Airbnb expects summer to heat up

Airbnb is predicting a bumper summer after the loosening of Covid restrictions across the world. The short-term lettings platform cited robust demand across America and Europe, reporting that business had eclipsed 2019 levels in some markets over Easter. It has projected revenue of between $2.03bn and $2.13bn for the three months to the end of June, ahead of analysts’ forecasts of $1.96bn. It expects the summer months to be even higher. Revenue for Q1 rose by 70% to $1.51bn, while net losses narrowed from $1.2bn to $19m. Domestic travel and long-term stays now account for a fifth of all nights booked, as international business trips remain below 2019 levels. The Times (£) The FT (£)