Airbnb, which last week reported a $2 billion profit for last year and also noted a sharp rise in what customers are paying to stay at its short-term rentals—a price rise far greater than that seen by hotel chains.
Airbnb saw significant growth during the pandemic, driven in part by people reluctant to stay with others in hotels and in part by a growth in digital nomads who worked remotely from remote places. Many of these, it seems likely, were looking for more luxurious accommodations than the budget vacationers who were Airbnb’s original core audience.
Airbnb reported that its average rental in 2022 was 36% higher than in 2019. Marriott’s average rates rose over that period by 12.8% and Hilton’s by 7.8%.
Image: One of Airbnb’s more unusual rental offerings
