Airbnb and OTAs turn customer cash into profit

Travel sites rake in millions from holding guests’ payments in money-market funds

Feb 1, 2023

Airbnb and OTAs invest billions of dollars of their customers’ money for their own profit. Thanks to rising interest rates, returns on these investments are higher than ever.

In the third quarter of 2022, Airbnb collected $58.5 million in interest income on its own cash as well as its customers’ cash, a whopping uptick from the $3 million it made over the same period in 2021.

Get the full story at The Wall Street Journal (subscription only) and the Desert News

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