Airbnb: Almost 25% of travelers booked stays of 28 days or more: Travel Weekly
Airbnb CEO Brian Chesky expressed optimism that the “travel rebound begins” as the company reported revenue growth for the first quarter and highlighted encouraging trends towards longer average stays. long.
“Our business has rebounded faster than expected, [and] our business has improved without the recovery of two of our strongest historical segments: urban travel and cross-border travel, ”Chesky told investors during his first quarter earnings conference call Thursday.
For the quarter, Airbnb saw revenue increase 5% year-on-year to $ 887 million, an amount that also exceeded revenue levels for the same period in 2019. For the first quarter, it recorded a net loss of $ 1.17 billion.
The group also posted an increase in average daily rates of 35% year-over-year.
Chesky said Airbnb has benefited from a shift towards more flexible travel habits, fueled in part by the proliferation of remote work policies in the era of the pandemic.
Almost a quarter of Airbnb nights booked in the first quarter were for stays of 28 nights or more. In 2019, only 14% of the nights booked by the group were for stays of 28 nights or more.
“People are finding that they don’t need to be tied to one place to live and work,” Chesky said. “They get into cars and go to small towns and rural communities, many of which don’t even have hotels. People travel anytime, anywhere, and they stay longer.”
Airbnb wants to add hosts
Going forward, Chesky said the company will focus on recruiting more hosts. The platform currently has around four million hosts and a total of 5.6 million hosting listings. The company said about 90% of its hosts are what it calls individual hosts, compared to professional hospitality providers.
At the end of February, the company launched its first large-scale marketing campaign in five years, aimed at educating customers about the benefits of hosting and encouraging them to sign up on the Airbnb platform. At the same time, Airbnb streamlined the host registration process.
“We make it even easier to become a host by reducing the number of steps to become a [one], and as we reduce the number of steps, the conversion rate of hosts becomes even easier, “said Chesky.” I expect to get millions more hosts in the years to come on Airbnb. “
Chesky added that the company plans to unveil a suite of new tools and services on May 24, many of which will be designed to further enhance the host experience. He described the upcoming rollout as “the most comprehensive update to Airbnb service in 12 years.”
Meanwhile, in anticipation of a supply shortage in popular non-urban markets this summer, Chesky said the company plans to focus on efforts to redirect users to markets with more available inventory.
“Now that customers tell us they’re a lot more flexible about where they travel, we can shift demand to where we have supply,” Chesky said. “There are many opportunities for us to direct demand where supply is available, which will allow us to steadily increase the occupancy rate.”