Comeback kid Airbnb has its best quarter ever as IRL experiences become a rare commodity

Weekend in the treehouse yurt… Airbnb has doubled down on quirky lodging like tiny homes, desert RVs, and castles. That focus on “experiential” stays appears to be paying off: the rental platform posted its best quarter ever as travel demand stays hot.

• Record revenue and profit: Sales spiked thanks to a record 90M guest arrivals and 100M “nights and experiences” booked. Earnings surged 46% from last year to $1.2B.
• Yet: Airbnb shares have fallen 13% since it reported Tuesday, after it issued slightly lower-than-expected guidance for this holiday quarter.

Zooming in from a Portuguese windmill… If there’s WiFi, how would they know? These latest numbers show that Airbnb continues to be one of the best pandemic comeback stories. Airbnb’s biz was crushed when the pandemic hit, but it quickly embraced the WFH life and revamped its platform to complement changing travel trends. It’s using the new norm of flexible work to its advantage:

• CEO Brian Chesky said that despite return-to-office requirements, 20% of Airbnb’s total nights booked remain long-term stays (think: a month or longer).
• Wow-worthy stays: Last month, Airbnb made a $10M investment to build 100 absurd accommodations, from a floating avocado abode to a giant cheese wedge.