Vacation rental giant Airbnb seems to be weathering the global travel slump pretty well.
It just logged more than one million bookings globally last week for the first time since pandemic restriction started to kick in.
It surpassed the one million milestone on July 8, partly due to pent up travel demand.
Most of the bookings are more affordable and closer to home than usual and are mostly for stays within the next few weeks.
More than half the booking were for stays of no more than 300 miles away from the traveler’s home.
Most bookings were for more rural destinations.
The home sharing platform has suffered like its peers, with weak demand for leisure and business travel.
Airbnb has already slashed its workforce by about 25%.
The company expects 2020 full-year revenue to be at about half of last year’s.
by Ray Montgomery, US editor
