Airbnb launched its first quarter outcomes for 2023 on Monday, and the corporate reported file income and reserving highs.
In Q1, Airbnb income grew by 20% to $1.8 billion, with a internet earnings of $117 million — making it the corporate’s “highest first quarter ever,” the discharge mentioned.
Moreover, the corporate’s Nights and Experiences function (the place customers can join actions hosted by locals) set a brand new file excessive with a rise of 19% from the 12 months earlier than and over 120 million bookings.
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Airbnb mentioned it had a 36% enhance in cross-border bookings, with a major enhance in Asia Pacific areas, which had a 40% year-over-year enhance in bookings.
Based on a survey by the U.S. Journey Affiliation, about one in 4 Individuals (23%) plan to journey for leisure in 2023, with half (about 52%) going someplace within the subsequent six months. Expedia, which owns Vrbo and Lodges.com, additionally noticed record-breaking Q1 income, up 18% from a 12 months in the past.
Nonetheless, in the course of the earnings name on the identical day because the record-high income outcomes, Airbnb CFO David Stephenson cautioned concerning the upcoming months.
“Q2 is popping out to be slightly bit more durable comp given omicron final 12 months, however we’re seeing total secure demand for the again half,” Stephenson mentioned on the name.
As of Wednesday afternoon, Airbnb inventory dropped almost 14% — the steepest fall since December 2020, per Bloomberg information.
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Final week, Airbnb introduced over 50 new options, together with the introduction of Airbnb Rooms, which gives extra particulars relating to privateness within the dwelling (whether or not or not a toilet is shared, if the room has a lock).
