Airbnb’s ‘home-based’ move-in rates drop 3% to $846 per month
Airbnb is facing a new round of criticism after it announced a move-ins rate of $845 per month.
The online travel service, which allows people to book a room in a home, said its home-based rates are now at an all-time low.
“We’re very pleased to report a new low of $946 per Month for a single stay,” Airbnb said in a blog post on Tuesday.
Its move- in rate dropped 3.8% to just $819 per month on Tuesday, according to the company’s website.
It was a surprise to some.
Airbnb was widely expected to follow the trend of more and more people moving into their own homes and living with their parents.
But the company has struggled to maintain occupancy rates and revenue, with the company announcing it was taking a $250 million write-down to help it cover its $1.5 billion in losses.
Despite the low occupancy rates, Airbnb says it continues to serve over 25 million people and its new move- ins rate represents an 18% drop from its record high of $1,246 per month in November.
New York City has seen an influx of Airbnb users since it legalized the service, with some predicting it could bring thousands of new people into the city each day.
At a press conference on Tuesday at the company headquarters in San Francisco, Airbnb CEO Brian Chesky said he hoped to see the company expand in the city.
In the United States, the company says it has more than 7 million hosts and 2.7 million properties available for reservations.
To learn more about the new move ins rate, check out this article on ABC News.