Airbnb saw revenue and demand for its vacation rental business grow in the second quarter, according to a Tuesday (Aug. 2) press release. The company also announced a $2 billion share repurchase program.
There were 103.7 million nights and experiences booked in Q2, a quarterly record and a 24% increase over the same period in 2019. Urban bookings also grew above pre-pandemic levels, and cross-border travel doubled year over year.
Meanwhile, nonurban listings jumped 50% compared to Q2 2019, and overall listings grew 23% from pre-pandemic levels.
Revenue was up 58% year over year to $2.1 billion, 73% above the same period in 2019. It was Airbnb’s most profitable second quarter ever, with net income of $379 million, the release stated.
The company said in the release it was able to get these numbers because of several factors, including an “adaptable” business model, with listing in widely varying locations and a readiness to evolve as travel keeps evolving.
The company also added that it had used the pandemic to become more lean and focused, using more discretion in hiring and investments.
Airbnb has also rolled out a new “historic homes” feature, which will capitalize on a new demand for heritage-related travel, PYMNTS wrote.
It will help guests find older places to stay, as bookings for historical homes in the U.K., France, Germany, Spain and Italy have been up by over 54% in 2021 compared to 2019.
It will let guests find things like converted chapels, castles or other places from the 19th century or before.
Airbnb has also debuted its Heritage Academy in France, Italy and Spain, giving hosts a toolkit and personal host ambassador to train them to work with the homes better.
“The new Historical Homes Category on Airbnb will not only allow travelers from all over the world to discover the richness of European cultural heritage, it also opens up previously overlooked destinations and helps disperse tourism and its economic benefits in a more equitable way,” said Emmanuel Marill, Airbnb regional director, EMEA.