Airbnb signals ‘reinvention’ beyond core business

The company says it spent the past three years perfecting its core business, and is now ready to expand beyond its core business and reinvent Airbnb

Though it will unfold gradually over several years, Airbnb anticipates revealing more details about this expansion later in 2024. The company highlights the vast scale of the lodging market, emphasizing that it has merely begun to tap into its potential. With many of these markets remaining significantly untapped, Airbnb sees substantial growth prospects ahead.

Key takeaways

• Revenue for the three months to December rose by 17% year-on-year to $2.2 billion driven by “solid growth” in bookings up 12% to a record 98.8 million – with the annual total up 14% to 448 million in 2023;
• Annual profits almost reached $5 billion, more than double the $1.9 billion figure achieved in 2022 as bookings rose 14% to 448.2 million;
• he number of Airbnb hosts surpassed five million in the final quarter of 2023 with active property listings of more than 7.7 million – up 18% year-on-year.

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