Airbnb said on Thursday that it expects “a travel rebound unlike anything seen before” as the home sharing platform posted a major loss for the previous quarter.

The San Francisco “sharing economy” firm reported a $ 1.2 billion loss in the first quarter, primarily due to accounting requirements, debt payments and lump-sum costs for other items.

Revenue rose five percent to $ 887 million from a year earlier, with gross bookings up 52 percent to $ 10.3 billion.

The company said that with the emergence of epidemics in the world, travel is indicating a strong rebound.

The company said in its quarterly update, “We believe the changes we’ve seen in the journey are long-lasting.”

“The world is never going back like before, and that means the journey is never going back as before. But the journey is starting back. Although the conditions are not normal right now, they are improving. , And we expect a travel rebound unlike anything we’ve seen before. ”

Airbnb said that during the epidemic its home-sharing model has become more attractive and more people are using the service to live longer.

The company said in a letter to shareholders, “Guests are not just traveling on Airbnb, they are staying on Airbnb.”

Some 24 percent of the stay booked in the quarter was for 28 days or more, up from 14 percent in 2019. And 50 percent were for a stay of at least seven nights.

Airbnb said it would hold a “special announcement” on May 24 to unveil “the most comprehensive update to Airbnb’s service in 12 years”, adding “we’ll share insights on how the journey is not only healing, Rather fundamentally changing. ”

Airbnb’s stock price fell 3.2 percent to close at $ 135.75 on Thursday.

The San Francisco “sharing economy” firm reported a $ 1.2 billion loss in the first quarter, primarily due to accounting requirements, debt payments and lump-sum costs for other items.

Revenue rose five percent to $ 887 million from a year earlier, with gross bookings up 52 percent to $ 10.3 billion.

The company said that with the emergence of epidemics in the world, travel is indicating a strong rebound.

The company said in its quarterly update, “We believe the changes we’ve seen in the journey are long-lasting.”

“The world is never going back like before, and that means the journey is never going back as before. But the journey is starting back. Although the conditions are not normal right now, they are improving. , And we expect a travel rebound unlike anything we’ve seen before. ”

Airbnb said that during the epidemic its home-sharing model has become more attractive and more people are using the service to live longer.

The company said in a letter to shareholders, “Guests are not just traveling on Airbnb, they are staying on Airbnb.”

The San Francisco “sharing economy” firm reported a $ 1.2 billion loss in the first quarter, primarily due to accounting requirements, debt payments and lump-sum costs for other items.

Revenue rose five percent to $ 887 million from a year earlier, with gross bookings up 52 percent to $ 10.3 billion.

The company said that with the emergence of epidemics in the world, travel is indicating a strong rebound.

The company said in its quarterly update, “We believe the changes we’ve seen in the journey are long-lasting.”

“The world is never going back that way, and that means the journey is never going back the way it was. But the journey is starting to return. Although conditions are not yet normal, they improve Happening, and we look forward to a return trip, like we’ve never seen before. ”

Airbnb said that during the epidemic its home-sharing model has become more attractive and more people are using the service to live longer.

The company said in a letter to shareholders, “Guests are not just traveling on Airbnb, they are staying on Airbnb.”

Some 24 percent of the stay booked in the quarter was for 28 days or more, up from 14 percent in 2019. And 50 percent were for a stay of at least seven nights.

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