Airbnb Revenues, Gross Bookings, Average Daily Rate Jump

Scott Peters
04 May, 2022
New York City

Airbnb, Inc reported first quarter revenues increased 70% to $1,5 billion and net loss shrank to $19 million from $1.2 billion a year ago. 

Diluted loss per share in the quarter fell to 3 cents from $1.95 a year ago. 

Nights and experiences booked in the quarter jumped to $02.1 million from 64.4 million a year ago. 

In the first quarter, gross booking volume soared to $17.2 billion from $10.3 billion a year ago. 

The long-term stays of 28 days or more continue to be the fastest-growing category by trip length compared to 2019 and are at an all-time high.

Long-term stays accounted for 21% of gross nights booked in the first quarter 2022, up from 13% in the first quarter 2019 and down from 24% in the first quarter 2021.

In the quarter, the non-urban gross nights booked soared 80% from the first quarter in 2019 domestic gross nights booked also increased 65% in the period. 

Gross nights booked to high-density urban destinations grew 80% compared to first quarter 2021, exceeding pre-pandemic first quarter 2019 levels, and gross nights booked for cross-border travel more than tripled from first quarter 2021, returning to near pre-pandemic first quarter 2019 levels. 

U.S. and North America bookings in the quarter rose 25% from a year ago and jumped 55% from the first quarter in 2019. 

EMEA bookings in the quarter rose 20% above the first quarter levels in 2019 but Asia Pacific travel remained depressed in the period as the region historically has relied on cross-border travel. 

Latin America bookings in the quarter were 65% above the levels reached in the first quarter 2019. 

Average daily rate increased 5% to $168 from the quarter a year ago surged 37% from the same period in 2019 driven by the price increase and business mix shift towards booking in North America, entire homes, non-urban destinations.