Airbnb expects lower prices, bookings as inflation hits consumers
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 per cent 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.
Airbnb said to remain competitive, it was equipping hosts with new tools to normalize pricing and starting its marketing campaigns earlier in the year to attract cost-conscious travelers ahead of the peak summer season.
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