Airbnb ready for a sizzling summer

Airbnb reported that business had eclipsed pre-pandemic 2019 levels in some markets over Easter
Airbnb reported that business had eclipsed pre-pandemic 2019 levels in some markets over Easter
REUTERS

Airbnb has boosted Wall Street’s expectations for the coming months as it prepares for a bumper summer travel season after the loosening of Covid-19 restrictions across the world.

The property-sharing group cited robust demand across America and Europe, reporting that business had eclipsed 2019 levels in some markets over Easter.

It projected revenue of between $2.03 billion and $2.13 billion in the three months to the end of June, ahead of analyst forecasts of about $1.96 billion. Shares in Airbnb rose by 5.2 per cent, or $7.50, to $152.59 during after-hours trading last night. The group, based in San Francisco, was founded in 2008 and has a market value of $92.3 billion. It listed in December 2020.

Revenue rose 70 per cent to $1.51 billion