Airbnb Sees Uptick in Business Despite Struggling Travel Industry

Americans are looking to get out of the house as more businesses begin to reopen. Bookings for the popular lodging service Airbnb rose 18 percent in the last 30 days.

Airbnb is welcoming an uptick in business as Americans are booking rooms for post-quarantine vacation rental stays. In a recent television interview, CEO Brian Chesky says customers are staying close to home.

"I think travel is going to shift. It’s going to be smaller. It’s going to be more intimate…more local,” Chesky said.

The shutdown brought travel to a halt starting in March. As a result of the pandemic and stay-at-home orders, Airbnb expects their revenue will be cut in almost half this year. Chesky said he was forced to let go of a quarter of his workforce. In addition, some Airbnb hosts are planning to sell their rental properties. Catherine Banks, co-owner and Vice President of Dallas-based Legacy Travel, believes the industry will eventually recover despite all the challenges.

“Travel is inherent in us as humans and it’s inherent in us as Americans, so I absolutely think travel will come back stronger than ever,” Banks said.

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