Technology

Airbnb intends to go public in 2020, as it passes 7m listings worldwide

Christian Fleetwood

Christian Fleetwood

Airbnb has announced its intention to go public during 2020, as the company surpasses seven million listings worldwide.

In a brief statement, Airbnb announced it expects to become a publicly-traded company “during 2020”. This comes after the San Francisco based company recorded record revenue in the second quarter of 2019.

In the second quarter of 2019, Airbnb reported it recognised “substantially” more than US $1 billion in revenue, marking only the second time in its history where revenue has exceeded US $1 billion, but did not reveal whether it was profitable.

Market analysts said they believe Airbnb may receive a warmer welcome from investors than Uber or Lyft, both of whose shares fared poorly after launching and invoked “investor scepticism” over their path to profitability, as reported by Reuters.

“I think it’ll be a whole different reception for Airbnb, assuming that they can show they’re a profitable business without having to lose money on marketing,” Kathleen Smith, principal at Renaissance Capital, told Reuters.

Around six guests every second check-in to an Airbnb listing, according to the rental service.

In a separate report, the company claims hosts have earned more than $80 billion sharing their homes and spaces on Airbnb, as of 15 September 2019.

The rental service reported a milestone, claiming there are now seven million listings in over 100,000 cities around the world. Adding to this, it said host and guest communities have benefited local economies, generating over $100 billion in estimated direct economic impact across 30 countries in 2018 alone, the company said.

As of June 1, 2019, the rental service claims to have collected over $1.6 billion in transient occupancy taxes (TOT) on behalf of its community around the world.

Furthermore, the rental service reported that in the past year, more than 300 cities have welcomed over 100,000 guest arrivals at Airbnb listings.

In 2019, Airbnb reported nearly 1,000 cities around the world have more than 1,000 Airbnb listings. In 2011, only 12 cities had more than 1,000 listings, according to the rental service.

Recently, data from photo-printing service Inkifi revealed which cities globally host the most Airbnb listings.

London has the most Airbnb listings in the world by far, with 59,378 listings at time of publishing, followed by Paris (34,395), New York City (34,187), Shanghai (30,250) and Beijing (26,750).

Sydney and Melbourne ranked ninth and 10th respectively, with 22,604 listings in Sydney and 19,955 in Melbourne.

The city with the lowest concentration of Airbnb listings is Naypyidaw, Myanmar with only five properties, followed by Kuwait City, Kuwait (8), Vaduz, Liechtenstein (11), San Marino, San Marino (17) and Port Louis, Mauritius (17).

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Wholesalers

Wholesaler Wrap: Gate 1’s big discount, A&K’s exclusive South Africa deals + MORE!

Do you consider yourself a bit of bargain hunter? Well, we’ve done all the work for you with this generous wrap of deals from wholesalers and tour operators.

Share

CommentComments

Tourism

Academy Museum goes more than $100m over budget

by Christian Fleetwood

In celebration of the news, Travel Weekly’s reporter has upgraded from his usual beach bum aesthetic and dressed as “The Dude”, with a White Russian in hand.

Share

CommentComments

Cruise

REVEALED: All the winners from this year’s Cruise Industry Awards

by Christian Fleetwood

Unfortunately, no award was given to the delicious pinot noir served on the night nor the ginormous cheese board.

Share

CommentComments

Aviation

Qantas pilots go above union to prevent Project Sunrise take-off

New reports have revealed Qantas’ Project Sunrise plans are being thwarted by a group of rebellious pilots.

Share

CommentComments

Cruise

Holland America cruise passenger diagnosed with coronavirus, as Diamond Princess cases jump to 355

by Ali Coulton

Japanese authorities have confirmed a further 70 cases of coronavirus on Diamond Princess, while a passenger who disembarked from Westerdam has tested positive for the disease.

Share

CommentComments

Destinations

Destination Wrap: Tourism Australia’s conference theme change, New Chile and Vegas campaigns + MORE!

Looking to impress your colleagues with your destination knowledge around the office water cooler this week? Reach expert status instantly with this.

Share

CommentComments

Tourism

Russian tourist killed at popular Sydney beach

The man, who has been identified as a Russian DJ, was walking along the rocks with his wife when a large wave knocked them off their feet and into the water.

Share

CommentComments

Aviation

WATCH: The plane seat punches that sparked a massive online debate

A disgruntled plane passenger has sparked intense online debate after he repeatedly punched the back of a woman’s chair because she reclined her seat.

Share

CommentComments

Destinations

Where to experience Fukushima’s legendary samurai history

by Sponsored by Aizu Dream Development

In Japan, legendary samurai walked the streets, swords at their hips, as recently as 150 years ago. Here is the best place to soak up their incredible stories.

Share

CommentComments

Wholesalers

Helloworld to purchase Excite Holidays’ booking platform, as former staff resurface

by Huntley Mitchell

Look! It’s not one, but two important updates regarding failed wholesaler Excite Holidays, accentuated by a generic iStock image.

Share

CommentComments

Travel Agents

Agent Wrap: AFTA announces roadshow, Silversea’s massive incentive, Visit USA kicks off expos + MORE!

by Mekal Mishra

Incentives and expos and famils, oh my! Get the latest update on all the fab perks your agent mates have enjoyed this week, and get in on a few of them yourself, with this week’s Agent Wrap.

Share

CommentComments

Cruise

The mysterious case of Bill Gates and the $747 million hydrogen-powered superyacht

by Christian Fleetwood

It’s a case that seemingly fooled the press, but did the world’s second-richest man really buy ‘Aqua’? Travel Weekly investigates this not so major mystery.

Share

CommentComments