Travel demand is still strong despite worries about an economic decline and households facing higher costs, according to American vacation rental company Airbnb. Approximately 104 million nights and experiences were booked on the platform between April and June, an all-time high for the lodging website. Overall, reservations from April through June increased by 24 percent from 2018 and by 25 percent from 2019, totaling 103.7 million. According to the business, reservations for a week or more make up about half of all bookings. North America continues to have the highest demand for travel, with bookings up 37 percent from last year. While travel has rebounded from the pandemic, Europe’s growth is lagging behind it due to factors like the weaker pound.

The business told investors that it was prepared for whatever may hit the economy, noting that it was currently in the midst of its biggest peak summer travel season yet. According to experts, a slowdown can even be beneficial to the business. Chief executive Brian Chesky said, “We think a lot of people may turn to hosting once again, so this is a big opportunity for us.” Demand in the Asia-Pacific region is still below pre-pandemic levels, said Airbnb, which announced in May that it was leaving China, as COVID regulations kept Chinese visitors at home. Although China listings were taken down in July, Airbnb still has more than 6 million active listings. The buyback program, according to executives, was a demonstration of their faith in the company’s future.