Airbnb launched its first quarter outcomes for 2023 on Monday, and the corporate reported document income and reserving highs.
In Q1, Airbnb income grew by 20% to $1.8 billion, with a web revenue 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 document excessive with a rise of 19% from the yr earlier than and over 120 million bookings.
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Airbnb mentioned had a 36% improve in cross-border bookings, with a major improve in Asia Pacific areas which had a 40% year-over-year improve in bookings.
In line with 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 Accommodations.com, additionally noticed record-breaking Q1 income, up 18% from a yr in the past.
Nevertheless, through the earnings name on the identical day because the record-high income outcomes, Airbnb CFO David Stephenson cautioned in regards to the upcoming months.
“Q2 is popping out to be a bit bit more durable comp given omicron final yr, however we’re seeing general steady demand for the again half,” Stephenson mentioned on the name.
As of Wednesday afternoon, Airbnb inventory dropped practically 14% — the steepest fall since December 2020, per Bloomberg knowledge.
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Final week, Airbnb introduced over 50 new options, together with the introduction of Airbnb Rooms, which gives further particulars concerning privateness within the residence (whether or not or not a toilet is shared, if the room has a lock).