Airbnb has unveiled record bookings, as the worldwide travel industry recovers from the pandemic.
The holiday rental firm said it is "in the midst of our strongest peak travel season yet" - and revealed that July 4 was its highest single-day revenue ever.
Nearly 104million nights and experiences were booked on the platform in the April-to-June period - a new high.
The Telegraph reports today that the US company expects to deliver record revenue and profits in its third quarter.
Second-quarter net income hit £311million, compared to losses of £55million in the year-ago period. And revenues rose to £1.8billion from £1.1billion previously.
Airbnb said that its strong performance was driven by spending cuts during the pandemic, which led to 1,900 lay-offs, and its "adaptable" business model.
A rise in host numbers may be driven in part by a global cost-of-living squeeze which has sparked a race by households to supplement their income.
Growth and profitability
Chief executive Brian Chesky said: "The second quarter of 2022 demonstrates we have achieved growth and profitability at scale.
"Our strength this quarter is the result of our ability to stay focused and disciplined while continuing to relentlessly innovate."
During the quarter, the company closed its arm in China because of the "costly and complex challenges of operating in the country", exacerbated by the zero-CV19 policy and continued lockdowns. All listings in the region were taken down in July.
And it also unveiled an alternative to the standard search option in May in the hope of offering a solution to "overtourism", which critics say Airbnb has contributed to.
The homepage now shows a series of destinations suggested to users, but they can still search by destination and date if they wish.
Earlier this week, proposals aimed at limiting the number of Airbnb-style lets in Edinburgh were approved by Scottish ministers.
The city council had asked for permission to establish the country's first short-term let-control area.
This means that, in most cases, planning permission will be needed to change the use of an entire residential home to short-term lets.
It follows concern that such lettings have exacerbated housing shortages and fuelled antisocial behaviour.
FTSE 100
The UK's top share index, the FTSE 100, was down 20 points at 7,388 shortly after opening this morning, following yesterday's four-point loss.
Brent crude futures dipped 0.26% to $100.28 a barrel.
Companies reporting today
- Half-year results: Ferrexpo, Hill & Smith Holding, Hiscox, Morgan Sindall Group, Taylor Wimpey
- Second-quarter results: Endeavour Mining