The lifting of the travel ban in the United States is “a huge boon to travel”

Airbnb co-founder and CEO Brian Chesky said live bookings on Yahoo Finance were on the rise thanks to the lifting of the ban on international travelers to the country by the Biden administration.

October 15. President Joe Biden announced that the US borders will be reopened to international tourists from November 8. That week we saw a 44% increase in bookings on our platform for people coming. in the United States, “Chesky revealed. .

On Monday, the United States ended a pandemic travel ban for international visitors from 33 countries. The ban lasted 19 months and was first implemented by the Trump administration. International travelers will need to show proof of vaccination and a recent negative test for COVID-19.

Chesky believes lifting the ban will give Airbnb and the travel industry a big boost this holiday season.

“I think it will be a huge boon to travel. That’s my prediction,” Chesky said, adding that people staying longer on the Airbnb platform would also help.

Big hotel chains such as Marriott, Hilton and IHG are currently seeing similar trends, their CEOs told Yahoo Finance Live.

“The day the date of November 8 was announced, we saw an instant increase in bookings. By the way, this week increased by 50% overnight in terms of bookings. It just shows what we have. seen in virtually every segment of our industry, meaning there is a huge pent-up demand to get people back on the road, ”said Mark Hoplamazian, CEO of Hyatt.

As for Airbnb, its activity experienced good momentum before the lifting of the travel ban.

Nights and booked experiences jumped 29% year-over-year to 79.7 million. The gross value of bookings increased 48% from a year ago to $ 11.9 billion. Adjusted operating profits of $ 1.1 billion improved 120% from the third quarter of last year.

Brian Sozzi is an editor and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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