The CEO states that Airbnb bookings for extended stays are increasing due to flexible work arrangements.

• According to Chesky, the pandemic has released millions of individuals from the obligation to be present in an office five days a week.
• Because people are shifting away from booking cheaper one- or two-bedroom homes, Airbnb's average daily rate has been increasing.
• Families are increasingly choosing to live in larger homes in more expensive markets such as North America or Europe while traveling.

Due to flexible working arrangements resulting from the pandemic, an increasing number of individuals are opting for extended rental stays, according to CEO Brian Chesky.

According to Chesky, the pandemic has released millions of individuals from the obligation to be present in an office five days a week.

With increased flexibility, the number of individuals residing permanently will decrease.

Airbnb's average daily rate is increasing because people are choosing larger homes in more expensive markets, such as North America or Europe, when traveling with their families, rather than booking cheaper one- or two-bedroom homes.

The average daily rate denotes the typical cost of renting a room or property on a daily basis.

According to a report by Oliver Wyman in April, leisure travel in the U.S. will drive domestic air travel back to pre-Covid levels by early 2022.

The recovery of global air travel demand may take longer due to ongoing travel restrictions.

According to the World Tourism Organization, international tourist arrivals increased by just 4% last year, and Bain & Company predicts that global air travel demand may only reach 84% of 2019 levels by the end of 2022, following the pandemic.

With 2021 being its best year, Airbnb experienced its strongest fourth quarter, according to Chesky.

Before the pandemic, monthly stays were our fastest-growing segment. In the fourth quarter, we saw that 22% of our nights booked were for monthly stays, which is significantly ahead of what it was before the pandemic.

Nearly half of the booked nights are now for stays of a week or longer, which is "completely different" from the traditional travel use case.

As families become more flexible, Chesky predicts that they will go away more often during the summer, resulting in an increase in every length of stay.