Airbnb executives said Tuesday that they expect average prices to come down this year, after their rates increased more than 35% during the COVID-19 pandemic.
Airbnb Inc. executives said Tuesday that they expect average prices to come down this year, after their rates increased more than 35% during the COVID-19 pandemic.
For more: Airbnb hosts say bookings ‘fell off a cliff’ amid influx of new vacation rentals and rising prices The average daily rate, or ADR, actually decreased year-over-year in the fourth quarter, though executives said that was because of the strengthening dollar, and that average daily rates were up across all regions in the quarter after adjusting for foreign-exchange rates. They expect it to decrease in the first quarter from the peak price of the past two years — $168.07 a night in the first quarter of 2022 — and continue to decline moving forward.
Executives said on the call that they don’t expect “a significant decrease” in rates, instead using the term “modest” to describe the reduction in rates.
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