'Airbnb Bookings Dip In Austin, San Francisco Prompting 'Doom Loop' Fears' - New York Post
Portfolio Pulse from Benzinga Newsdesk
Airbnb bookings have declined in cities like Austin and San Francisco, causing concerns over a potential 'doom loop'. Revenues are reportedly down nearly 50% in cities like Phoenix and Austin, according to Reventure Consulting. However, Airbnb and AirDNA dispute these figures, stating that the decline is not as severe. The decline in bookings is attributed to the end of pandemic-era migration and a decrease in the number of people working from home. The San Francisco Standard reported a 29% decrease in nights stayed in vacation rentals in San Francisco in May 2023 compared to May 2019.
July 11, 2023 | 1:42 pm
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Airbnb's bookings and revenues have reportedly declined in key cities, which could negatively impact the company's financial performance. However, Airbnb and AirDNA dispute the severity of the decline.
The reported decline in Airbnb's bookings and revenues in key cities could negatively impact the company's financial performance. However, the severity of the decline is disputed by Airbnb and AirDNA, which could mean that the impact on the company's stock price may not be as severe as initially feared.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100