After Airbnb hit the brakes earlier this year, the rental platform has now decided to hand in papers to go to the fair. The company has been hit hard by the corona crisis this year, but is nevertheless seeing bright spots.
In the first nine months of the year, it posted a loss of 590 million euros on a turnover of 2.1 billion euros. The biggest blow fell in the second quarter – the months of April, May and June – when many countries lockdown sat. The bright spot can be seen in the third quarter: a profit of 184 million euros.
In need of travel, but no hotels
Airbnb saw its revenue “drop significantly” in early 2020, but then notes that demand rebounded within two months, despite limited international travel. “People wanted to get out of their homes and travel, but they didn’t want to go far or to busy hotels.”
The company also sees the number of longer stays in Airbnbs increasing now that people can work from anywhere because offices are closed. “We believe the lines between travel and living are blurring and the pandemic has accelerated the ability to live anywhere.”
In April, during the period when Airbnb was hit hardest by the crisis, it received an investment of 0.8 billion euros and a loan of another 0.8 billion euros.