Airbnb Irish unit staff receive $ 55.46 million in share-based salary

Last year, staff at an Irish Airbnb unit received a wage boon following a share-based payment of $ 55.46 million (€ 48.94 million).

According to accounts filed with the Companies Office, Airbnb Ireland staff shared a total salary of $ 98.6 million last year. This included a salary of $ 43.14 million and share-based payments of $ 55.46 million, which equates to an average salary of approximately $ 200,000 (€ 177,000) per employee for the year. . The number of employees increased from 498 to 444 during the year.

Share-based payouts contributed to overall compensation, more than doubling last year from $ 39.36 million in 2019.

Airbnb is headquartered for its operations in Europe, the Middle East and Africa in Dublin. Significant salary increases for Airbnb Ireland’s customer support, administration and marketing staff came even as revenues plunged 38%, from $ 1.1 billion, to $ 1.79 billion .

The Dublin-based company operates the online marketplace for Airbnb outside the United States, China and part of Japan.

The accounts noted that in early 2020, as Covid-19 disrupted travel around the world, Airbnb’s business declined significantly. “But within months, the business model started to rebound even with limited international travel,” the accounts said.

“Despite this rebound, the Covid-19 pandemic continues to have a significant and unfavorable impact on our sales and financial results for 2021.”

Numbers

The company recorded a pre-tax loss of $ 3 billion. This is mainly due to a $ 2.57 billion non-cash impairment related to intellectual property. The losses also include a combined non-cash depreciation and amortization of $ 422 million.

Airbnb Ireland sold its intellectual property rights relating to the EMEA and Asia-Pacific regions during the year to its parent company, Airbnb Global Holdings, for $ 3.6 billion.

The directors state that as a result of the sale and distribution of the intellectual property during the year, the company has moved to a limited risk distribution model and is compensated accordingly.

Directors’ compensation last year nearly tripled to $ 2.6 million, including a salary of $ 622,000, long-term incentive plan benefits of $ 1.98 million and pension contributions of $ 16,000.

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