Airbnb reported a solid performance in Q3 2021 announcing a higher activity than it had before the Covid-19 pandemic. As a result, in the third quarter of this year, which corresponds to the summer season in the northern hemisphere, it recorded a revenue well above the same period in 2019. Its revenue reached $2.23 billion, much better than expected.
According to CNBC news, Airbnb had reported in its second-quarter letter to shareholders that it expected the Covid delta variant to influence travel behavior. The variant could also cause year-over-year comparisons for nights and experiences booked and gross booking value “more volatile and non-linear.”
The third quarter of 2021 was Airbnb’s best quarter to date. commented Airbnb. The pandemic has led to a revolution in the way we live, work and travel and we are constantly innovating to meet this new way of traveling and livingCEO and co-founder Brian Chesky
Given that the Covid-19 pandemic affected the tourism sector in 2020, Airbnb is comparing its financial results to those of 2019, the same as a growing number of companies. In the second quarter of 2021, the group had already achieved a 10% higher revenue than the corresponding period of 2019, which was before the start of the coronavirus pandemic. This time, it is 36% above the third quarter of 2019.
New trends are being observed such as long stays (20% of bookings were for more than 28 days), travel close to home (40% of rentals within 500 km of home) and more often in the countryside (+40% compared to 2019). “The newfound flexibility thanks to telecommuting has led to a revolution in the way we travel,” Airbnb announced. “Millions of people can travel more often, longer, and to more places.”
The group saw its net income nearly quadruple (+280%) to $834 million, the largest ever for the company. In the fourth quarter, Airbnb expects revenue of between $1.39 billion and $1.48 billion, which would be a 25% to 33% increase over the last three months of 2019.