During Q1, 24% of Airbnb stays were over 28 days
Airbnb said holiday bookings have skyrocketed as many countries begin to emerge from lockdowns.
In the first quarter, its bookings exceeded levels seen before the pandemic, but online travel platforms have seen improvements in the UK and France.
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Overall, the number of bookings rose 52% to $10.3 billion as customers opted for rural vacations and long-term stays.
However, the company registered with the NASDAQ has repaid its Covid-related loan, and despite its high revenues, it announced overall losses.
Airbnb has made its pre-tax net loss of $59 million compared to the same period last year, despite revenues rising to $886.9 million.
Many people were away from home to work remotely. During the first quarter, 24% of stays were over 28 days, an increase compared to 2019, but over 50% of reservations lasted more than a week.
Airbnb has increased its list of non-city regions by nearly 30% as its platform has more than 4M cities worldwide.
“The conditions are not normal yet, but they’re improving. Unlike what we’ve seen before, we’re expecting a travel rebound,” the company said in an update to investors.
Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, told the BBC that growth in rural use will help boost Airbnb’s reputation in the long term.
“That trend also helps reduce the number of complaints from neighbors about the rough weekend reekers that have plagued companies in recent years. These concerns have led to the creation of companies in several major cities around the world. It led to restrictions on how it operates.”
