2022 does indeed mark the resumption of tourism after two years of health crisis which forced countries to close their borders and impose a series of restrictions to prevent the spread of the virus. But now the tourists are back. This is evidenced by the record number of reservations recorded by Airbnb in the spring alone, allowing it, for the first time over this period of the year, to be profitable: the platform recorded 103.7 million ” reservations of nights and experiences » from April to June.
However, the company’s chief financial officer, Dave Stephenson, admitted during a conference call with analysts that, over the period, the number of cancellations was ” higher than our internal estimates ». These cancellations are notably caused by those of international flights around the world, particularly in North America.
Despite this downside, the online accommodation reservation platform achieved quarterly revenue of $2.1 billion (+58% in one year), according to its earnings release released on Tuesday. It also generated 379 million in net profit, against losses of 68 million in the same period a year ago.
Although these figures are in line with analysts’ forecasts, they may have expected better, as Airbnb’s stock fell 8% in electronic trading after the close of trading.
“A solid summer season »
” Our second quarter results show that Airbnb has achieved growth and profitability at scale », said the Californian group. Dave Stephenson said he was confident for the current quarter, that of the summer holidays in the northern hemisphere. ” We are seeing strong demand for tourism worldwide », he assured. According to the release, Airbnb set its record single-day revenue on July 4, ” the sign of a solid summer season ».
On August 1, the World Tourism Organization (ILO) also highlighted the good health of the sector with nearly 250 million international arrivals between January and May 2022, i.e. almost half (46%) of the volumes of before the 2019 pandemic. Figures that contrast, in fact, with those of the two previous years. In 2020, the Covid-19 caused 320 billion dollars (273 billion euros) in losses for world tourism from January to May, according to the UNWTO. For this black year alone, the Organization had anticipated no less than 60% to 80% less international tourists. A year later, the recovery has been timid and uneven despite vaccination campaigns, with 77 million arrivals recorded in the first five months of 2021.
For its part, Airbnb is pleased to have been able to get through this difficult period during which many companies had to freeze recruitment or part with part of their employees and says ” well prepared for anything that can happen ». ” At the height of the pandemic, we made many tough decisions to reduce our expenses, and our business emerged healthier and more focused. »says management.