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Airbnb Shares Drop Over 7% Amid Slower Growth Outlook and Travel Demand Concerns

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Airbnb’s shares fell more than 7% on Thursday after the company projected slower growth in the second half of the year, raising concerns about a potential travel demand slowdown. This came as a disappointment to investors who had anticipated a rebound, especially after positive forecasts from major travel firms.

The company cited the impact of tariffs on its third-quarter margins, noting that the tariff shock in April led to a significant drop in bookings. The outlook contrasts with recent optimism in the travel sector, where United Airlines and Hilton Worldwide both predicted rising bookings and strong year-end revenue, and Booking Holdings reported robust quarterly results.

Airbnb said its weaker forecast was partly due to tough comparisons with last year, when a surge in bookings from Asia and Latin America boosted earnings. The platform expects growth in night bookings to slow year-over-year in the fourth quarter, with its implied take rate — revenue relative to gross bookings — likely staying flat in Q3.

So far in 2025, Airbnb and Expedia shares have each slipped 0.6%, while Booking Holdings has gained 11.4%. Valuation-wise, Airbnb trades at a forward price-to-earnings multiple of 28.41, compared to Booking’s 22.69 and Expedia’s 11.57.

New Zealand Triples Tourist Tax, Raising Concerns Among Travel Industry

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New Zealand is set to increase its International Visitor Conservation and Tourism Levy (IVL) from NZ$35 ($22) to NZ$100 ($62) starting October 1, marking a significant rise in the cost of visiting the country. The hike aims to address the additional pressure on infrastructure and conservation efforts caused by international tourism. Tourism Industry Aotearoa (TIA) has expressed concerns that the increase could impact New Zealand’s global competitiveness, potentially driving tourists to destinations like Canada and the UK where entry costs are lower. Alongside the IVL increase, tourist visa fees will also rise from $131 to $211. This move comes as part of a broader trend of tourist taxes implemented by various destinations worldwide to manage the effects of overtourism. Despite some criticism, studies indicate that such fees have not significantly deterred tourists from visiting affected regions.

 

China’s Services Sector Growth Slows in August Amid Rising Costs and Job Cuts, Caixin PMI Reveals

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China’s services sector expansion decelerated in August, as indicated by the Caixin/S&P Global services PMI dropping to 51.6 from July’s 52.1. Despite the ongoing summer travel boom, rising costs prompted some firms to reduce staff, highlighting concerns over the sector’s growth sustainability. The new business index remained in positive territory, buoyed by increased export business in tourism. However, input costs surged while selling prices fell due to heightened competition. The slowdown in services, paired with the challenges in the manufacturing sector, raises concerns about China’s ability to meet its 2024 growth target of around 5%.