And one challenge is you have only so many marketing dollars.

Price hikes in some places were offset by a slight shift toward in-city rentals, which tend to be lower in price than whole-house rentals in beach and mountain destinations.Īirbnb has grown increasingly concerned about rising rates, which could be pricing out some consumers.So we have guests and we have hosts. The average nightly rate paid by Airbnb customers was $168, level with a year earlier, the company said. The company said cross-border bookings grew 36% over last year's first quarter, helped by travel to and within the Asia-Pacific region and bookings into North America. More of those people are booking international stays. In a letter to shareholders, Airbnb said its revenue and the gross value of bookings are both double what they were before the pandemic.Īirbnb is getting a lift from people who are traveling while they take advantage of the ability to work remotely and stay away from the office. That was below analysts' average prediction of $2.42 billion. The company predicted that revenue in the second quarter, which includes the start of the peak summer travel season, would be around $2.40 billion. The company said bookings will grow more slowly than revenue in the April-through-June period, and the average daily rental rate will be “slightly lower” than a year earlier. However, Airbnb said second-quarter bookings growth won't look as robust as they did a year earlier, when consumers were busy booking travel after hunkering down at home during the outbreak of COVID-19's omicron variant. “We have seen our highest number of active bookers ever despite continued macroeconomic uncerainty,” CEO Brian Chesky said during a call with analysts. Nights and experiences booked, a closely watched measurement for Airbnb, increased 19% to 121 million, and the company valued the bookings made in the quarter at $20.4 billion, a 19% increase. Revenue climbed 20% to $1.82 billion, beating Wall Street's forecast of $1.79 billion, according to a FactSet survey. The company's profit compared with a loss of $19 million a year earlier and worked out to 18 cents per share. The weak outlook overshadowed Airbnb's first profit in the first three months of the year, a seasonally slow period for travel.

Airbnb extended stays