Airbnb said customers who pay higher prices will increase their travel demand
Airbnb’s first-quarter revenue showed a strong recovery in North American travel as the easing eased as customers paid higher rates for larger and larger rural properties.
Airbnb’s quarterly revenue of $ 887 million rose 5% over the same period last year. Wall Street expected revenue of $ 721 million in the quarter.
Reserves – $ 64.4 million – were up 13 percent from the first quarter of last year, with an average daily rate of $ 160, up 35 percent year-on-year.
The gross value of the reservation – the total number of nights booked and experiences booked – was $ 10.3 billion, 52 percent more than the simultaneous impact of pandemics on travel in 2020, and 3% higher than in 2019. On FactSet, analysts expected $ 7.878 billion.
The company said the rise was driven by ways to get more expensive bookings: more trips that included whole families, more whole house bookings, and more out-of-town destinations. The supply of active listings has been flat since the fourth quarter of 2020, the company said, although the number of hosts offering non-urban real estate has increased.
Despite a strong line of revenue, Airbnb had a net loss of $ 1.8 million in the first quarter, much higher than Wall Street’s expectation of a loss of $ 680 million.
Airbnb said a number of one-off costs have contributed to the severe deficit, including stock-based compensation, costs associated with emergency funding secured during the pandemic, and the termination of the San Francisco office lease.
Discounted for these costs – as well as interest, taxes, amortization and amortization – Airbnb said its adjusted ebitda was subtracted from $ 59 million, exceeding analysts ’expectations, according to data agreed by Capital IQ.
The company said it expected reserves to be higher in the current quarter than in 2020, given the high impact of the pandemic in that period last year. He said they expected the inflated prices to continue.
“Along with easing the availability of vaccines and some travel restrictions, guests have been more willing to search for and book trips throughout the year,” Airbnb said.
He warned that his business was less predictable outside the US. In Europe in particular, the recovery depended on the “severity and duration” of the restrictions on continuous travel.