Airbnb (NASDAQ:ABNB) shares rose 5% Wednesday amid heightened online searches by people looking to travel after a year of pandemic-induced lockdown.
In the 7-day period from May 18 to 24, the volume of searches on Airbnb by people in EU member states looking for cross-border stays within the bloc increased by up to 31% compared to the same period in 2019.
On May 24, the company announced the biggest top-to-bottom upgrade of the Airbnb service, influenced by shifts in the way people are choosing to travel. The company effected over 100 upgrades to its platform in preparation for the upcoming travel boom.
In the words of CEO Brian Chesky, “Travel rebound will be unlike anything we have ever seen before.”
Data cited by the company for Europe is an indicator of the impending boom in travel as people look to unshackle themselves.
Of the new listings that were activated and booked in Q1 2021, 50% received a reservation request within four days of activation. For the year ending April 30, 2021, the average annual earnings per homes host who has welcomed at least one guest on Airbnb was about $9,600.
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