Airbnb Predicts the Future? đź”®

Airbnb‘s CEO Brian Chesky had two big travel predictions this year. 1) That we could “expect longer trips after COVID” and 2) that “a record accrual of PTO” would boost end-of-year travel. Was he right about one or both? 🤔

Airbnb reported its Q3 2021 earnings today, and although it’s too early to say, Chesky’s two predictions are taking form in the company’s earnings.

Airbnb reported that long-term stays are becoming increasingly popular, an early confirmation of Chesky’s first prediction. Stays longer than 28 days were the company’s “fastest-growing category … and accounted for 20% of gross nights booked in Q3 2021.” 

Q4 may still lie ahead, but Chesky’s second prediction is shaping up nicely. A small decline in booking QoQ might set the stage for a bold Q4. The company raised its revenue outlook (by a lilllll’ bit) to reflect its confidence.

Airbnb reported net income of $834 million, up 280% YoY, on revenue of $2.24 billion. That revenue figure was 36% higher than the comparable period in 2019 (and lightyears ahead of this time last year, when COVID battered the travel industry.)  EPS worked out to $1.22, which had no comparable estimates (that’s a really good thing, in this case.) 

$ABNB accelerated 3.2% today. You can read the whole report here.

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