“Airbnb IPO is the perfect market hedge. If you believe the vaccine is coming quickly, people want to travel again. If you don’t believe it’s coming quickly, people want to work remotely in different locations longer.” – Aaron Levie, CEO, Box
The Airbnb IPO signals a vast turnaround for the company from the depths of the pandemic. Nervous vacationers preferred private homes to shared hotel buildings and remote work has given flexibility for people to book more frequent stays during the business week.
In 3Q20, Nights & Experiences booked fell 28% year-over-year to 61.8 million from 85.9 million and gross booking value fell 17% year-over-year to $8.0 billion from $9.7 billion. Although down year over year, these numbers represent a sharp rebound from 2Q20 and compare extremely favorably to traditional hoteliers such as Marriott which experienced a 57% decline in revenues during 3Q20.
The company’s prospectus states:
“In early 2020, as Covid-19 disrupted travel across the world, Airbnb’s business declined significantly. But within two months, our business model started to rebound even with limited international travel, demonstrating its resilience. People wanted to get out of their homes and yearned to travel, but they did not want to go far or to be in crowded hotel lobbies. Domestic travel quickly rebounded on Airbnb around the world as millions of guests took trips closer to home. Stays of longer than a few days started increasing as work-from-home became work-from-any-home on Airbnb. We believe that the lines between travel and living are blurring, and the global pandemic has accelerated the ability to live anywhere.”
Clearly, the flexibility and cost of booking properties where one can work remotely have played a huge role in Airbnb’s relative success this year. Here are some examples of properties that highlight the amenities of an Airbnb property compared to a hotel room for the remote workers amongst us looking for a change of scenery.
The following listings include wifi and designated workspaces along with many other great amenities you won't find at the average hotel.
This four-bedroom home on the border of WeHo offers a great and exciting change of scenery from everyday life. Enjoy high-speed internet, ample workspace, and a short walk to great restaurants and cafes plus Hollywood on your doorstep.
This rental home is available for longer stays (30+ days). Newly renovated with a designated workspace, guests can enjoy an after-work drink on the porch or in the backyard or go all out and visit the wonderful wineries within walking distance of the property.
Airbnbs don't get cuter than this Charleston one.
Bright and colorful, this Airbnb features a traditional Charleston porch, five bedrooms, plenty of spaces to work from or chill in, an outdoor courtyard, and is only a short distance to Kind Street, the Historic District, and iconic City Market.
Looking to escape to the Big Apple or just looking for a change of scenery in the New York area? This Downtown Manhattan condo features plenty of WFH space, an awesome private terrace, a roof deck, and New York City on its doorstep - what are you waiting for?
This mid-century Airbnb is the perfect retreat with a swimming pool, gorgeous patio and lush garden, gourmet kitchen, beautiful surroundings, sunny workspace, and so much more.
Cozy, comfy, and homey are all the words that come to mind with this plant-filled Nashville Airbnb. Work during the day, explore Music City (socially-distanced and safely) at night, or stay in and enjoy the indoor-outdoor flow with a meal and some drinks on the lovely back patio.
Your home away from home, this central Seattle haven awaits!
Enjoy cooking up a storm in the spacious kitchen, curl up by the fire, or block out all distractions in the private office.
We're constantly keeping up with the latest real estate trends and news - let us keep you in the loop!
Does this Belmont home have improvements that significantly increase the comfort and value of the home?
Does this home in Brentwood make for a smart purchase?
Enter your email below to stay up to date with all of our articles, analyses and company news!