The company reported more reservations from May 17 through June 3 this year than the same time period last year. The increase is a sign that Americans are ready to start traveling again after spending months in quarantine due to the coronavirus - duh! Airbnb has been heavily impacted by COVID-19. Just last month, the company reported layoffs for 25 percent of its workers.
According to CEO Brian Chesky, bookers are making plans within driving distance of their own homes. CNN Business adds, this is due to international travel restrictions that are in place because of COVID-19. Chesky adds that people are staying in Airbnb rentals for longer periods of time. "The reservations are typically for a week or more. Work from home is becoming working from any home." Chesky says other countries have also seen a jump in domestic bookings. He even adds that Airbnb has not ruled out possibly going public later in 2020. The CEO does predict that revenue for 2020 will be half of what 2019 brought in.