Airbnb – high demand for North America summer travel

New Airbnb Inc. forecast estimates revenue will exceed Wall Street’s predictions of $1.97 billion, as the company registered “substantial demand” for post-pandemic summer travel in the United States.

“As we lap the beginning of the travel rebound that started last year, we are particularly encouraged by the compounding growth we are seeing in North America. U.S. domestic demand this year has so far outpaced our internal expectations and we are encouraged by U.S. international bookings exceeding 2019 levels”, explained CEO Brian Chesky.

“Higher than historical demand” was also recorded for the fourth quarter, “which indicates that consumer confidence to travel remains strong beyond the summer months.”

According to Airbnb, Expedia Group Inc. and Booking Holdings Inc., the summer to come is expected to be one of the best in the travel industry’s history, with increasing demand for popular touristic destinations, despite Omicron surges, inflation rates, oil prices and the ongoing war in Ukraine.

As the travel sector starts showing obvious recovery signs, Airbnb also recorded its best year during 2021 because, according to the opinion of the company’s representatives, a “new world of travel” is starting to show, while remote work policies worldwide have as well contributed to the considerable revenue increase.

The company reported $1.51 billion in revenues for the first-quarter of the year.

“So far from what I can tell, you’re still seeing improvements versus 2019 levels across European and U.S. geographies. What I can tell today, the demand for travel has not weakened in the U.S. or Europe”, Justin Patterson, analyst at Keybanc Capital Markets, concluded.

 

 

source: aljazeera.com