May 13, 2021 | 5:11 PM
Airbnb beat Wall Street expectations regarding first-quarter bookings and total revenue, as the rapid coronavirus vaccination and easing restrictions encouraged more people to sign up for their vacation rentals.
On one hand Their income increased by 5% Year-on-year, while the total reserve value was $ 10.3 billion, representing a year-on-year increase of 52%. It also reported a total net loss of $ 1.2 billion.
The San Francisco-based company expects second-quarter revenue to be similar to 2019 levels, but added that it is too early to predict whether the recovery will continue at the same pace in the second half of 2021.
In recovery This quarter, factors such as the advancement of vaccination worldwide, as well as the increase in average length of stay, have had an impact.
According to their information, they noted strength in North American revenues and an increase in reserves in the United Kingdom, “immediately after British Prime Minister Boris Johnson announced plans to exit the blockade in February,” as well as a strong increase in bookings in France after travel restrictions were eased in May.
Additionally, in the case of the United States, it was people over the age of 60 – the first to get the vaccine – who increased searches on the platform by more than 60% between February and March 2021.
Additionally, about 24% of your nights booked before cancellations and adjustments were for longer stays, that is, 28 days or more. This is an increase of 19% compared to 2019.
An increasing number of guests are discovering that they do not need to be associated with a place to live and work. Additionally, during the first quarter of 2021, 50% of nights booked (prior to cancellation and modification) were for stays of at least seven nights.
The company highlighted.
With information from Reuters