Airbnb revenue surges as the country opens to vaccinated travelers

Airbnb Inc.’s quarterly sales exceeded Wall Street’s expectations, and short-term home renters said Thursday that a recovery in global travel in the last three months of the year would drive growth in 2022.

Searches for international travel are increasing as countries, including the United States, begin to relax pandemic-related restrictions on fully vaccinated visitors.

Airbnb recovered from a business plunge early last year as leisure-seeking domestic travelers booked homes away from major cities and the blockage was eased. We are now hoping that cross-border travel will further boost our bottom line.

“Although both long-haul and cross-border travel have seen a recovery this year, domestic and short-haul travel remains more popular than 2019 levels,” the company said in a statement. rice field.

According to vacation rentals, recovery was dominated in North America and Europe, areas with higher average daily rates. In the third quarter, it was about $ 149, up 15% from the previous year.

According to Airbnb, as of September 30th of Thanksgiving Week in the United States, there are 40% more reserved nights than at the same time in 2019.

With the pandemic permanently expanding the composition of the accommodation industry, analysts expect Airbnb to continue to grow in the alternative accommodation market, which holds more than 50% of the world’s online travel agencies. ..

Total bookings for the third quarter increased 48.8% to $ 11.9 billion. But it missed the $ 12.23 billion market forecast.

Revenues increased 66.7% to $ 2.24 billion, above the estimated $ 2.05 billion. Net income surged nearly four times year-on-year to $ 833.9 million.

Airbnb forecasts fourth-quarter revenues between $ 1.39 billion and $ 1.48 billion. Analysts estimate an average of $ 1.44 billion, according to Refinitiv data.