U.S. authorities are taking a number of measures to ensure smooth flights for the record number of people set to take the skies this Thanksgiving.
01.11.2023 - 22:21 / skift.com / Asia Pacific / Justin Dawes
Airbnb’s recent quarter was its most profitable ever and also the best in terms of revenue, according to a shareholder letter the company released Wednesday.
Airbnb reported net income of $1.6 billion, excluding a one-time income tax benefit, and revenue growth of 18%, to $3.4 billion. Airbnb expects to generate between $2.13 billion and $2.17 billion in revenue next quarter, which would be an increase of between 12% and 14%.
“We are seeing greater volatility early in Q4, and are closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand,” the company said in its letter to shareholders.
The record numbers were driven by 113 million bookings last quarter, an increase of 14% from the same period last year.
A significant area of growth has been in the Asia Pacific region, which Airbnb said has fully recovered to pre-pandemic levels, with gross booking growing 23% last quarter compared to the same time period in 2019. Notably, China outbound travel increased 100% last quarter compared to the year prior.
The company said it also said more guests booked stays in high-density cities last quarter.
Airbnb said it has added nearly 1 million active listings this year. The number of active listings grew by 19% last quarter, with the highest growth in Asia Pacific and Latin America.
“We’re focused on making hosting just as popular as traveling on Airbnb, and we believe our approach is working,” the company said in the letter.
The company last quarter said that it had surpassed 7 million active listings. In the third quarter alone, Airbnb hosts made more than $19 billion, the letter said.
Airbnb said it plans to release dozens of new features on November 8. The company previewed a couple of them in the shareholder letter.
One is a toggle that users can turn on to search for listings that are pet-friendly. Another is an amenities filter for king beds.
The upgrade also includes listings available on dates slightly outside of a user’s search, recommended if there are not enough listings available during the preferred time.
U.S. authorities are taking a number of measures to ensure smooth flights for the record number of people set to take the skies this Thanksgiving.
When I first moved to New York City from the Midwest as a freshman in college, I quickly learned to stop myself from talking to strangers.
Tigre It’s unusual to hear a rum based cocktail described as “joyful pain” but that happens at Tigre, the intimate, retro chic bar that opened this week on New York’s Lower East Side. The reason for this description is the rum, or rather rums, in the recommended cocktail Airmail composed of champagne and three symbiotic rums from Martinique, Venezuela and Haiti, countries in a region in which slavery played a part in their production. The social history detailed by the maître d’ is, obviously, painful but the cocktail itself is delicious, a choice on the “then” section reinventing classics of the six part menu. (Their screwdriver also has eight types of citrus including three types of orange.) Creative concoctions such as Mister Softee with Singani, sage and pina appear in the “Now” section and martini fans can dictate exact specifications with a ratio of 4:1 to 16:1 among other options.
In March, I decided to leave the familiar hustle and bustle of Brooklyn and hit the road in search of my new home. My drive across the country landed me in Denver, where I fell in love with the sun setting over the mountains and the wide-open streets free of mysterious smells and rat corpses.
In 2019, the Vessel became the centerpiece of New York City's Hudson Yards neighborhood. Standing at 150 feet tall, with a honeycomb-looking facade, the Vessel cost an estimated $200 million to create, as Insider previously reported.
The return of North American flights to Asia-Pacific is accelerating heading in to 2024, as carriers bet on the region as the next source of high-margin revenue at a time of soaring costs.
Four travel tech startups have announced fundraises of over $29 over the past week.
Airbnb is looking to reengage its guests with all-new ratings and review systems, along with a brand-new collection of “most-loved” homes around the world.
Good morning from Skift. It’s Tuesday, November 7. Here’s what you need to know about the business of travel today.
Now that Airbnb has seen its listings numbers collapse in New York City because of a regulatory crackdown, the short-term rental company thinks boutique hotels can help fill the gap.
Ryanair on Monday forecast a record annual profit and promised to pay investors a regular dividend for the first time after fares soared 24% during its key summer season.
Earlier this fall, a group of friends and I set out on a girls' trip to Pennsylvania. It was time to escape New York City, so we booked an Airbnb in the Poconos.