We recently reported on Airbnb’s plan, against all odds, to restart its IPO. What will be the outcome when it has come to light that the short-term rental aggregator’s revenue has dropped 67% in Q2 of this year?
Airbnb was hit particularly hard by the pandemic. Many travelers canceled their bookings or cut their trips short to obey quarantine measures. This left many of its listings vacant, angered hosts, and cut revenue by a considerable margin.
Still, the company has restarted plans to go public and the company that comes out of the other end will be something completely different.
The company has announced that bookings are up again as lockdown orders around the world go lax. According to Airbnb, guests have booker over 1 million nights of future stays on July 8th- the highest level of bookings the company has seen since the beginning of March.
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