• Airbnb,   the online home rental company, posted better-than-expected revenue and   guidance after it experienced fewer cancellations as a result of the Omicron   virus variant.

  • The number of nights and experiences booked in the fourth quarter   did however miss estimates, falling nearly 8% from the prior quarter to 73.4   million. This figure is up 59% year-over year, due to Covid-19 weighing   heavily on the travel industry in that prior period.

  • Revenue for the fourth quarter surpassed expectations rising 78% to   $1.5 billion year-over-year. The gross booking value (a metric that Airbnb   uses to track host profits, cleaning fees, taxes and service fees) came in at   $11.3 billion in the fourth quarter, up 93% year-over-year.

  • Adjusted EBITDA was positive, and the company’s highest ever at $333   million, on revenue growth and cost structure discipline. Net income came in   at $55 million, a decrease from the third quarter, but a major improvement on   the $3.89 billion loss it posted in the fourth quarter of 2020, when it was hit   by IPO costs and pandemic restrictions.

  • As remote work now becomes a permanent option for millions, so does   the option of living anywhere in the world. One in five nights booked at   Airbnb were for stays of a month or longer the fourth quarter. Long-term stays,   of 28 nights or more, continue to be the fastest-growing category by trip   length, and is up 16% from Q4 2019, pre-pandemic. The company also said that   over the past two years the average trip length has increased by 15%, with   stays of more than seven days now constituting almost half of all gross   nights booked.

  • Airbnb is optimistic that despite near-term uncertainties there is clear evidence of pent-up demand. Average daily rates were up 20% from a year ago to $154 in the fourth quarter. December 2021 saw gross nights booked rise more than 40% compared to 2020. And at the end of January 2022, Airbnb had over 25% more nights booked than at this time in 2019, before the pandemic. The company expects revenue to be between $1.41 billion and $1.48 billion for the first quarter of 2022, around 15% higher than analysts had forecast.