Airbnb might have more staying power than the travel industry itself. The $97 billion vacation-booking platform’s post-pandemic bounce-back looks set to make it more profitable than ever. Being asset-light makes it nimble, but Chief Executive Brian Chesky took necessary risks.
Figurines are seen in front of the Airbnb logo in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/Illustration/might have more staying power than the travel industry itself. The $97 billion vacation-booking platform’s post-pandemic bounce-back looks set to make it more profitable than ever. Being asset-light makes it nimble, but Chief Executive Brian Chesky took necessary risks.
Airbnb adapted to a world of lockdowns and travel restrictions, as bookings shifted away from densely packed cities and refocused on domestic getaways rather than hopping borders. After dipping in 2020, last year’s nearly $6 billion of revenue came in roughly 25% above 2019.show growth gathering steam: Revenue is up 70% year-over-year to $1.5 billion for the quarter.
Profitability has improved, too, with EBITDA swinging to positive territory, to $229 million. This is key. Fast-growing disruptors are often reluctant to cut costs. But Chesky tightened Airbnb’s belt, including the tough decision to . It takes Airbnb out of the danger zone of high-flying former unicorns stumbling over the transition to profitability – whether or not investors give it an upgrade.
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