Airbnb said it will spend more than $200 million on unspecified investments this year as it aims to continue the post-pandemic boom. The company reported that revenue has tripled since its release in 2020.
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Airbnb reported that it made $2.5 billion in the fourth quarter and $11.1 billion for all last year, booking 491.5 million nights and experience on the world’s largest short-term rental platform in 2024.
CEO Brian Chesky announced these results Thursday. He foreshadowed a major change this year, saying he was coming to work.
Airbnb continued its post-pandemic boom for the last three months of the year, during the last three months of the year, when gross revenue and evening bookings grew 12% simultaneously the previous year.
Performance concludes an era where Airbnb said it was focused on completing the host experience that offers user experiences to book a place to stay and the rental space. Since its launch in 2020, the company has tripled its revenue and total booking value.
“We successfully outperformed the travel industry’s growth in 2024,” the company said in a letter to investors on Thursday detailing its fourth quarter and 2024 performance.
The company’s figures indicate where travelers are most interested in visiting, but travel demand remained strong.
Airbnb reported that the nights booked in North America grew in single digits in the fourth quarter. On the night booked in Europe, the Middle East and Africa grew in low double digits, the company said.
Travel has risen the most in Latin America and Asia. There, evening bookings on Airbnb grew at a low 20% range, the company said.
The average cost of booking an Airbnb overnight was $158, the company said.
The percentage of people receiving from company take rates or rentals and hosting on the platform was 14.1%.
Expand beyond “where to stay”
Before the pandemic, Airbnb began to provide experiences. Here, users were able to book an activity with their host. Airbnb said that after the onset of the pandemic has effectively shut down travel after effectively halting travel, it focuses primarily on booked night core offerings, not experience. I’ve said that.
Over the next few years, Chesky suggested plans to expand beyond Airbnb’s core after the company added sufficient quality control and guarantees to travelers, and to ensure that the company will deliver sound benefits. It’s proof. At that time, he said that Chesky was here.
The company reports that it has earned $461 million in profits and $2.6 billion in annual profits in the quarter, with $10.6 billion in cash in hand. It said it will focus on steady improvements and investing in growth opportunities in 2025.
“Specifically, we plan to invest between $200 million and $250 million in launching and scaling new businesses that will be implemented later this year,” the company said. “We expect these companies to contribute significantly to revenue growth as they scale over the next few years.”
These unspecified investments will be announced within the first nine months of the year.
“2025 marks the beginning of the next chapter of Airbnb,” Chesky told investors. “This is the year to see the start of a new Airbnb.”
While Chesky continues to do one of his favorite analogies of comparing Airbnb’s future to Amazon’s past, he has more light than he’s had in the past about what that expansion looks like I’ve streamed it.
He pointed out that Amazon started out by selling books. It then expanded to other media like films and eventually became fashion before expanding into everything.
Cesky said the expansion of Airbnb this year is “very closely adjacent to travel.”
“thing [consumers] He wouldn’t even think about it,” he said. “From there, we’re going to continue to expand.”
He said the company will continue to expand far from outside the travel core, and 2025 will be the year when Airbnb continues to dominate the short-term travel market and start pushing the accelerator. suggested.
“We’re not an app that’s used frequently,” Chesky said. “I love people one day to use us once or twice a week. That’s one of the long-term goals.”
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