Airbnb expects revenues to be slashed by more than half this year, CEO says
Because of the COVID-19 crisis, Airbnb is now on track for revenues of less than half what it earned in 2019, CEO Brian Chesky said in a letter to staff.Airbnb reportedly earned more than $4.8 billion last year.
Not only did COVID-19 ground worldwide travel in Q1 of 2020, but it's unclear if and when travel will resume at normal levels, even once shelter-in-place restrictions are lifted, Chesky warned.Airbnb CEO Brian Chesky offered employees some insight into just how bad things look for the company when heWith one quarter of 2020 in the books, and the second quarter in the works, Chesky said Airbnb's revenue is already forecast to be down by more than half over its 2019 performance.
"While these actions were necessary, it became clear that we would have to go further when we faced two hard truths:2. When travel does return, it will look different."
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