Airbnb CEO refutes recent AirDNA data that suggests high churn

This article has been updated to include commentary from AirDNA

Airbnb Inc (NASDAQ: ABNB) CEO – Brian Chesky this morning on CNBC’s “TechCheck” denied the recent data from AirDNA that rate of churn at his vacation rental company is at its highest in years.

Madeleine Parkin, a PR representative for AirDNA, however, told Invezz that CNBC took the aforementioned data out of context, and said:

Chief Executive says churn is stable

The data analytics firm also said in its report that Airbnb has faced a “net loss in listings” for the first time since the start of the COVID pandemic.

On the contrary, though, Chesky said his Nasdaq-listed firm was actually committed to bringing more hosts to the platform to meet the persistently strong demand.

Offerings like Airbnb Setup and AirCover, he added, are making it all the more enticing for hosts to join Airbnb.

Airbnb is positioning itself for a recession

Earlier this month, the hospitality services company reported a record third quarter on strong travel demand.

According to CEO Brian Chesky, Airbnb Inc is committed to “affordability” to retain that strength even through the impending recession.

Interestingly, the Chief Executive himself has listed one of his home bedrooms on Airbnb for “zero” dollars. Wall Street recommends that you buy Airbnb stock as it has upside to $130 on average – a 30% return from here.