Connect with us

Hi, what are you looking for?


Airbnb predicts ‘significant’ travel rebound


Online booking platform Airbnb has said it is preparing for a “significant” travel rebound as the world emerges from coronavirus lockdowns.

However the company said it was still “too early” to predict how the business would fare this year.

The company’s revenue dropped 30% last year to $3.4bn (£2.4bn), as Covid-19 restrictions kept many from travelling.

That was better than many other travel companies, as people took to their cars for longer stays in private homes.

The firm said it has already seen a smaller decline in travel this year than in the last three months of 2020, when revenue was down 22% year-on-year at $859m. That was better than many analysts had expected,given the resurgence of Covid cases and fresh lockdown restrictions in many areas.

“Travel is coming back and we are laser-focused on preparing for the travel rebound,” its chief executive Brian Chesky said.

Mr Chesky said he expected new travel preferences to emerge from the pandemic that will benefit his company.

He said the firm is optimistic that staying in private homes will appeal to people travelling to see family and friends. Remote working patterns will also allow people to take more frequent weekend trips – or even spend several months away from home, he suggested.

“We’ve seen a number of new use cases,” he said. “We don’t think we’re ever going to go back to travel in 2019. It’s going to change and it’s going to be different.”

However, Airbnb also warned that it still had “limited visibility for growth trends in 2021 given the difficulty in determining the pace of vaccine rollouts and the related impact on willingness to travel”.

“We are not providing an outlook for the rest of 2021 at this time,” it said in its first financial update for investors since its public listing in December.

Airbnb, which is active in more than 220 countries, said people around the world are travelling more domestically during the pandemic – but not enough to make up for the loss of business from international tourism.

Its business in Europe, which is fuelled by cross-border travel, was the hardest hit region in 2020, especially the UK, Germany and Italy. North America was the most stable.

Overall the firm lost $4.6bn last year, including $3.9bn in the last three months of the year, when it was hit with high costs connected with its stock market debut.

A recent survey conducted for the company in the US found that more than half of about 1,000 respondents had already booked or were planning to travel this year.

On a call with analysts, the firm faced some questions about its relationships with hosts, which has been strained this year partly due to financial losses suffered after cancellations.

But Angelo Zino, an equity analyst at CFRA, said he expected revenue to come “roaring back” as vaccines become widely distributed in the US and Europe by the summer, “reflecting the enormous amount of pent-up demand in the ecosystem”.

“We believe Airbnb’s business model and growth opportunities are highly attractive and struggle to find a better way to play the travel space,” he said.

Read more:
Airbnb predicts ‘significant’ travel rebound

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Lloyd’s of London could leave its iconic City of London headquarters after four decades in one of the most consequential signs yet of how...


As we enter a new year, I want to talk about the importance of balance, perspective, support and productivity and I’m here to make...


London-based edtech company MyTutor has acquired Fire Tech, a training platform that teaches children technology skills such as coding. The acquisition will see MyTutor...


British autonomous vehicle startup Wayve has raised $200m (£147m) in a funding round backed by Microsoft and Virgin. The London-based firm will use the...


London-based contract automation platform Juro has raised $23m (£16.9m) in a Series B funding round. The funding was led by Eight Roads, a global...


To sustain business growth, it’s crucial to create key business opportunities. Don’t be so busy in your day-to-day that you miss them … Faced...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.