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Airbnb’s most profitable quarter, EVER!

By November 9, 2022 No Comments

Airbnb just reported its most profitable quarter, ever…

Revenue for the period ending Sept. 30, 2022, was up 29% to $2.9 billion with net income up 46% to $1.2 billion, year-on-year.

Australia and Asia saw the most growth due to the easing of COVID-19 restrictions. According to airdna.co there are over 9,800 active rentals in Sydney, Australia alone. It is clear that this method of revenue generation remains popular among homeowners.

Airbnb co-founder and CEO Brian Chesky says “Airbnb is seeing a growing number of hosts due to a softening economy. Like during the Great Recession, people have turned to Airbnb as a form of supplemental income.”

Long-term stays and non-urban travel are also solid. “We anticipate more long-term and cross-border stays as people travel domestically and abroad for remote and hybrid work,” Chesky says. “I think even more people will work remotely or in a hybrid way, five years from now.”

Urban and cross-border travel comprise the vast majority of the company’s business before the pandemic. Both have shown recovery with cross-border travel increasing 58% from last year, while high-density urban nights booked grew 27% during the same period.

Angela Carrick, founder of Air Design Australia says “It’s clear that Airbnb’s Q3 2022 results demonstrate that short & long-term rental markets continue to drive growth and profitability at scale, even with macroeconomic certainty.”

“The trick is to have a rental property that stands out among the others.” says Carrick “Competitive rates and photos are significant but that’s only scratching the surface when your goal is to capitalise on this up-swing and maximise return”

If you are an Australian homeowner looking to generate significant revenue with your property, take the guesswork out of it and contact Air Design Australia today…

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