Airbnb's muted outlook signals prices weighing on travel

Rising travel costs and a murky economic outlook are beginning to weigh on consumer appetite for trips

May 10, 2023

The company said the number of nights and experiences booked in the current period will look unfavorable compared with a year ago, when there was a surge in demand following the outbreak of the Covid-19 Omicron variant. As a result, the company expects year-over-year growth in nights and experiences booked to increase at a slower pace in the second quarter than revenue.

Key takeaways

  • The post-Covid rush to travel is losing steam, and some consumers are reining in leisure budgets amid persisting inflation and an unsteady economy;
  • Airbnb expects revenue of $2.35 billion to $2.45 billion in the three months ending in June, representing an increase of 12% to 16% from a year earlier and its slowest pace of growth yet;
  • The forecast came on the heels of a quarter that set records in several metrics. Revenue in the three months ended March 31 increased 20% to $1.82 billion, Airbnb’s highest ever for that period.

Get the full story at Yahoo! Finance

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