Airbnb logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustrationsaid on Tuesday that it expected fewer bookings and lower average daily rates in the second quarter versus a year earlier, sending shares down 11.5% in after-hours trading.
People are most price sensitive in North America, especially in the United States, Airbnb CEO Brian Chesky told investors on a call.The company's gross booking value increased 19% to $20.4 billion in the first quarter from a year earlier, in line with a 19% increase in nights and experiences bookings to 121 million. Average daily rates were flat year-on-year at $168.
"The company is now facing fierce competition from rivals like Booking.com and Expedia's Vrbo so its future looks less certain," he added.