Airbnb and Vrbo are overloaded with reservations

By Judy J. Beasley Last updated Jan 11, 2022

By Paul R. La Monica

March 29, 2021 12:30 PM EDT

CNN – After a year of confinement at home during the COVID-19 pandemic, many Americans are drawing inspiration from Nominated for induction into the 2021 Rock and Roll Hall of Fame The Go-Go.

“Vacation, everything I’ve ever wanted. Vacation, had to move away.

People are roaming the roads and airports for spring break trips this coming week and are already starting to make plans for the summer. And it’s good news for companies like Airbnb and its home-sharing rival Vrbo, which is owned by online travel giant Expedia (EXPED).

Airbnb shares rose more than 20% this year after the 2020 success initial public offering, while Expedia has climbed more than 30%.

Airlines companies and hotel stocks also jumped. United (UAL) and Southwest (LCV) are each up more than 30% in 2021. Hilton (HLT) and Marriott (MAR) both gained around 10%.

Consumers clearly want to start traveling again, especially as more adults are vaccinated.

“We’ve had a phenomenal recovery,” said Vrbo President Jeff Hurst in an interview with CNN Business. “We could see a real boom in leisure travel. “

An upsurge in vacations could lift all the boats in the area. Hurst, who is also Expedia’s co-head of marketing, said the company’s many other brands, including Hotels.com, Travelocity, Orbitz and Hotwire, are also starting to rebound.

“More and more people are looking for central urban destinations that have been argued during the pandemic. People are interested in going back to Las Vegas, ”said Hurst, adding that there is now a certain degree of freedom that people who have previously received coronavirus vaccines now feel.

“People will start to book more flights and hotels and resorts will make a big comeback,” he said.

But there will also be people who will want to drive a few hours to get to a rental house in the woods instead of flying to a beach or hill station and staying in a fancy hotel.

Hurst said that Vrbo, which was founded in 1995 as Vacation Rentals By Owner, is having its best start to a year in a quarter of a century in the United States, adding that people are also starting to book trips from. been much earlier than usual.

Airbnb is also booming. The company said earlier this month “That customers are increasingly looking for ways to meet safely and meaningfully connect with their loved ones” and his hosts said won a combined billion dollars since the start of the pandemic last year.

Places like southern Maine, the Jersey Shore, the suburbs of Austin, northern Arizona and – of course, the florida beaches – are hot spots for travelers, according to Airbnb.

Hurst de Vrbo said that another trend he is seeing is the rise of so-called “flexcation”. More and more people are willing to be away for longer periods.

The growing trend towards working from home and the availability of virtual education make it more desirable for people to be away from home for several weeks… even months.