Airbnb publishes record results with revenue up 300 per cent year on year
Airbnb has reported record intake for Q2 of 2021 with revenue beating pre-pandemic levels as vaccination programmes boost travel.
The company achieved $13.4bn in gross booking value – up 320 per cent compared to the same period a year ago and up 37 per cent compared to 2019.
Revenue for Q2 hit $1.3bn a rise of 299 per cent compared to Q2 2020 when bookings took a battering in the depths of the Covid-19 crisis. Revenue was 10 per cent higher than pre-pandemic levels.
Airbnb Co-Founder and CEO Brian Chesky commented on the results saying: “We’re proud of our strong results this quarter, which again surpassed 2019 revenue levels.
“Because of our adaptable business model and continued product innovation to meet the changing needs of our guests, Airbnb is leading the travel rebound” he added.
The company noted that strong results had been driven by the success of the vaccine rollout with guests from countries with high vaccination rates, including the U.S. and parts of Europe, fuelling the travel recovery.
Holiday bookings through the site were almost at pre-pandemic levels in Q2: 83.1m nights and experiences were booked through Airbnb, up almost 200 per cent compared to last year and down just one percent compared to 2019.
The company said that while the delta variant of the virus likely to cause unforeseen disruption to recovery they are expecting Q3 2021 revenue to be “our strongest quarterly revenue on record.”
Airbnb’s share price has risen by 2.02 per cent today.
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