Airbnb: 'We're in our strongest peak travel season yet'
James ChappleAirbnb is "in the middle of its strongest peak travel season yet" after recording its highest-ever level of night and experience bookings during its second-quarter (three months to 30 June) – it’s most profitable to date.
The short-term rental giant exceeded 103 million night and experience bookings during Q2, generating net income of US $379 million and a net profit margin of 18%.
Q2 revenue, meanwhile, increased 58% year-on-year to US $2.1 billion, and exceeded Q2 2019 revenue by 73% driven by growth in nights and experiences.
Long-term stays of 28 days or more remained Airbnb’s fastest-growing category by trip length in Q2 versus 2019, with long-term stays increasing by nearly a quarter compared with a year ago and by almost 90% compared with Q2 2019.
Airbnb said travellers were also keen to return to cities, with bookings for higher-density urban areas increasing from Q1 into Q2 and once again exceeding pre-pandemic levels.
Another trend highlighted by Airbnb was an increase in guests booking earlier in Q2 2022 compared with Q2 2021. "Given this earlier booking, growth rates (compared to last year) decelerated in May and June," it said.
"Since the end of Q2, we’ve seen the growth in nights booked compared to last year reaccelerate from June to July as we enter peak travel season.
"We are in the midle of our strongest peak travel season yet. On 4 July, we recorded our highest single day revenue ever, signalling the strong summer season ahead."
Brian Chesky, Airbnb co-founder and chief executive, said: “The second quarter of 2022 demonstrates we have achieved growth and profitability at scale. Over the past year, we generated US $2.9 billion in free cash flow and our Q2 revenue is up more than 70% since Q2 2019.
"Our strength this quarter is the result of our ability to stay focused and disciplined while continuing to relentlessly innovate."
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Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU
