Airbnb has seen its revenue growth cool lately as fewer people are booking long-term rental stays away from cities with employers urging workers to return to offices, and a strong dollar eating into its overseas earnings
on Tuesday forecast that average rates for its rentals would fall slightly in the current quarter and remain pressured through 2023, as vacationers return to lower-cost urban rentals.
The San Francisco-based company, one of the top pandemic beneficiaries, has seen its revenue growth cool lately as fewer people are booking long-term rental stays away from cities with employers urging workers to return to offices, and a strong dollar eating into its overseas earnings. The company said it expects to keep a tight lid on costs to ensure its 2023 core margins remain stable. It said travel demand continues to be strong in the first quarter despite recessionary fears sparking concerns around consumer spending.
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