the coronavirus crisis gathered pace, would remain in place following a sharp fall in reports of unauthorized gatherings.

It reported a 44% decline on an annual basis amid its efforts to stop persistent offenders or properties creating a nuisance.

In the UK, the number of complaints dipped by 63%.

Nevertheless, more than 6,600 guests and some hosts were suspended globally in 2021 for attempting to violate the party ban, Airbnb said.

It did relax one rule; the 16-person limit at a single premises which, the company said, would allow larger properties on the platform to reach full occupancy.

Airbnb admitted its crackdown on bad behaviour would remain a work in progress.

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“This is an issue where I don’t know if I’d say there’s a finish line,” Ben Breit, a spokesperson for the company, added.

Shares ended the day almost 4% lower, falling more sharply than the wider Nasdaq index, with its update potentially seen as a threat to revenue ahead.

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