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Airbnb more popular than ever after corona restrictions are lifted | Economy

Overnight stays via rental platform Airbnb have never been more popular than this summer. In its quarterly results, the internet company said it expects record sales in July, August and September after corona restrictions have been largely lifted in many countries.

Also in the past quarter, many more people booked an overnight stay for a holiday or business trip via Airbnb. In total, people booked 103.7 million overnight stays or outings via the platform. That was 25 percent more than a year earlier. Also compared to the same period of 2019, the last year before the corona pandemic, the number of bookings rose sharply.

As the rates of Airbnb hosts also went up, annual revenue increased by more than half to $2.1 billion. Airbnb posted a profit of $379 million, compared to a loss of $68 million in the second quarter of 2021.

Historically high

According to Airbnb, that gain is partly due to ‘difficult’ decisions about spending at the start of the pandemic. Then the tech company decided to lay off a quarter of its staff. Subsequently, the company remained ‘disciplined’ with costs, which would explain its profitability.

In the current third quarter, Airbnb expects between $2.8 billion and $2.9 billion, which would be an all-time high for the company, founded in 2008. On July 4, when Americans celebrate Independence Day, the company recorded its highest single-day revenue ever.

Airbnb more popular than ever after corona restrictions are lifted | Economy
Source link Airbnb more popular than ever after corona restrictions are lifted | Economy

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