High Demand for WFH Leads to 67% Increase in Airbnb Revenue

The online property rental startup Airbnb was one of the companies severely impacted by the Covid-19 pandemic.

According to data from businessofapps.com, at the beginning of the pandemic, Airbnb still managed to generate revenue of US$842 million in Q1 2020.

However, with the increasing wave of infections and the implementation of lockdowns in various countries, Airbnb's revenue dropped by 60.2% to US$335 million in Q2 2020.

Airbnb then began to recover throughout Q3 2020 to Q2 2021, with revenue ranging from US$859 million to US$1.3 billion.

In Q3 2021, its revenue even increased to US$2.24 billion. This achievement grew by 67.56% compared to the previous quarter and increased by 66.7% compared to the same quarter in 2020.

Airbnb Highly Booked for WFH

Based on data from businessofapps.com, the increase in Airbnb's revenue was driven by the high number of room reservations from workers who wanted to work from home (WFH) or work remotely from different locations.

Airbnb also anticipates that its business prospects will become brighter, along with the intensive Covid-19 vaccination program in many countries.

Airbnb has conducted an initial public offering (IPO) since 2020. Currently, its market capitalization has exceeded the combined capitalization of large hotel chains such as Marriott International, Hilton Worldwide, and Hyatt Hotels.

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