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Airbnb bookings hit a record high

Airbnb bookings have hit a record high despite the cost of living crisis.

Roughly 140 million nights and experience have been booked through the website between the second financial quarter of 2022, a new high for the service, following the drop of COVID-19 travel restrictions.

Long stays are the quickest growing type of stay increasing on the site, a move believed to be motivated by the solidifying of working from home.

Short term, such as city breaks, have also seen a rise in interest with the firm labelling the period as their biggest summer season and informed shareholders it was well positioned for whatever macro economic problems that might come along.

Bookings in the period increased by 25 per cent from the same time last year, to 103.7 per cent, marking a 24 per cent increase from their 2019 numbers.

Prices going up also added to their overall revenue, which went up 58 per cent from 2021 to $2.1 billion. European bookings are trailing behind due to factors such as the weakened pound.

North American commands the biggest demand with bookings rising 37 per cent from their 2019 levels.

CEO Brian Chesky said during a conference call: "Airbnb was founded during the recession,” prompting people to rent out their properties and spare rooms to make extra cash.

He added: "We think a lot of people may turn to hosting once again, so this is a big opportunity for us".

Recently, the company - who made a record profit of $379 million after their $68 million loss last year - announced they were maintaining their pandemic ban on parties in their rentals. However, they dropped the maximum amount of people being able to stay in one venue.

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