Airbnb said it expects demand for lodging rentals to rebound this year as more people begin travelling again and as remote employees look for alternative work locations.
The San Francisco-based online rental platform forecasts travel to pick up in 2021 as vaccination efforts expand worldwide, Airbnb said on February 25 in the firm’s first earnings report as a public company.
“In 2021, travel will be less about where you go and when you go, and more about who you are with and what you can do together. We will see a shift from mass travel to meaningful travel. And with more people working from home, there will be more flexibility around where and when they travel,” Airbnb said in the report.
The company said it posted a $3.9 billion loss in the fourth quarter on costs associated with stock-based compensation related to its December 2020 initial public offering.