Airbnb expects bookings in first quarter of 2022 to exceed pre-pandemic level

Airbnb on Tuesday forecast better-than-expected earnings in the first quarter after a short-term rental company reported strong quarterly results on domestic growth travel and longer guest stays at higher prices.

Airbnb expects profit for the current quarter from 1.41 billion to 1.48 billion dollars, which is higher than analysts estimate at 1.24 billion dollars. Refinitive IBES.

While the San Francisco-based company initially suffered from the pandemic, its business quickly recovered as people walked closer to home, where they stayed longer to work remotely. Since then, this trend has continued: in the fourth quarter compared to 2019, the number of nights outside the city was about 45%.

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“Nearly half of our nights booked in the fourth quarter were for a week or more. Every fifth booked night was intended for a month or longer. ” Airbnb said.

Strong demand also helped push prices charged by homeowners, with average daily rates rising 20% ​​to $ 154 in the fourth quarter. The company expects higher rates to strengthen first-quarter results.

Airbnb also got a boost from the postponement travel demand, and the hospitality sector has abandoned the temporary impact of the Omicron coronavirus variant.

Marriott International Earlier on Tuesday, results were reported that exceeded Wall Street estimates, and the hotel chain said travel the recovery remained intact.

Airbnbwhich is not particularly dependent on large cities for revenue, expects first-quarter bookings to significantly exceed the pre-pandemic level, leading to record gross booking costs.

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Guests don’t just travel on Airbnb – they live on Airbnb

“Almost two years after the pandemic, it is now clear that we are experiencing the biggest changes in travel since the advent of commercial flights. Remote work has saved many people from having to be in the office every day. As a result, people spread to thousands of cities, staying for weeks, months or even entire seasons at once. For the first time, millions of people can now live anywhere, ”the company’s letter to shareholders reads.

In the fourth quarter helped strong bookings in the North and Latin America compared to 2019, but Europe, the Middle East, Africa and the Asia-Pacific region, according to the company, were an obstacle.

У Latin Americabooked nights and impressions were 22% higher than in the 4th quarter of 2019 long-term sustainability in some countriesfor example, Brazil and Mexico, where both domestic and inbound cross-border travel continued to strengthen.

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Airbnb reported revenue of $ 1.53 billion in the fourth quarter and $ 6 billion for the full 2021 – 25% higher than in 2019.

By 2022, one of the three main areas Airbnb will “live on Airbnb”And developing new solutions and experiences around it. “Omicron’s influence has quickly dissipated and guests are confidently booking rooms for the summer travel season at the beginning of the year. In the US and Europe, in particular, we see that bookings made in the first quarter of 2022 are returning to
level before the pandemic. We are also seeing high demand Latin Americawhile growth in APAC has not yet recovered to 2019 levels, ”he said Airbnb about what 2022 looks like.

“Therefore, for the first time since the beginning of the pandemic, we expect that booked nights and impressions in the first quarter of 2022 will significantly exceed the level of the first quarter of 2019, which we believe will lead to our strongest quarter nights and booked impressions,” said. companies.

https://labsnews.com/en/news/business/airbnb-earnings-results-q4-2021/ Airbnb expects bookings in first quarter of 2022 to exceed pre-pandemic level

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