Monday, July 4, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Airbnb says its record-high bookings in 1st  3 months signal travel rebound

AFPbyAFP
May 4, 2022, 8:00 pm
in Business, Transport & Tourism
Reading Time: 2 mins read
A A
85
SHARES
Share on FacebookShare on TwitterShare on Email

SAN FRANCISCO, United States—Bookings on Airbnb hit a new high in this year’s first quarter, the home rental platform reported Tuesday, in a fresh signal that travel demand stifled by the COVID-19 pandemic is being unleashed.

Despite the Omicron surge and a persistent level of infections, Airbnb bookings for lodging and travel “experiences” topped 102 million in the first three months of this year, setting a new quarterly record, the company said in an earnings release.

“Guests are booking more than ever before,” Airbnb told shareholders in a letter.

“Looking ahead, we see strong sustained pent-up demand.”

The company’s stock price rose more than 3 percent to $150.50 in after-market trades following the release of the earnings figures.

ADVERTISEMENT

Revenue in the first quarter was $1.5 billion, up 70 percent from the same period a year earlier, the company said, adding that its quarterly loss shrank to $19 million from a loss of $1.2 billion in the first quarter of 2021.

The San Francisco-based company’s earnings reflect an ongoing recovery in the travel industry and show that Airbnb is gaining share in the market, Baird analyst Colin Sebastian said in an investment note.

“Airbnb exceeded expectations on almost every line item, with strong bookings trends for the summer and balance of the year,” Sebastian told investors.

“Looking further ahead, travel recovery in urban areas, cross-border and (the Asia-Pacific region) should fuel additional bookings growth.”

The company said that trends of people booking stays away from urban areas and staying relatively close to home continue, but that guests are returning to cities and making cross-border trips. AFP

The strong earnings come a week before a May 11 event at which chief executive Brian Chesky is to announce what the company bills as the biggest change to Airbnb in a decade.

“We will introduce a  new Airbnb for a new world of travel,” the company said in their earnings letter, adding that “with a completely new way to search, guests will be able to discover millions of unique homes they never thought to search for.”

The booking platform has found traction around the globe, but is fighting various regulatory challenges in several jurisdictions.

In March, the European Union’s top court ruled that the property rental platform must share booking data with regional tax authorities in Brussels.

Tags: AirbnbCOVID-19 pandemicOmicrontravel booking
ADVERTISEMENT
AFP

AFP

Related Posts

MARCVENTURES HOLDINGS, INC.: Notice of the Annual Stockholders’ Meeting

byManila Standard
July 4, 2022, 2:33 pm
0
131
Marcventures receives 3 ISO re-certifications for quality standards

00

Read more

PEZA willing to accredit Bulacan airport ecozone

byOthel V. Campos
July 3, 2022, 7:10 pm
0
308
PEZA expects major investment projects to  seek registration in Q1

The Philippine Economic Zone Authority said over the weekend it is willing to consider the application of San Miguel Corp.’s...

Read more

Weak peso, higher WESM charges to raise Meralco rates this month

byAlena Mae S. Flores
July 3, 2022, 7:00 pm
0
310
Meralco announces P0.31 per kWh hike in December rates

Consumers of Manila Electric Co. (Meralco) may have to brace for higher power rates in July due to the peso...

Read more

GFNI buying Palawan nickel mine, 20% of Chinese firm

byJenniffer B. Austria
July 3, 2022, 6:50 pm
0
268
FNI buys additional 24% stake in port operator

Nickel producer Global Ferronickel Holdings Inc. (GFNI) plans to complete two acquisitions this year in a bid to expand mining...

Read more

Cebu Pacific resumes Sydney flights; PAL vows to help revive travel sector

byDarwin G. Amojelar
July 3, 2022, 6:40 pm
0
236
Cebu Pacific resumes Sydney flights; PAL vows to help revive travel sector

Cebu Pacific said over the weekend it resumed direct flights from Manila to Sydney, Australia, following the easing of travel...

Read more

SteelAsia eyes opening of 600,000-ton melt factory in Lemery, Batangas by 2024 with green technology

byOthel V. Campos
July 3, 2022, 6:30 pm
0
226
SteelAsia eyes opening of 600,000-ton melt factory in Lemery, Batangas by 2024 with green technology

SteelAsia Manufacturing Corp. plans to start the operations of the country’s first industrial-scale melt shop in 2024 using the latest...

Read more

Stories you may like

  • Denying Villafuerte justice

    Starting on the wrong foot

    2512 shares
    Share 1005 Tweet 628
  • Of course, it was BBM’s project

    33106 shares
    Share 13242 Tweet 8277
  • The next, now, or never in new romance film ‘Ngayon Kaya’

    2307 shares
    Share 923 Tweet 577
  • Herbosa will make an excellent DOH Secretary

    2016 shares
    Share 806 Tweet 504
  • Property relations in marriage

    1121 shares
    Share 448 Tweet 280

Print Edition

View More

Recent Posts

  • MARCVENTURES HOLDINGS, INC.: Notice of the Annual Stockholders’ Meeting
  • Ookla: 5G in PH making significant advances
  • Enjoying everyday wellness in Cebu
  • Saudi welcomes 1 million for biggest hajj pilgrimage since pandemic
  • Covid-19 misinformation bolsters anti-vaccine movement
  • Don’t look up: no fireworks for some cities on US independence holiday
  • London marks 50 years of Pride
  • In Cuba: sleeping fully clothed in case of building collapse

Advertisement

Latest News

Don’t look up: no fireworks for some cities on US independence holiday

byAFP
July 4, 2022, 12:00 pm
0
146
Don’t look up: no fireworks for some cities on US independence holiday

Fireworks buffs in some US cities are in for a dud of a July 4 holiday as supply chain disruptions...

Read more

London marks 50 years of Pride

byAFP
July 4, 2022, 11:30 am
0
141
London marks 50 years of Pride

By Phil Hazlewood London on Saturday celebrated the 50th anniversary of its first Pride parade, marking half a century of...

Read more

In Cuba: sleeping fully clothed in case of building collapse

byAFP
July 4, 2022, 11:00 am
0
156
In Cuba: sleeping fully clothed in case of building collapse

By Rigoberto Diaz "When we go to sleep, it is with the fear of not waking up again," says Elisa...

Read more

Brazil sets new six-month Amazon deforestation record

byAFP
July 4, 2022, 10:30 am
0
138
Brazil sets new six-month Amazon deforestation record

Deforestation of the Brazilian Amazon reached a record level during the first half of 2022, the INPE national space agency...

Read more

US drought exposes murky mob past of Las Vegas

byAFP
July 4, 2022, 10:00 am
0
151
US drought exposes murky mob past of Las Vegas

By Huw Griffith Mobsters who end up sleeping with the fishes are usually never seen again. Firearms are displayed for...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App