Wired:

According to AirDNA, an online rental analytics firm, new bookings on Airbnb are down 85 per cent; cancellation rates are close to 90 per cent. Revenue generated by Airbnb’s platform in March was down 25 per cent year-on-year, wiping out $1 billion in bookings. With much of the world still on lockdown, those numbers are unlikely to pick up anytime soon.

According GlobalData, an analytics firm, Airbnb could lose a “significant portion” of its host community as a result of the pandemic.

Data from AirDNA shows that of the 1.1 million Airbnb listings in the US, some 600,000 are from hosts that have at least two other listings. Around 600,000 of those 1.1 million listings are also available for more than six months of the year. Both are key indicators of properties that are more akin to hotel rooms than sharing economy holiday rentals.

A lot of things are going to change once this pandemic is over. Will Airbnb still be around? Contrary to its image of “average homeowners just trying to make a few bucks,” Airbnb has become the largest hotel chain in the world with the majority of its hosts’ professional property owners.