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Airbnb Is Making A Huge Rebound

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Another sign that the economy is rebounding is that Airbnb is experiencing an increase in bookings as customers emerge from several months of being cooped up in their homes because of Covid-19.
 
Airbnb said that it had more US bookings between May 17 and June 3, which encompassed Memorial Day on May 25, than the same time period a year earlier. That signals Americans are ready to travel, albeit primarily within the United States.

Airbnb CEO Brian Chesky said he's noticed travelers are preferring to stick to drivable domestic destinations within 200 miles of their homes. The complications of international travel is making it difficult for people to explore outside of their home countries.

Chesky said customers are booking for one week or longer because of the shift to remote working. "Work from home is becoming working from any home," he said.

There has also been a rise in domestic bookings in Portugal, Germany and South Korea.

The rise in bookings is coming after the abrupt shut down of the global travel industry in late winter as Covid-19 spread.

Airbnb, like other travel companies, has had share of bad months. The San Francisco-based company axed a quarter of its workforce in May and refocused its efforts on rentals and experiences. Some hosts are even selling their properties because of the steep decline in bookings.

Travelers are opting to stick to driving in the safe space of their own car rather than flying.

But the airline industry shows just the opposite. American Airlines is bolstering its July schedule following a better-than-expected uptick in demand, particularly to Florida and mountain destinations in the West.

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