該公司已經取得了一些長足的進步。
展望未來,Airbnb 對自己的商業模式和抵禦疫情的能力充滿信心。他們相信他們的平台為客人提供了其他地方無法找到的價值,這將繼續推動對其服務的需求。 Airbnb 是一個平台,允許人們在全球 100,000 個地點預訂房間和體驗。儘管今年第二季度有所下降,但該公司的住宿晚數和預訂體驗總體增長強勁。減少的原因是世界各地的航班取消,主要是在北美。為應對 COVID-19 大流行,Airbnb 推出了一款名為“我很靈活”的產品,讓用戶可以靈活選擇旅行日期和目的地。該產品很受歡迎,人們用它去世界各地旅行。 Airbnb 成立於 2008 年,正值金融危機期間。此後,該公司不斷發展壯大,現已實現盈利。它專注於增長,而不是利潤最大化。
該公司在長期住宿方面看到了良好的增長。這部分是由於人們越來越多地在家工作,需要一個可以長時間逗留的地方。該公司還看到新主機數量的良好增長。上個季度 36% 的新主人是以前的客人。
該公司專注於讓託管變得更加容易,並吸引普通人成為託管人。它還在尋找保護主機並使它們更容易託管的方法。這對公司來說是一個巨大的機會,因為該領域有很大的增長潛力。第二季度收入為 21 億美元,比去年同期增長 58%。不包括外匯,收入增長了 64%。代表 Airbnb 平台上所有預訂總價值的總預訂價值 (GBV) 在第二季度為 170 億美元,比 2020 年第二季度增長 27%。不包括外匯,GBV 增長了 34%。
Airbnb在第二季度的強勁財務表現主要有三個原因。首先,公司的商業模式能夠適應出行方式的變化。其次,Airbnb 一直在堅持不懈地創新,推出提高客戶滿意度的新產品功能。最後,該公司在決策過程中一直保持專注和自律,在大流行開始時做出艱難的選擇,並以提高效率和盈利能力的形式獲得了回報。
使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Good afternoon, and thank you for joining Airbnb's earnings conference call for the second quarter of 2022. As a reminder, this conference call is being recorded and will be available for replay from the Investor Relations section of Airbnb's website following this call. I'll now hand the call over to Ellie Mertz, VP of Finance. Please go ahead.
下午好,感謝您參加 Airbnb 2022 年第二季度的收益電話會議。提醒一下,本次電話會議正在錄音中,可在本次電話會議後從 Airbnb 網站的投資者關係部分重播。我現在將電話轉交給財務副總裁 Ellie Mertz。請繼續。
Ellie Mertz - VP of Finance & IR
Ellie Mertz - VP of Finance & IR
Good afternoon, and welcome to Airbnb's Second Quarter of 2022 Earnings Call. Thank you for joining us today. On the call today, we have Airbnb's Co-Founder and CEO, Brian Chesky; and our Chief Financial Officer, Dave Stephenson. Earlier today, we issued a shareholder letter with our financial results and commentary for our second quarter of 2022. These items were posted on the Investor Relations section of Airbnb's website. During the call, we'll make brief opening remarks and then spend the remainder of time on Q&A.
下午好,歡迎參加 Airbnb 2022 年第二季度財報電話會議。感謝您今天加入我們。在今天的電話會議上,我們有 Airbnb 的聯合創始人兼首席執行官 Brian Chesky;和我們的首席財務官戴夫斯蒂芬森。今天早些時候,我們發布了一封股東信,其中包含我們 2022 年第二季度的財務業績和評論。這些項目已發佈在 Airbnb 網站的投資者關係部分。在電話會議期間,我們將做簡短的開場白,然後將剩餘時間用於問答。
Before I turn it over to Brian, I would like to remind everyone that we will be making forward-looking statements on this call that involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described under forward-looking statements in our shareholder letter and in our most recent filings with the Securities and Exchange Commission.
在我把它交給布賴恩之前,我想提醒大家,我們將在這次電話會議上做出涉及許多風險和不確定性的前瞻性陳述。由於多種因素,實際結果可能與前瞻性陳述中明示或暗示的結果存在重大差異。這些因素在我們的股東信函和我們最近提交給證券交易委員會的文件中的前瞻性陳述中有所描述。
We urge you to consider these factors and remind you that we undertake no obligation to update the information contained on this call to reflect subsequent events or circumstances. You should be aware that these statements should be considered estimates only and are not a guarantee of future performance.
我們敦促您考慮這些因素並提醒您,我們不承擔更新此電話中包含的信息以反映後續事件或情況的義務。您應該知道,這些陳述應僅被視為估計值,而不是對未來業績的保證。
Also, during this call, we will discuss some non-GAAP financial measures. We provided reconciliations to the most directly comparable GAAP financial measures in the shareholder letter posted to our Investor Relations website. These non-GAAP measures are not intended to be substitute for our GAAP results.
此外,在本次電話會議中,我們將討論一些非公認會計原則的財務措施。我們在發佈到我們投資者關係網站的股東信中提供了與最直接可比的 GAAP 財務指標的對賬。這些非公認會計原則的措施並不打算替代我們的公認會計原則結果。
And with that, I will pass the call to Brian.
有了這個,我會把電話轉給布賴恩。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
All right. Thank you, Ellie, and good afternoon, everyone. Thanks for joining.
好的。謝謝你,艾莉,大家下午好。感謝您的加入。
Our Q2 results demonstrate that Airbnb has achieved growth and profitability at scale. From a growth perspective, we exceeded 103 million Nights and Experiences Booked. Now this was our largest quarterly number ever. Revenue was $2.1 billion, up 58% from last year or 64%, excluding foreign exchange. Gross booking value was $17 billion, up 27% from last year or 34% if you exclude foreign exchange. Now both revenue and GBV were 73% higher than Q2 2019, significantly outperforming the travel industry.
我們的第二季度業績表明,Airbnb 已經實現了規模化增長和盈利。從增長的角度來看,我們的住宿和體驗預訂量超過了 1.03 億。現在這是我們有史以來最大的季度數字。收入為 21 億美元,比去年增長 58% 或 64%,不包括外匯。總預訂價值為 170 億美元,比去年增長 27%,如果不包括外匯,則增長 34%。現在,收入和 GBV 均比 2019 年第二季度高出 73%,顯著優於旅遊業。
Now from a profitability perspective, we had our most profitable Q2 ever. Net income of $379 million was a nearly $700 million improvement from Q2 2019. Adjusted EBITDA was $711 million. Now this represents a 34% adjusted EBITDA margin, which is significantly up from the 16% margin in Q2 2021, a negative 4% in Q2 2019. Finally, we generated $795 million of free cash flow. Now this is a $1.1 billion improvement from the nearly $300 million cash burn 2 years ago at the depth of the pandemic. Over the last 12 months, Airbnb generated $3 billion in free cash flow, nearly $3 billion, and ended the quarter with nearly $10 billion in cash.
現在從盈利能力的角度來看,我們經歷了有史以來最賺錢的第二季度。淨收入為 3.79 億美元,比 2019 年第二季度增加近 7 億美元。調整後的 EBITDA 為 7.11 億美元。現在這代表調整後的 EBITDA 利潤率為 34%,與 2021 年第二季度的 16% 利潤率相比顯著上升,2019 年第二季度為負 4%。最後,我們產生了 7.95 億美元的自由現金流。現在,這比 2 年前大流行最嚴重的近 3 億美元現金消耗增加了 11 億美元。在過去 12 個月中,Airbnb 產生了 30 億美元的自由現金流,接近 30 億美元,並在本季度結束時擁有近 100 億美元的現金。
So what explains this transformation in our business? Well, first, our business model is adaptable. We have nearly every type of space in nearly every location so however travel changes, we can adapt. And regardless of the economic environment, our guests come to Airbnb because they can find great value and our host can earn extra income.
那麼是什麼解釋了我們業務的這種轉變呢?嗯,首先,我們的商業模式是適應性強的。我們幾乎在每個地方都有幾乎所有類型的空間,所以無論旅行如何變化,我們都可以適應。無論經濟環境如何,我們的客人來到 Airbnb 是因為他們可以找到巨大的價值,我們的房東可以賺取額外的收入。
Second, we've relentlessly innovated while also staying focused and disciplined. When the pandemic began in 2020, we made some incredibly difficult decisions. We significantly reduced spending, making us a leaner and more focused company. And we've kept this discipline ever since, allowing us to keep the hiring and investment plans made in the beginning of the year. And Airbnb is well positioned for whatever lies ahead. In fact, we're so confident in our long-term growth and profitability that today, we're announcing a $2 billion share repurchase program. And this is coming only 1.5 years after our IPO.
其次,我們堅持不懈地創新,同時保持專注和自律。 2020 年大流行開始時,我們做出了一些極其艱難的決定。我們顯著減少了支出,使我們成為一家更精簡、更專注的公司。從那時起,我們就一直保持這種紀律,使我們能夠保持年初制定的招聘和投資計劃。 Airbnb 為未來的一切做好了準備。事實上,我們對我們的長期增長和盈利能力充滿信心,以至於今天我們宣布了一項 20 億美元的股票回購計劃。這距離我們的首次公開募股僅 1.5 年。
Now returning to our Q2 results. Our strong financial performance was driven by a number of positive business trends. First, guest demand in Airbnb is as high as ever. In Q2, we surpassed 103 million Nights and Experiences Booked, marking our highest quarterly number ever. Now despite broader macroeconomic concerns, we still saw a 25% increase in Nights and Experiences Booked compared to the quarter of 2021.
現在回到我們的第二季度結果。我們強勁的財務業績是由許多積極的業務趨勢推動的。首先,Airbnb 的客人需求與以往一樣高。在第二季度,我們預訂的房晚和體驗超過了 1.03 億,這是我們有史以來最高的季度數字。現在,儘管存在更廣泛的宏觀經濟擔憂,但與 2021 年季度相比,我們仍然看到預訂的房晚和體驗增加了 25%。
Now early in Q2, strong guest demand exceeded our expectations. This is because guests in Europe and North America booked earlier than they have historically. Now given this earlier booking, growth rates compared to last year decelerated in May and June. And since the end of Q2, what we've seen is growth in nights booked reaccelerate from June to July as we enter peak travel season.
現在在第二季度初,強勁的客人需求超出了我們的預期。這是因為歐洲和北美的客人比以往更早預訂。現在考慮到較早的預訂,與去年相比,5 月和 6 月的增長率有所放緩。自第二季度末以來,我們看到,隨著我們進入旅遊旺季,從 6 月到 7 月,預訂夜數的增長再次加速。
Second, guests continue to return to cities and cross borders. In previous quarters, we've talked about how we saw significant growth driven by surges in domestic travel as well as travel to rural destinations. Now these trends continue. But we're also seeing guests returning to cities and crossing borders above pre-pandemic levels.
二是賓客不斷返城、跨界。在之前的幾個季度中,我們已經談到了我們如何看到國內旅行和農村目的地旅行激增所推動的顯著增長。現在這些趨勢仍在繼續。但我們也看到客人返回城市並跨越大流行前水平的邊界。
Third, guests continue to stay longer in Airbnb. They're not just traveling Airbnb, they're now living on Airbnb. We saw long-term stays of 28 days or more remain our fastest-growing category by trip nights compared to 2019. The long-term stays has increased nearly 25% from a year ago. And actually, long-term stays have increased almost 90% since Q2 2019.
第三,客人繼續在 Airbnb 逗留更長時間。他們不只是在 Airbnb 上旅行,他們現在住在 Airbnb 上。與 2019 年相比,我們看到 28 天或更長時間的長期住宿仍然是我們旅行夜數增長最快的類別。長期住宿比一年前增加了近 25%。實際上,自 2019 年第二季度以來,長期住宿增加了近 90%。
Fourth, guest demand is driving growth on our host community. We continue to see the strongest supply increases in areas of greatest demand, with nonurban active listings up 50% compared to Q2 2019. But as demand is returning to cities, we're also seeing an increase in total urban supply. And we believe the upgrades we introduced last year, including our new host onboarding flow and AirCover are supporting this growth, but we're not stopping there. So you're going to see some exciting new product features to recruit the next generation of host later this year.
第四,客人的需求正在推動我們的接待社區的增長。我們繼續看到需求最大的地區供應增長最為強勁,與 2019 年第二季度相比,非城市活躍掛牌量增加了 50%。但隨著需求回歸城市,我們也看到城市總供應量增加。我們相信我們去年推出的升級,包括我們新的主機入職流程和 AirCover 正在支持這種增長,但我們並沒有止步於此。因此,您將在今年晚些時候看到一些令人興奮的新產品功能來招募下一代主機。
Finally, I'd like to share a few highlights from the 2022 summer release. In May, we introduced Airbnb Categories. Since launch, listings in the Airbnb Categories have been viewed more than 180 million times. Through Categories, we are distributing guest discovery across more destinations and dates.
最後,我想分享 2022 年夏季版本的一些亮點。 5 月,我們推出了 Airbnb 類別。自推出以來,Airbnb 類別中的房源已被瀏覽超過 1.8 億次。通過類別,我們將客人發現分佈在更多目的地和日期。
Now we also introduced AirCover for guests. Since launch, the Net Promoter Score for guests that had an issue with their stay has already improved. And the real insulin -- instance where our host cancels, AirCover has led to 10% more rebookings.
現在我們還為客人介紹了AirCover。自推出以來,對入住有問題的客人的淨推薦值已經有所提高。而真正的胰島素——我們的主人取消的實例,AirCover 導致了 10% 的重新預訂。
So to recap. We achieved significant milestones this quarter with our results. Nights and Experiences Booked were our highest ever. Revenue and adjusted EBITDA were records for Q2, and free cash flow was $795 million. In the last 12 months, we generated nearly $3 billion in free cash flow.
所以回顧一下。本季度我們的業績取得了重要的里程碑。預訂的夜晚和體驗是我們有史以來最高的。收入和調整後的 EBITDA 是第二季度的記錄,自由現金流為 7.95 億美元。在過去的 12 個月中,我們產生了近 30 億美元的自由現金流。
Now before I go to questions, I want to talk about an update on my co-founder, Joe Gebbia. Last month, Joe announced that he'll be stepping back from this full-time operating role. Joe will continue to serve on the Board of Directors of both Airbnb and Airbnb.org. Airbnb is a founder-led company. So he's going to continue to take a role at Airbnb, and this will be as an adviser to me on future concepts and creative culture.
現在,在我提出問題之前,我想談談我的聯合創始人 Joe Gebbia 的最新情況。上個月,喬宣布他將退出這個全職運營角色。 Joe 將繼續在 Airbnb 和 Airbnb.org 的董事會任職。 Airbnb 是一家創始人主導的公司。所以他將繼續在 Airbnb 擔任一個角色,這將作為我未來概念和創意文化的顧問。
Since the beginning, Joe has always been focused on big ideas to help others. These are uncompromising True North. So it will be fun to be able to spend more time with them on dreaming up new ideas, just like the early days. And as I reflect back on the last 14 years together, I just can't believe how lucky Joe, Nate and I have been. If anything, I've just gone a few degrees in a different direction, I wouldn't be doing this call with you right now. That's how fragile ideas are. And it's what gives me gratitude to know Joe and Nate. And what I'm most thankful for is that we're still together, still meeting every Sunday 14 years after we started. We built a dream together, and now, after all these years, we still continue to dream. So thank you, Joe.
從一開始,喬就一直專注於幫助他人的大創意。這些是不妥協的真北。因此,能夠花更多時間與他們一起構思新想法會很有趣,就像早期一樣。當我回顧過去的 14 年時,我簡直不敢相信喬、內特和我是多麼幸運。如果有的話,我只是朝不同的方向走了幾度,我現在不會和你打這個電話。想法就是這麼脆弱。這就是讓我感謝認識喬和內特的原因。我最感謝的是我們仍然在一起,在我們開始 14 年後的每個星期天仍然會面。我們一起建立了一個夢想,而現在,這麼多年過去了,我們仍然繼續夢想。所以謝謝你,喬。
And with that, Dave and I look forward to answer your questions.
有了這個,戴夫和我期待著回答你的問題。
Operator
Operator
(Operator Instructions) Our first question is from Lloyd Walmsley with UBS.
(操作員說明)我們的第一個問題來自 UBS 的 Lloyd Walmsley。
Lloyd Wharton Walmsley - Analyst
Lloyd Wharton Walmsley - Analyst
Two questions, if I can. First, just it looks like room Nights and Experiences Booked grew a little bit sequentially less in 2Q this year than it did in '19. And similarly, the guidance looks like it's calling for a little bit slower sequential growth. Just wondering if there's anything you'd call out that's behind that?
兩個問題,如果可以的話。首先,與 19 年相比,今年第 2 季度的客房住宿和體驗預訂量的環比增長略少。同樣,該指南似乎要求將連續增長放慢一點。只是想知道在這背後是否有什麼你會說的?
And then secondly, can you give us an update on what you're seeing around just how people are using the platform post some of the new search and discovery innovations this summer? Are you seeing demand move into a wider dispersion of areas or any changes in conversion rates? What are early learnings from some of those innovations this past summer?
其次,您能否向我們介紹一下您所看到的關於人們如何使用該平台的最新情況,並在今年夏天發布了一些新的搜索和發現創新?您是否看到需求轉移到更廣泛的區域或轉換率的任何變化?去年夏天從這些創新中學到了什麼?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Thank you very much. Dave, why don't you take the first question about Q2, Q3 growth, and I can talk a little bit about how the launch from Airbnb Categories have affected how people use Airbnb?
非常感謝。戴夫,你為什麼不回答關於第二季度、第三季度增長的第一個問題,我可以談談 Airbnb 類別的推出如何影響人們使用 Airbnb 的方式?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. So our Q2 gross nights before the cancellations, they came in actually above our internal expectations. We did see some elevated cancellations in the back of the quarter relative to our forecast. We believe that some of the elevated cancellation's related to flight cancellations around the world, but it was mostly in North America towards the end of Q2 '22. And we're just seeing strong overall nights kind of growth, the 25% year-over-year growth in nights and experiences, we feel very confident in. And the same -- having the same results for Q3, we also feel quite good about. We're just seeing strong demand for guest travel all around the world.
是的。因此,我們在取消之前的第二季度總夜晚數實際上超出了我們的內部預期。相對於我們的預測,我們確實看到本季度末的取消訂單有所增加。我們認為,部分取消的增加與世界各地的航班取消有關,但主要發生在 22 年第二季度末的北美。而且我們只是看到了強勁的整體夜間增長,夜間和體驗同比增長 25%,我們對此充滿信心。同樣——第三季度的結果相同,我們也感覺很好關於。我們剛剛看到世界各地對客人旅行的強烈需求。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
And just to answer the second question, just to give a little bit of background, for decades, travel search has worked the same way. There's a box, a search box, and you are asked to enter a location. And the problem with that is that Airbnb is in 100,000 locations all over the world. And so people can't think to type in 100,000 destinations into a search box. And so people miss millions of unique Airbnbs they would have never known to search for. And the reason this is important, as you asked is because we think that category categories can allow us to point demand to where we have supply. This, I think, is one of the really big opportunities.
只是為了回答第二個問題,只是為了提供一點背景,幾十年來,旅遊搜索一直以同樣的方式工作。有一個框,一個搜索框,你被要求輸入一個位置。問題在於,Airbnb 遍布全球 100,000 個地點。因此人們無法在搜索框中輸入 100,000 個目的地。因此,人們會錯過數以百萬計的獨特Airbnb,他們永遠不會知道要搜索。正如您所問的,這很重要的原因是因為我們認為類別類別可以讓我們將需求指向我們有供應的地方。我認為,這是真正巨大的機會之一。
So as I said, since release, listings in every categories have been viewed over 180 million times. We've also seen that guests are now showing more flexibility with their dates and their destinations than before. So for example, a typical search, properties are 30 miles further apart than they would have been before. So we are seeing search radiuses increase. And additionally, we are seeing more people continue to use the flexible date feature. So we believe our theory is working. Airbnb categories allows us to highlight what makes us unique. It allows us to point demand where we have supply. And I also think it helps us be in the inspiration business where people to start to travel on Airbnb.
正如我所說,自發布以來,每個類別的列表已被查看超過 1.8 億次。我們還發現,客人現在在日期和目的地方面表現出比以前更大的靈活性。因此,例如,在典型的搜索中,房產之間的距離比以前要遠 30 英里。所以我們看到搜索半徑增加了。此外,我們看到越來越多的人繼續使用靈活的日期功能。所以我們相信我們的理論是有效的。 Airbnb 類別讓我們能夠突出我們的獨特之處。它使我們能夠在有供應的地方指出需求。而且我還認為這有助於我們開展靈感業務,讓人們開始在 Airbnb 上旅行。
Operator
Operator
Our next question is from Mario Lu with Barclays.
我們的下一個問題來自巴克萊銀行的 Mario Lu。
X. Lu - Research Analyst
X. Lu - Research Analyst
So the first one is on new initiatives. So we look at the third quarter guidance, it seems like bookings is expected to contract by more than 10 points in 3Q versus 2019 versus the second quarter. So does that change the timing or focus on these other new initiatives such as experiences? Or are more resources now being focused back on the core business?
所以第一個是關於新舉措。因此,我們查看第三季度的指引,與 2019 年第二季度相比,第三季度的預訂量預計將收縮 10 個以上。那麼這是否會改變時機或專注於這些其他新舉措,例如體驗?還是現在更多的資源重新集中在核心業務上?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
No. I mean we have a very consistent strategy. And our strategy is, number one, we want to unlock the next generation of hosts. We have 4 million hosts on Airbnb, and I think that millions more can turn to hosting, especially during these economic times. So that, I think, is really priority #1.
不,我的意思是我們有一個非常一致的策略。我們的策略是,第一,我們想要解鎖下一代主機。我們在 Airbnb 上有 400 萬房東,我認為還有數百萬人可以轉向房東,尤其是在當前經濟時期。所以,我認為,這是真正的優先事項#1。
As we add more hosts, we continue to grow. We want Airbnb to be the ultimate host to our guests and host. That's why we offered AirCover where we continue to provide better service all over the world and continue to up level. And guests aren't just traveling Airbnb, they're now living on Airbnb. And so we want to continue to offer more opportunities for them to travel and live on Airbnb.
隨著我們添加更多主機,我們將繼續增長。我們希望 Airbnb 成為我們的客人和房東的終極房東。這就是我們提供 AirCover 的原因,我們將繼續在全球範圍內提供更好的服務並繼續提升水平。客人不只是在 Airbnb 上旅行,他們現在住在 Airbnb 上。因此,我們希望繼續為他們提供更多在 Airbnb 上旅行和生活的機會。
So we are still focused on our core business. That is the priority for us. We are also continuing to invest in long-term stays and other initiatives and most importantly, providing an incredible service that people love. And I would also just say, again, we're feeling really, really solid and good about Q3. Dave, anything you want to add.
所以我們仍然專注於我們的核心業務。這是我們的首要任務。我們還將繼續投資於長期住宿和其他舉措,最重要的是,提供人們喜愛的令人難以置信的服務。而且我還想說,我們對第三季度的感覺非常非常好。戴夫,您想添加的任何內容。
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. I'll just double click on Brian's comment. Yes, I mean, we do really feel good about stable bookings in Q3. I mean, in particular, given we have long lead times that we're seeing. We're seeing some pull forward for summer travel here in Q2 and just the broader economic conditions overall. We are -- if you look at our gross booking value growth versus 2019, Q1 was 73%; Q2, 73%. We're just seeing strong gross booking value growth relative to 2019. And to see further kind of quarter-over-quarter acceleration, we just need to see continued recovery in Europe and APAC, which remains significantly depressed.
是的。我將雙擊布賴恩的評論。是的,我的意思是,我們對第三季度的穩定預訂感覺非常好。我的意思是,特別是考慮到我們看到的交貨時間很長。我們看到第二季度這裡的夏季旅行出現了一些進展,整體經濟狀況也有所改善。我們是——如果你看一下我們的總預訂價值與 2019 年相比的增長,第一季度是 73%;第二季度,73%。相對於 2019 年,我們剛剛看到了強勁的總預訂價值增長。為了看到進一步的季度環比加速,我們只需要看到歐洲和亞太地區的持續復甦,這仍然嚴重低迷。
X. Lu - Research Analyst
X. Lu - Research Analyst
Great. And just a follow-up, speaking of APAC. You guys mentioned that the domestic business is trending down in China, which I believe you guys said was around 1% of your business. Is there any other color you can provide in terms of the P&L impact from shutting that down? And any color on how large the outbound bookings for China is?
偉大的。只是跟進,談到亞太地區。你們提到國內業務在中國呈下降趨勢,我相信你們說的佔你們業務的1%左右。就關閉它對損益的影響而言,您可以提供任何其他顏色嗎?中國出境預訂量有多大?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave?
戴夫?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. I mean the China business has been a small part of business overall. I mean, it's had less than a 1% impact on our revenue. One of the things that has been important in us getting out of the domestic business in China is maintaining a focus on what we think is the most valuable and important part of China, which is the outbound business. So really, what we've done is we've shifted all of the resources that we're applying and splitting between both domestic and outbound travel. We focused all that on outbound, which we think is the greater prize and the most important part for the long term.
是的。我的意思是中國業務一直只是整體業務的一小部分。我的意思是,它對我們的收入的影響不到 1%。讓我們擺脫中國國內業務的重要一件事是保持專注於我們認為中國最有價值和最重要的部分,即出境業務。所以真的,我們所做的是我們已經轉移了我們正在應用的所有資源,並在國內和出境旅行之間進行分配。我們將所有這些都集中在出境上,我們認為這是更大的獎勵,也是長期最重要的部分。
So until China has their COVID policy kind of in place and allowing people to kind of travel outbound from China, it will kind of remain to be depressed. But as that evolves and Chinese travelers travel again, we think that will be a nice unlock for our Asia Pacific business. It's not going to have a material impact on our P&L.
因此,在中國製定其 COVID 政策並允許人們從中國出境旅行之前,它仍然會感到沮喪。但隨著這種情況的發展和中國遊客再次旅行,我們認為這對我們的亞太業務來說將是一個很好的解鎖。它不會對我們的損益產生重大影響。
Operator
Operator
Our next question is from Bernie McTernan with Needham & Company.
我們的下一個問題來自Needham & Company 的Bernie McTernan。
Bernard Jerome McTernan - Senior Research Analyst
Bernard Jerome McTernan - Senior Research Analyst
Great. ADRs are hanging in there better than feared, I believe, still expecting them to be up year-over-year. Can you just talk to some of the puts and takes, demand-driven pricing versus mix shift?
偉大的。我相信,美國存託憑證的表現比人們擔心的要好,仍然預計它們會同比上漲。你能談談一些看跌期權,需求驅動的定價與混合轉變嗎?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave?
戴夫?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. If you kind of rewind to what we've seen with ADRs back at the beginning of the pandemic, all of the increase was driven by mix, right? This initial resurgence of the travel for North America, whole home, nonurban. And then over time, we've seen mix become less and less a part of the increase in the ADR.
是的。如果你回顧一下我們在大流行開始時看到的 ADR,所有的增長都是由混合驅動的,對吧?北美旅行的最初復甦,整個家庭,非城市。然後隨著時間的推移,我們看到混合在 ADR 增長中的作用越來越小。
Here in both Q1 and Q2, what we've seen is that ADRs were up 40% year over -- 3 years back to 2019. And about 2/3 of that increase has been price appreciation, and about 1/3 due to mix. And so we do anticipate that over time, as more people return to travel to urban, more cross border, ADRs may moderate. But yes, as you see, 2/3 of that has actually been price appreciation. So it's been stickier than we anticipated, maybe 6 months ago.
在第一季度和第二季度,我們看到美國存託憑證同比增長 40%——自 2019 年以來的 3 年。其中大約 2/3 的增長是價格上漲,大約 1/3 是由於混合.因此,我們確實預計,隨著時間的推移,隨著更多人返回城市、更多跨境旅行,ADR 可能會有所緩和。但是,是的,如您所見,其中 2/3 實際上是價格上漲。所以它比我們預期的要粘,可能是 6 個月前。
Bernard Jerome McTernan - Senior Research Analyst
Bernard Jerome McTernan - Senior Research Analyst
Got it. And then the dip in May and June from the earlier booking windows and then reacceleration in July, is that reacceleration for near-term bookings in terms of late summer? Or is that kind of early bookings for the fall and winter period?
知道了。然後從較早的預訂窗口在 5 月和 6 月下降,然後在 7 月重新加速,這是否是夏末短期預訂的重新加速?還是秋冬季節的那種提前預定?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Well, it's a bit of both. I mean, really, we have on the books for Q4 of this year, we have more nights on the books in Q4 than relative to the same kind of period a year ago. It's very strong. We're seeing really strong demand in the back half of the year. So we're seeing a bit of both.
好吧,兩者兼而有之。我的意思是,真的,我們在今年第四季度的賬簿上,我們在第四季度的賬簿上的夜晚比一年前的同期要多。它非常強大。我們看到今年下半年的需求非常強勁。所以我們兩者都有。
Operator
Operator
Our next question is from Justin Patterson with KeyBanc Capital Markets.
我們的下一個問題來自 KeyBanc Capital Markets 的 Justin Patterson。
Justin Tyler Patterson - Director of Internet and Media Equity Research & Lead Senior Analyst
Justin Tyler Patterson - Director of Internet and Media Equity Research & Lead Senior Analyst
Great. Two, if I can. Brian, when you look at host right now and just the friction to onboarding, what are you looking to really solve with this upcoming release? And then secondly, perhaps for both you and Dave, you've clearly shown a lot of margin progress, free cash flow progress over the next few years. How should we think about just the puts and takes between overall growth and showing more margin, more free cash flow generation ahead?
偉大的。二,如果可以的話。布賴恩,當您現在查看主機以及入職時的摩擦時,您希望在即將發布的版本中真正解決什麼問題?其次,也許對你和戴夫來說,你已經清楚地展示了未來幾年的利潤率進步和自由現金流的進步。我們應該如何考慮整體增長與未來顯示更多利潤和更多自由現金流之間的看跌期權?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
And just to confirm, you're talking about with this upcoming release, right, this winter?
只是為了確認一下,你說的是這個即將發布的版本,對吧,今年冬天?
Justin Tyler Patterson - Director of Internet and Media Equity Research & Lead Senior Analyst
Justin Tyler Patterson - Director of Internet and Media Equity Research & Lead Senior Analyst
Yes. Well, I mean it can be a little broader in there. Just where the friction point on onboarding is.
是的。好吧,我的意思是它可以在那裡更廣泛一些。正是入職時的摩擦點所在。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes. So that's a great question. Let me -- why don't I answer the first question, and then, Dave, you can talk about margin improvement, and then I can potentially elaborate on that answer as well. We have -- as we said, we have 4 million hosts on Airbnb, but we think there are millions more people that could turn to hosting. I mean, honestly, hosting is one of the easiest ways to be able to make money with an asset that you already have. For most people, they don't need to have a start-up cost and the majority of people get a booking within the first week.
是的。所以這是一個很好的問題。讓我——我為什麼不回答第一個問題,然後,戴夫,你可以談談利潤率的提高,然後我也可以詳細說明這個答案。我們有——正如我們所說,我們在 Airbnb 上有 400 萬房東,但我們認為還有數百萬人可以轉向房東。我的意思是,老實說,託管是利用您已經擁有的資產賺錢的最簡單方法之一。對於大多數人來說,他們不需要啟動成本,並且大多數人會在第一周內獲得預訂。
And so there are a number of things that we're going to be doing this fall -- this winter and beyond, but one of the most important things we want to do is continue to make it easier to host. And one of the high -- things I want to highlight that we launched last year was Ask a Super Host. Ask A Super Host pairs our very best super hosts with prospective hosts. And this is really cool because, basically, what it does is it allows our community to help train new community members, new hosts to come on the platform. That's made a big difference.
因此,今年秋天我們將要做很多事情——今年冬天及以後,但我們想做的最重要的事情之一是繼續讓託管變得更容易。我想強調我們去年推出的最重要的事情之一是詢問超級主持人。 Ask A Super Host 將我們最好的超級房東與潛在房東配對。這真的很酷,因為基本上,它的作用是讓我們的社區幫助培訓新的社區成員,新的主機進入平台。這有很大的不同。
And we're going to continue to double down on that product. We're going to -- but we're looking at some other opportunities to continue to reduce friction. So you're going to see some really cool products to just continue to make it even easier to host. And so that's probably the primary thing that we're going to be focused on this fall. We're also looking at some additional protections for hosts, and just ways to really try to get everyday people with their primary homes that want to host occasionally to host on Airbnb.
我們將繼續在該產品上加倍投入。我們將——但我們正在尋找其他一些機會來繼續減少摩擦。因此,您將看到一些非常酷的產品,繼續讓託管變得更加容易。所以這可能是我們今年秋天要關注的主要事情。我們還在為房東尋找一些額外的保護措施,以及真正嘗試讓那些想要偶爾在愛彼迎租房的普通人擁有他們的主要住所的方法。
A lot of people don't realize that the number -- the top professions for a host in the United States, for example, are school teachers, they're health care workers, they're students, these are top 3 kind of professions and locations in Airbnb. And so what we really think the big opportunity is to continue to attract regular people to become host. And we think one of the biggest sources of new hosts are prior guests on Airbnb, 36% of new hosts last quarter were prior guests.
很多人沒有意識到這個數字——例如,在美國,房東最喜歡的職業是學校老師,他們是醫療保健工作者,他們是學生,這是前三種職業和 Airbnb 中的位置。所以我們真正認為最大的機會是繼續吸引普通人成為主持人。我們認為新房東的最大來源之一是 Airbnb 的老房客,上個季度 36% 的新房客是老房客。
So this is where we're going to be focused on. It's a really big opportunity for us. And I think, again, Airbnb was founded during a recession in 2008, financial crisis. People were worried about being able to pay their bills, pay for their homes and their income. And so they turned to hosting. And we think a lot of people may turn to hosting once again. So this is a big opportunity for us. Dave, if you want to talk about the margin improvement?
所以這就是我們要關注的地方。這對我們來說是一個非常大的機會。而且我認為,Airbnb 是在 2008 年的經濟衰退期間成立的,金融危機。人們擔心能否支付賬單、支付房屋和收入。所以他們轉向託管。我們認為很多人可能會再次轉向託管。所以這對我們來說是一個很大的機會。戴夫,如果你想談談利潤率的提高?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. Thanks. We're really proud of the progress we made to reduce our fixed costs and make improvements in our variable costs. We've really exercised discipline on our spending here in 2022, and we're going to continue to do so. But while we're thrilled with this margin expansion, we're heavily in growth mode. We are not in profit maximization mode. We really want to balance profitability with growth.
是的。謝謝。我們為降低固定成本和改進可變成本所取得的進展感到非常自豪。我們確實在 2022 年對我們的支出進行了嚴格控制,並且我們將繼續這樣做。但是,雖然我們對這種利潤率擴張感到興奮,但我們正處於增長模式。我們沒有處於利潤最大化模式。我們真的希望在盈利能力與增長之間取得平衡。
We -- one of the things we're very proud in Q2 is that we are showing both growth and profitability at scale. But we'll continue to invest in growth. We're going to prioritize things. We'll grow the business over the long haul.
我們 - 我們在第二季度感到非常自豪的一件事是我們正在大規模展示增長和盈利能力。但我們將繼續投資於增長。我們將優先處理事情。我們將長期發展業務。
Operator
Operator
Our next question is from Doug Anmuth with JPMorgan.
我們的下一個問題來自摩根大通的 Doug Anmuth。
Douglas Till Anmuth - MD
Douglas Till Anmuth - MD
Just hoping you can talk a little bit about just kind of macro environment, just what you're seeing in terms of consumer activity or types of trips being booked. And also just to get your view on long-term stays. I think you talked about 25% growth year-over-year, but just the trends there going forward.
只是希望你能談談宏觀環境,你所看到的消費者活動或預訂的旅行類型。也只是為了了解您對長期住宿的看法。我認為您談到了 25% 的同比增長,但只是未來的趨勢。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave?
戴夫?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Sure. Well, if you start the macro environment, again, we are very pleased with our results despite any kind of macroeconomic. We're seeing strong demand here in Q3. And as I said, the Q2 nights and experiences grew 25% year-over-year, we're seeing a similar growth for Q3, and our demand in Q4 reservations is really strong, as I mentioned kind of earlier.
當然。好吧,如果你再次開始宏觀環境,儘管有任何宏觀經濟,我們對我們的結果感到非常滿意。我們在第三季度看到了強勁的需求。正如我所說,第二季度的住宿和體驗同比增長 25%,我們看到第三季度的增長相似,我們對第四季度的預訂需求非常強勁,正如我之前提到的那樣。
What we've seen so far is North America and Europe have been our strengths. We're seeing -- but we are seeing an uptick in more cross-border and more urban. So those are historic strength areas for us, and we're starting to see those parts of the businesses come back. But ultimately, if you just kind of step back, you just see the resilience of our business overall, right, that because we have so much different kinds of supply in so many places around the world, we have any kind of place for anyone that wants to travel. And there's just so much pent-up demand for travel and just so much demand for travel in general, that people would like to spend money on the experience of travel and getting out of their home more than on things that we're just continuing to see that great strength in our business.
到目前為止,我們所看到的是北美和歐洲一直是我們的強項。我們看到了——但我們看到了更多跨境和城市化的增長。因此,這些對我們來說是歷史性的優勢領域,我們開始看到這些業務的一部分捲土重來。但最終,如果你退後一步,你就會看到我們整體業務的彈性,對,因為我們在世界各地有很多不同種類的供應,我們有任何地方適合任何人想去旅行。對旅行的壓抑需求如此之多,總體上對旅行的需求也如此之多,以至於人們更願意把錢花在旅行體驗和走出家門上,而不是我們正在繼續做的事情上看到我們業務中的強大力量。
And then in terms of long-term stays, it continues to be the fastest-growing business by tripling. So if you look at nights of 28 days or longer, that part of the business is growing faster since 2019 than any other segment stays. And actually, if you kind of subsegment it, nearly 50% of our nights are 7 days or longer. And which I think, again, you start to stay any place 7 days or more, an Airbnb is the best way to kind of experience that stay. So long-term stay trend continues to be very solid, growing faster than any other part of the business.
然後就長期停留而言,它仍然是增長最快的業務,增長了兩倍。因此,如果您查看 28 天或更長時間的夜晚,那麼自 2019 年以來,這部分業務的增長速度比任何其他細分市場都要快。實際上,如果你細分一下,我們將近 50% 的夜晚是 7 天或更長時間。我認為,再次,您開始在任何地方停留 7 天或更長時間,Airbnb 是獲得這種住宿體驗的最佳方式。因此,長期住宿趨勢繼續非常穩固,增長速度超過業務的任何其他部分。
Operator
Operator
The next question is from Nick Jones with JMP Securities.
下一個問題來自 JMP Securities 的 Nick Jones。
Nicholas Freeman Jones - Director & Equity Research Analyst
Nicholas Freeman Jones - Director & Equity Research Analyst
Two. I guess, first, can you just kind of give us an update on the I'm Flexible option and how that's kind of playing out and what kind of experiences you're able to provide in those markets that maybe are less dense? And then a follow-up.
二。我想,首先,您能否向我們介紹一下“我很靈活”選項的最新情況,以及它是如何發揮作用的,以及您能夠在那些可能不太密集的市場中提供什麼樣的體驗?然後是後續行動。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes, yes. So Nick, I'm Flexible, essentially with the product that we launched last year, it really has 2 components. There's flexible dates that allows people to say, I'm flexible when to travel, and we can say, I'm really interested in traveling anywhere for a week and a week or a month anytime in the next year. And we also had I'm Flexible destinations.
是的是的。所以尼克,我很靈活,本質上是我們去年推出的產品,它真的有兩個組件。有靈活的日期可以讓人們說,我可以靈活地旅行,我們可以說,我真的很想在明年的任何時候去任何地方旅行一周、一周或一個月。我們也有我靈活的目的地。
We rebuilt I'm Flexible destination from the ground up, and that became Airbnb Categories. So that's the product that has been used or people have seen listings that have been featured in the Airbnb categories over 180 million times since May 11. This has definitely been like a huge boon for us. And what we're seeing is that people are, in fact, discovering homes they would have never otherwise seen in their books. We're seeing the search radius widen by, I think, it was 30 miles, what I said before.
我們從頭開始重建了 I'm Flexible 目的地,這成為了 Airbnb 類別。這就是自 5 月 11 日以來已經使用過的產品,或者人們已經看到了在 Airbnb 類別中出現超過 1.8 億次的房源。這對我們來說無疑是一個巨大的福音。我們看到的是,事實上,人們正在發現他們在書中從未見過的家園。我們看到搜索範圍擴大了,我想是 30 英里,正如我之前所說的那樣。
The other thing we're seeing is that people are continuing to be more flexible about their dates. So more and more people are using the I'm Flexible dates feature as well.
我們看到的另一件事是人們繼續對他們的約會更加靈活。因此,越來越多的人也在使用我靈活的日期功能。
And so we're really excited about this. I think this is a really big thing that we're going to be focusing on, and we're going to continue to be investing in this product because I think this is a bit of a paradigm shift for how people will travel. Not everyone is going to be flexible about how they travel. But for anyone that's not traveling for business or not visiting family, if you were doing leisure travel, almost by definition, you probably have some flexibility.
所以我們對此感到非常興奮。我認為這是我們將要關注的一件非常大的事情,我們將繼續投資於這個產品,因為我認為這是人們旅行方式的一種範式轉變。並不是每個人都會靈活地選擇他們的旅行方式。但對於不是出差或探親的人來說,如果你是在進行休閒旅行,幾乎按照定義,你可能有一些靈活性。
And as fewer and fewer people are going to be required to go into office 5 days a week, I think this option is going to be more and more important. And our business model works uniquely for this because we have a lot of unique inventory. So it has been used quite a lot, and hopefully, that answers your question.
隨著每週 5 天需要上班的人越來越少,我認為這個選項將變得越來越重要。而我們的商業模式為此獨一無二,因為我們有很多獨特的庫存。所以它已經被使用了很多,希望能回答你的問題。
Nicholas Freeman Jones - Director & Equity Research Analyst
Nicholas Freeman Jones - Director & Equity Research Analyst
Yes. And then, I guess a follow-up is in some of the areas that are outside of urban areas, less dense, less, I guess, arguably activities, how are you thinking about adding more optionality to make these types of experience more engaging for the guests?
是的。然後,我想後續行動是在城市地區以外的一些地區,不那麼密集,更少,我想,可以說是活動,你如何考慮增加更多的選擇來讓這些類型的體驗更有吸引力客人?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Sorry, can you elaborate outside of urban areas. Or I'm trying...
對不起,你能在市區以外的地方詳細說明一下嗎?或者我正在嘗試...
Nicholas Freeman Jones - Director & Equity Research Analyst
Nicholas Freeman Jones - Director & Equity Research Analyst
Like if you're in a rural area and there's less activities, arguably, because there's less population, how are you adding -- looking to add more experiences for those guests in those regions?
就像如果您在農村地區並且活動較少,可以說是因為人口較少,您如何添加 - 希望為這些地區的客人增加更多體驗?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Oh, I see. Yes. Well, it's a great question. So number one, Airbnb Categories and the new products we're doing are great ways to highlight really interesting home and communities you never know existed, right? We have like these incredible barns and farm stays and capsules and treehouses. And many of these are in towns you've probably never even heard of, most of them.
我懂了。是的。嗯,這是一個很好的問題。所以第一,Airbnb 類別和我們正在做的新產品是突出真正有趣的家庭和你從未知道存在的社區的好方法,對嗎?我們喜歡這些令人難以置信的穀倉、農場住宿、膠囊和樹屋。其中許多都在您可能從未聽說過的城鎮中,其中大多數。
But there's another good question, if you go to Paris, you have the Eiffel Tower. But if you go to a rural area in upstate New York or in California or some other place, what do you do when you're there? And we do think Airbnb Experiences are great. Obviously, for like places that are not iconic tourism destination. So that's why we're continuing to invest in that product and people really love Airbnb Experiences. They actually have a higher 5-star rating even than home.
但是還有一個很好的問題,如果你去巴黎,你就有埃菲爾鐵塔。但是如果你去紐約州北部或加利福尼亞或其他地方的農村地區,你在那裡時會做什麼?我們確實認為 Airbnb 體驗很棒。顯然,對於那些不是標誌性旅遊目的地的地方。這就是我們繼續投資該產品的原因,人們真的很喜歡 Airbnb Experiences。實際上,他們的 5 星評級甚至比家還高。
So I think this is a great opportunity for rural destinations, and we have a lot of really popular experiences. So like if you go on a farm, you can do a farm stay and then you can have interesting experiences on that farm. So that's just one example. We have really popular experiences, for example, in Tuscany. You can make pasta with a nearly 90-year-old grandmother who's been making pasta the same way for more than half a century. So these are experiences you would have never been able to find, and we're really excited about that.
所以我認為這對鄉村目的地來說是一個很好的機會,我們有很多非常受歡迎的體驗。所以就像你去農場一樣,你可以在農場逗留,然後你就可以在那個農場獲得有趣的體驗。所以這只是一個例子。我們有非常受歡迎的經歷,例如,在托斯卡納。你可以和一位近 90 歲的祖母一起製作意大利面,她半個多世紀以來一直以同樣的方式製作意大利面。所以這些是你永遠無法找到的體驗,我們對此感到非常興奮。
Operator
Operator
The next question is from James Lee with Mizuho.
下一個問題來自瑞穗的 James Lee。
James Lee - MD of Americas Research & Senior Internet Sector Analyst
James Lee - MD of Americas Research & Senior Internet Sector Analyst
And maybe as we look into FY '23, obviously, we have a lot of economic uncertainties here. If the economy indeed slows down and consumers start to trade down, how do you think that impacts Airbnb's business?
也許當我們研究 23 財年時,顯然,我們這裡有很多經濟不確定性。如果經濟確實放緩並且消費者開始減少交易,您認為這會如何影響 Airbnb 的業務?
And also on the other hand, if you look at expenses, the demand slowdown, is there anything in your cost structure you could optimize to offset any potential headwinds?
另一方面,如果您查看費用,需求放緩,您的成本結構中有什麼可以優化以抵消任何潛在的不利因素嗎?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave, do you want to take that? .
戴夫,你想接受嗎? .
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Sure. I think we've highlighted this a bit on the call that you don't know what the economy is going to bring, but we do know that Airbnb is resilient to almost any kind of economic shock. As Brian mentioned, we're founded in a recession, and we've obviously thrived in the era of COVID despite COVID. And what we're just finding is that people can come to Airbnb because we have any kind of property, whether it's a small shared room or a private room to luxury stays, we have something for anyone depending on their travel needs.
當然。我認為我們在電話會議上強調了這一點,你不知道經濟會帶來什麼,但我們確實知道 Airbnb 幾乎可以抵禦任何類型的經濟衝擊。正如布賴恩所說,我們是在經濟衰退中成立的,儘管有 COVID,但我們顯然在 COVID 時代蓬勃發展。我們剛剛發現,人們可以來Airbnb,因為我們有任何類型的房產,無論是小型共享房間還是豪華住宿的私人房間,我們都可以根據他們的旅行需求為任何人提供一些東西。
And we likely saw on COVID, if they can't cross borders, they're going to stay domestically. They get in the car and they go down the road. If domestic -- if air travel gets too expensive, they -- again, they can stay domestically, and they can basically, within their budget, find the perfect place for them because we have such a diversity of types of offerings for them. So I think that is one of the things that just gives us this great resilience.
我們很可能在 COVID 上看到,如果他們不能跨境,他們將留在國內。他們上了車,沿著路走。如果國內 - 如果航空旅行變得太貴,他們 - 再次,他們可以留在國內,而且他們基本上可以在他們的預算範圍內為他們找到完美的地方,因為我們為他們提供瞭如此多樣化的產品類型。所以我認為這是賦予我們強大韌性的原因之一。
And then in terms of expenses, if the business slows down, I mean, again, we've already made the hard choices. In 2020, we substantially reduced our fixed costs. We eliminated a number of positions. We moved from being divisional to functional. So we are a leaner, tighter machine, and we will remain that way. We're going to continue to grow. We're growing headcount maybe high single-digit percentage rates, but that is going to be able to support us for the very long term, and we're going to remain very focused and disciplined in our investments. So I feel really good about the position that we're in with our investment model.
然後在費用方面,如果業務放緩,我的意思是,我們已經做出了艱難的選擇。 2020 年,我們大幅降低了固定成本。我們取消了一些職位。我們從部門轉變為職能部門。所以我們是一台更精簡、更緊湊的機器,我們將保持這種狀態。我們將繼續增長。我們的員工人數正在增加,可能是個位數的高百分比,但這將能夠為我們提供長期支持,我們將在投資中保持非常專注和自律。所以我對我們在投資模式中所處的位置感覺非常好。
Operator
Operator
The next question is from Brian Fitzgerald with Wells Fargo.
下一個問題來自富國銀行的 Brian Fitzgerald。
Brian Nicholas Fitzgerald - Senior Analyst
Brian Nicholas Fitzgerald - Senior Analyst
We wanted to ask about the recovery of supply that you continue to see, maybe particularly in urban areas. Are you seeing hosts who had come off the platform now coming back, wondering how you're making these hosts aware of the increased urban demand and helping to reactivate them? And any color there on that, maybe latent supply capacity, if you could, that'd be awesome.
我們想詢問您繼續看到的供應恢復情況,尤其是在城市地區。您是否看到從平台上下來的房東現在又回來了,想知道您如何讓這些房東意識到城市需求的增加並幫助他們重新激活他們?上面的任何顏色,也許是潛在的供應能力,如果可以的話,那就太棒了。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave, do you want to take this? .
戴夫,你想拿這個嗎? .
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. A couple of notes on the supply growth. We just continue to see strong supply growth. I think since 2019, our Nights and Experiences Booked, they grew 24%, and our active listings have grown 23%. And we have over 6 million active listings now even taking down the domestic listings in China. So as you mentioned on the urban side, the active listings -- well, I'll start with the nonurban. Nonurban increased 7% quarter-over-quarter and 16% from Q2 '21.
是的。關於供應增長的幾點說明。我們只是繼續看到強勁的供應增長。我認為自 2019 年以來,我們的住宿和體驗預訂量增長了 24%,我們的活躍房源增長了 23%。我們現在有超過 600 萬個活躍房源,甚至取消了在中國的國內房源。所以正如你在城市方面提到的,活躍的列表——好吧,我將從非城市開始。非城市地區環比增長 7%,比 21 年第二季度增長 16%。
And then in North America, they've increased 23%. But then to your specific question, yes, as demand returns to cities, we're seeing a return to growth in the total urban supply. And exactly right, the people that have properties, they come back on to Airbnb and are ready to host again. I mean, if you kind of step back and think about it, because the vast majority of our hosts are individual hosts, and then therefore, the vast majority of their listings are either their primary home or maybe a secondary home, they don't get rid of those in a recessionary environment and other things.
然後在北美,他們增加了 23%。但是對於您的具體問題,是的,隨著需求返回城市,我們看到城市總供應量恢復增長。沒錯,擁有房產的人會回到 Airbnb 並準備再次託管。我的意思是,如果你退後一步想一想,因為我們的絕大多數房東都是個人房東,因此,他們的絕大多數房源要么是他們的主要住宅,要么可能是次要住宅,他們不會擺脫那些處於衰退環境和其他事物中的人。
I mean it's not like a professional host, which may be looking at the pure return on investment opportunity of the property at a particular point in time. And so with those individual houses, when the demand comes back, they come back on to Airbnb and the listings are there. So it's precisely what we're seeing. When the demand comes back, the supply is right there ready for them to stay.
我的意思是,它不像專業的房東,可能會在特定的時間點看物業的純投資回報機會。因此,對於那些單獨的房子,當需求回來時,他們會回到 Airbnb 並且房源就在那裡。所以這正是我們所看到的。當需求回來時,供應就在那裡準備好讓他們留下來。
Operator
Operator
The next question is from Mark Mahaney with Evercore ISI.
下一個問題來自 Evercore ISI 的 Mark Mahaney。
Mark Stephen F. Mahaney - Senior MD & Head of Internet Research
Mark Stephen F. Mahaney - Senior MD & Head of Internet Research
Okay. I think I'll ask 2 questions. Just talk about the China outbound market and how you tap into that, how material that's been for you to date? And then on experiences, I know that's in that list of -- a long list of things that you've been working on in terms of product innovations. It seems like it was less -- it's been less of a priority, but is there anything that suggested it's rising a little bit in your list of priorities and that you want to lean into it more aggressively in '23?
好的。我想我會問2個問題。談談中國出境市場,以及你是如何進入這個市場的,迄今為止對你來說有多重要?然後關於經驗,我知道那是你在產品創新方面一直在做的一長串事情的清單。似乎它不那麼重要了——它不是一個優先事項,但是有沒有什麼表明它在你的優先事項列表中上升了一點,並且你想在 23 年更積極地傾向於它?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes. Dave, why don't you take China, I can expand on the answer and I'll take Experiences. .
是的。戴夫,你為什麼不選擇中國,我可以擴展答案,我會選擇經驗。 .
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. I mean we're very bullish on China over the longer term. I mean it's obviously been significantly impacted due to COVID. People are not traveling outbound. I mean that's actually right how we started the business, is seeing great outbound travel from China all around the world. And then -- and that is still the prize for us to kind of continue to focus on.
是的。我的意思是,從長遠來看,我們非常看好中國。我的意思是它顯然受到了 COVID 的重大影響。人們沒有出境旅行。我的意思是這實際上是我們開展業務的正確方式,我們看到了來自中國的大量出境游在世界各地。然後 - 這仍然是我們繼續關注的獎品。
So right now, APAC is still significantly depressed. I mean if you look at our overall nights growth, as we said, it's 25% up from Q2 of 2019. But if you exclude APAC, it's actually up 35%. So you can see what kind of a drag that has. And I think the reacceleration -- further acceleration of the business from where we're at today will be benefited by having -- trying to outbound come back and resurrecting our APAC business.
所以現在,亞太地區仍然非常沮喪。我的意思是,如果你看看我們的整體夜間增長,正如我們所說,它比 2019 年第二季度增長了 25%。但如果你排除亞太地區,它實際上增長了 35%。所以你可以看到有什麼樣的阻力。而且我認為重新加速 - 從我們今天所處的位置進一步加速業務將受益於 - 嘗試出境回歸併重振我們的亞太地區業務。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes. I would just add to that, that we have absolutely seen in every other geography in the world that there is pent-up demand. In North America, there was pent-up demand. In Europe, there was pent-up demand. We expect there will probably be a lot of pent-up demand for travel from China outbound and more broadly in APAC.
是的。我只想補充一點,我們絕對在世界上所有其他地區都看到了被壓抑的需求。在北美,需求被壓抑。在歐洲,需求被壓抑。我們預計中國出境游以及更廣泛的亞太地區可能會有大量被壓抑的旅遊需求。
And so how we've been preparing? Well, number one way to prepare for the China outbound business is to make sure we have really great supply in the corridors where people in China are traveling to. This includes like Japan and Korea, Southeast Asia and beyond. The next thing is just making sure that once people are ready to travel, our product is continuing to be updated, and we have the marketing campaign ready to go. So it's a pretty simple strategy.
那麼我們是如何準備的呢?好吧,為中國出境業務做準備的第一個方法是確保我們在中國人們前往的走廊上有大量供應。這包括日本和韓國,東南亞及其他地區。接下來的事情就是確保一旦人們準備好旅行,我們的產品就會繼續更新,並且我們已經準備好開展營銷活動。所以這是一個非常簡單的策略。
The great thing is we don't have to make a lot of changes. We think our product as it is, is going to be great once the China outbound rebounds, and we think it will. We expect -- everything suggests it will, just like every other market. So we're pretty excited about that. And I think that in the coming years, this will actually be a pretty important part of our APAC business.
最棒的是我們不需要做很多改變。我們認為,一旦中國出境市場反彈,我們的產品將會很棒,我們認為它會。我們期待——一切都表明它會,就像其他所有市場一樣。所以我們對此感到非常興奮。我認為在未來幾年,這實際上將成為我們亞太地區業務的一個非常重要的部分。
Now with regards to experiences, yes, I mean, Mark, let me just give a little bit of context. 2018, 2019 experiences is going along pretty well, and we expected that 2020 was going to be a breakout year for experiences. And I was going to -- we were going to focus quite a lot of energy on it. And then, of course, the opposite happened. There was a pandemic. We had to pause the business, people were not comfortable gathering in person, let alone meeting strangers.
現在關於經驗,是的,我的意思是,馬克,讓我提供一點背景信息。 2018 年、2019 年的體驗進展順利,我們預計 2020 年將是體驗突破的一年。我打算——我們將把大量精力集中在它上面。然後,當然,相反的事情發生了。發生了一場流行病。我們不得不暫停業務,人們不願意親自聚會,更不用說遇到陌生人了。
And so during the depths of the pandemic, we got focused back on our core business. We got back to basics. And I think that explains a lot of the business transformation we experienced, especially now we've generated nearly (inaudible) of free cash flow. That being said, we remain incredibly bullish about the long-term potential of experiences. The average 5-star rating for Experiences, as I mentioned, is higher than the average 5-star ratings even for homes. And we just think people need to know more about this product. It needs to be continually integrated into the search flow, and we need to continue to market it.
因此,在大流行最嚴重的時候,我們重新專注於我們的核心業務。我們回到了基礎。我認為這解釋了我們經歷的很多業務轉型,尤其是現在我們已經產生了幾乎(聽不清)的自由現金流。話雖如此,我們仍然非常看好體驗的長期潛力。正如我所提到的,體驗的平均 5 星評級甚至高於家庭的平均 5 星評級。我們只是認為人們需要更多地了解這個產品。它需要不斷地整合到搜索流中,我們需要繼續推銷它。
So the answer to your question, yes, Experiences will become once again a rising priority, and we are making quite a few investments in the product to continue to highlight experiences. And I think it's going to be a big part of our story in 2023 and beyond over really the next 5 years. So I'm really excited about them.
因此,您的問題的答案是,是的,體驗將再次成為越來越重要的優先事項,我們正在對該產品進行大量投資以繼續突出體驗。而且我認為這將成為我們 2023 年及以後 5 年故事的重要組成部分。所以我對他們真的很興奮。
Operator
Operator
Our next question is from John Colantuoni with Jefferies.
我們的下一個問題來自 Jefferies 的 John Colantuoni。
John Robert Colantuoni - Equity Analyst
John Robert Colantuoni - Equity Analyst
So last quarter, you mentioned an expectation for marketing as a percentage of revenue to remain relatively flat compared to 2021. Maybe -- is it possible for you to update us on whether or not that's still your expectation following marketing in the first half coming in a few hundred basis points below last year? And I have a follow-up.
因此,上個季度,您提到了與 2021 年相比,營銷佔收入的百分比將保持相對平穩的預期。也許 - 您是否有可能向我們更新這是否仍然是您在上半年營銷之後的預期比去年低幾百個基點?我有一個後續行動。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave?
戴夫?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. The short answer is we anticipate marketing as a percentage of revenue in 2022 will be consistent with 2021. So a very modest increase in the back half of the year.
是的。簡短的回答是,我們預計 2022 年營銷佔收入的百分比將與 2021 年保持一致。因此,今年下半年的增長非常溫和。
John Robert Colantuoni - Equity Analyst
John Robert Colantuoni - Equity Analyst
Okay. Great. And second question on take rate. It looks like outlook for the third quarter implies a take rate that's better than what we were expecting and up a decent chunk versus the same quarter in 2019. Any chance you can give us some detail about the puts and takes driving that take rate?
好的。偉大的。第二個關於錄取率的問題。看起來第三季度的前景意味著一個好於我們預期的利率,並且與 2019 年同一季度相比上升了相當大的一部分。你有沒有機會給我們一些關於看跌期權和推動這個利率的細節?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. The underlying kind of -- if you shifted take rate is unchanged. So any of the variation in take rate is just a timing difference between revenue stays versus timing of bookings.
是的。潛在的——如果你改變了採取率是不變的。因此,接受率的任何變化都只是收入停留時間與預訂時間之間的時間差異。
Operator
Operator
Our next question is from Stephen Ju with Credit Suisse.
我們的下一個問題來自瑞士信貸的 Stephen Ju。
Stephen D. Ju - Director
Stephen D. Ju - Director
So Brian, I think you yourself signed up to be a digital nomad and joined your employees who could now, I guess, work from anywhere. So is there anything you can share in terms of what you're seeing from the organization overall regarding pickups or declines in productivity or your ability to innovate?
所以布賴恩,我認為你自己註冊成為數字游牧民並加入你的員工,我猜他們現在可以在任何地方工作。那麼,就您從整個組織中看到的關於生產力的提高或下降或您的創新能力而言,您有什麼可以分享的嗎?
And Dave, at the time of the IPO, I think you guys had disclosed that the different cohorts of guests were displaying pretty similar revenue retention as they age. But as we enter the pandemic, you probably had a pretty good influx of new users who signed up to experience Airbnb for the first time ever. So is there anything you can share in terms of the behavior of the 2020 and the '21 cohorts relative to what you have seen for the folks who are arguably the earlier adopters.
戴夫,在首次公開募股時,我認為你們已經透露,隨著年齡的增長,不同的客人群體的收入保留率非常相似。但是當我們進入大流行時,您可能會有相當多的新用戶湧入,他們是有史以來第一次註冊體驗 Airbnb。那麼,就 2020 年和 21 年群體的行為而言,您有什麼可以分享的,相對於您對可以說是早期採用者的人們所看到的情況。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes. So why don't I take the first question on really remote work. So in April, we announced that Airbnb employees can live and work anywhere. And why do we do this? Well, there are a couple of reasons. Number one, we had the most productive 2 years in our company history. And those 2 years were 2 years when we rebuilt the company from the ground up, fixed our cost base, accelerated growth. And all of this was done on Zoom. And so it's very clear to me that like the most productive we have ever been is on Zoom. And so I thought -- there was no question that we can maintain that productivity.
是的。那麼,我為什麼不回答關於真正遠程工作的第一個問題。所以在 4 月,我們宣布 Airbnb 員工可以在任何地方生活和工作。我們為什麼要這樣做?嗯,有幾個原因。第一,我們經歷了公司歷史上生產力最高的 2 年。這兩年是我們從頭開始重建公司、固定成本基礎、加速增長的兩年。而這一切都是在 Zoom 上完成的。所以我很清楚,我們有史以來最高效的工作就是在 Zoom 上。所以我想——毫無疑問,我們可以保持這種生產力。
Additionally, I think a really good way to predict the future is to look at what young companies do, right? 20 years ago, young companies had open floor plans and they had a lot of perks on site, and that became the dominant way that people worked in offices around the world. If you look at a lot of young companies today, they have a lot of flexibility. They're embracing remote work. And so I think this is a really good leading indicator of what the office space -- office place -- office environment of the future will look like in the next 10 years.
此外,我認為預測未來的一個非常好的方法是看看年輕公司做了什麼,對吧? 20 年前,年輕的公司有開放式平面圖,他們在現場有很多福利,這成為人們在世界各地辦公室工作的主要方式。如果你看看今天很多年輕的公司,他們有很大的靈活性。他們正在接受遠程工作。因此,我認為這是一個非常好的領先指標,可以預測未來 10 年辦公空間 - 辦公場所 - 未來辦公環境的樣子。
Now that being said, we do think in-person interaction is really important, but I don't think that requires you to have to come to an office 3 days a week. So the guideline that we've given is we'd like to gather employees at least 1 week a quarter. So rather than kind of coming in every week, we want more meaningful, less frequent interactions and gatherings. And otherwise, we think Zoom is really, really efficient for productivity.
話雖如此,我們確實認為面對面的互動非常重要,但我認為這並不需要你每週 3 天來辦公室。因此,我們給出的指導方針是,我們希望每季度至少召集 1 週的員工。因此,與其每週都來,不如說我們想要更有意義、更不頻繁的互動和聚會。否則,我們認為 Zoom 確實非常有效地提高了生產力。
And the other thing I'll just say is I know a lot of CEOs are kind of nervous about productivity if their employees aren't in an office. But we have a pretty unique way we run the company. We do these 2 releases every year, and it's a really great mechanism for accountability. So you can see the productivity of everyone in the organization because all the work is kind of coming together twice a year to make these really big leaps in the organization. So it's actually, in a sense, kind of easier to track productivity when everything is really online. And so that's something that we're really embracing.
我要說的另一件事是,如果他們的員工不在辦公室,很多 CEO 都會對生產力感到緊張。但我們經營公司的方式非常獨特。我們每年都會發布這兩個版本,這是一個非常好的問責機制。所以你可以看到組織中每個人的生產力,因為所有的工作每年都會進行兩次,以在組織中實現這些真正的巨大飛躍。因此,從某種意義上說,當一切都真正在線時,實際上更容易跟踪生產力。這就是我們真正接受的東西。
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Great. And then relative to cohorts, what we're starting to see is we believe, to start with, that we have some of the highest guest retention rates in travel. We still -- we said it in our IPO, and we still believe that to be true. And our booking frequency remains quite strong. It's getting closer to 2019 levels. And as we manage -- look at the cohorts, really, what we're seeing in 2020 and 2021, the new guest cohorts, they've been actually very retentive, even maybe more so than kind of historical levels likely due to some self-selection.
偉大的。然後相對於同夥,我們開始看到的是,我們相信,首先,我們在旅行中擁有一些最高的客人保留率。我們仍然 - 我們在 IPO 中說過,我們仍然相信這是真的。而且我們的預訂頻率仍然很高。它越來越接近2019年的水平。正如我們所管理的那樣——看看這些群體,真的,我們在 2020 年和 2021 年看到的新客人群體,他們實際上非常留存,甚至可能比可能由於某些自我的歷史水平更-選擇。
New guests who joined in the years of pandemic are willing to kind of travel now are probably more inclined to kind of travel than others. And then in terms of rebooking rates of past guests, we've seen nice improving rates in those trends here in 2022, above kind of 2021 levels, but maybe still a bit below 2019, again, just given the nature of self-selection of who's willing to kind of travel at this time.
在大流行年加入的新客人現在可能比其他人更傾向於那種旅行。然後就過去客人的重新預訂率而言,我們已經看到 2022 年這些趨勢的比率有很大提高,高於 2021 年的水平,但可能仍略低於 2019 年,只是考慮到自我選擇的性質谁愿意在這個時候出差。
Operator
Operator
The next question is from Kevin Kopelman with Cowen.
下一個問題來自 Cowen 的 Kevin Kopelman。
Kevin Campbell Kopelman - MD & Senior Research Analyst
Kevin Campbell Kopelman - MD & Senior Research Analyst
Can you give us a sense of what listings growth looks like ex the China shutdown? And then qualitatively, if you could talk about the key drivers and trends you're seeing there and listings.
您能否讓我們了解一下中國停擺前的房源增長情況?然後定性地講,如果你能談談你在那裡看到的關鍵驅動因素和趨勢以及列表。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave, do you want to take that?
戴夫,你想接受嗎?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. Yes. I mean in terms of the growth, what we've stated is that we're still well above 6 million active listings, even excluding the takedown of the China domestic. So -- and as we kind of mentioned in our results, we're seeing strong listings growth, specifically in the areas where we have the strongest kind of bookings. So...
是的。是的。我的意思是,就增長而言,我們所說的是,即使不包括中國國內的取消,我們的活躍上市數量仍遠高於 600 萬。所以 - 正如我們在結果中提到的那樣,我們看到了強勁的房源增長,特別是在我們擁有最強預訂的地區。所以...
Kevin Campbell Kopelman - MD & Senior Research Analyst
Kevin Campbell Kopelman - MD & Senior Research Analyst
Did you give the number of China listings?
你有沒有給中國上市的數量?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
We have not specifically mentioned the China listings, no.
我們沒有特別提到中國上市,沒有。
Kevin Campbell Kopelman - MD & Senior Research Analyst
Kevin Campbell Kopelman - MD & Senior Research Analyst
Okay. And then just a quick follow-up on -- so on the Q2 guide, you talked about slowing later in the quarter, but you were still pretty much on your -- where you had guided for nights. Is it safe to assume for the third quarter, you're also assuming some slowdown in the remainder of that quarter?
好的。然後只是快速跟進 - 所以在第二季度指南中,你談到了在本季度晚些時候放慢速度,但你仍然非常 - 你曾經指導過晚上。假設第三季度是否安全,您還假設該季度剩餘時間會有所放緩?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Well, if anything, what we're seeing is an acceleration of the business here in July and actually kind of a very stable overall nights booked growth for the quarter on Nights and Experiences Booked. I mean, obviously, then for our revenue, it has a modest -- has a decel on a year-over-year basis, but actually will be up from kind of a year over 3 years.
好吧,如果有的話,我們看到的是 7 月份這裡的業務加速,實際上本季度的預訂夜數和預訂的體驗數的總體預訂夜數增長非常穩定。我的意思是,顯然,對於我們的收入來說,它有適度的 - 同比下降,但實際上會在 3 年多的時間裡增加一年。
Operator
Operator
The next question is from Brian Nowak with Morgan Stanley.
下一個問題來自摩根士丹利的 Brian Nowak。
Brian Thomas Nowak - Research Analyst
Brian Thomas Nowak - Research Analyst
I have 2. The first one, just any update on the number of I'm Flexible queries or sort of how big that's gotten? I know it's a number that you all were disclosing for a couple of quarters. .
我有 2 個。第一個,只是關於 I'm Flexible 查詢數量的任何更新,或者有多大?我知道這是一個你們都披露了幾個季度的數字。 .
And then secondly, there remains to be an ongoing debate about how much of the shift toward Airbnb long-term accommodations was sort of COVID, and now you're going to have a mean reversion back to our hotels.
其次,關於向 Airbnb 長期住宿的轉變在多大程度上是一種新冠病毒,仍然存在一個持續的爭論,現在你將平均回歸到我們的酒店。
What are 2 or 3 of the KPIs that you look at that sort of give you confidence that your addressable market of users, of the hosts, everything has really expanded. Like what are you seeing in the internal KPIs that you watch now in July and August that give you confidence that you're still going to have outsized market share growth into '23.
您查看的 2 或 3 個 KPI 是什麼讓您確信您的可尋址用戶市場,主機市場,一切都真正擴大了。就像您在 7 月和 8 月看到的內部 KPI 中看到的一樣,這讓您有信心到 23 年仍然會有超大的市場份額增長。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave, you want take this?
戴夫,你要拿這個嗎?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. I mean we're continuing to see just really strong growth in our new guests. Obviously, looking at our new guests, our new guest retention, which is one of the questions we just had, which remains quite strong with people coming back on. We're continuing to see just overall utilization of Airbnb versus hotels. We didn't ever dip as much as hotels did, and we introduced Airbnb to millions of new customers. And we see the new use cases.
是的。我的意思是,我們繼續看到新客人的強勁增長。顯然,看看我們的新客人,我們的新客人保留率,這是我們剛剛遇到的問題之一,隨著人們的回歸,它仍然非常強大。我們繼續看到 Airbnb 與酒店的整體利用率。我們從來沒有像酒店那樣低調,我們向數百萬新客戶介紹了 Airbnb。我們看到了新的用例。
I mean, we've highlighted things like our long-term stays and the use cases where people aren't going to want to be at a hotel for more than 7 days. And so the portion of our business, nearly 50% that are over 7 days is really helpful in that regard and over 28 days, it's nearly 1/5 of our business. So we look at just the destinations that people are able to kind of travel. So the robustness of historically have been cross-border in urban. And now what we've seen is great growth in suburban and nonurban and some of the distribution of the nights around the world. I think that is also giving us great confidence in the growth of our business overall.
我的意思是,我們強調了一些事情,比如我們的長期住宿以及人們不想在酒店待超過 7 天的用例。所以我們的業務部分,將近 50% 超過 7 天在這方面確實很有幫助,超過 28 天,它幾乎是我們業務的 1/5。因此,我們只關注人們能夠旅行的目的地。所以歷史上的穩健性在城市中一直是跨界的。現在我們看到的是郊區和非城市地區的巨大增長,以及世界各地夜間的一些分佈。我認為這也讓我們對整體業務的增長充滿信心。
Because we don't just tap out. If we were only, say, a vacation rental destination-type company, you can tap out in either supply and even demand in those kind of areas. But that's really -- we have such a diversity of supply around the world that we're able to continue to grow quite well.
因為我們不只是挖掘出來。如果我們只是一家度假租賃目的地型公司,您可以在這些領域的供應甚至需求中挖掘出來。但這確實是——我們在世界各地擁有如此多樣化的供應,我們能夠繼續保持良好的增長。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes. Maybe I'll just -- Brian, maybe I'll add a little bit of context. It's good to remember that before the pandemic, our bread and butter was cross-border and urban, right? That was our bread and butter, it was cross-border travel and urban travel. And of course, when the pandemic occurred, that got primarily shut off, and yet our business recovered because people were using Airbnb differently.
是的。也許我會--布賴恩,也許我會添加一點上下文。很高興記住,在大流行之前,我們的生計是跨境和城市的,對吧?那是我們的生計,是跨境旅行和城市旅行。當然,當大流行發生時,它主要被關閉,但我們的業務恢復了,因為人們使用 Airbnb 的方式不同。
I think that really the key important thing here is that our model is obviously incredibly adaptable. We are in nearly every community in the world. We have nearly every type of space at nearly every type price point. And I think that the reason that people would use Airbnb will continue to endure. People are looking for value. They want to feel like they live at the local. As more and more people have flexibility and trip trick length and continues to increase, nearly half of our business is a week or longer, it's prohibitive probably to stay in hotels. So there's a lot of new use cases that we think are here to stay. So the thing I'm pretty excited about is that a lot of the older use cases, cross-border and urban, are coming back.
我認為這裡真正重要的是我們的模型顯然具有令人難以置信的適應性。我們幾乎遍布世界上的每個社區。我們幾乎在每種類型的價位都有幾乎每種類型的空間。而且我認為人們使用 Airbnb 的原因將繼續存在。人們在尋找價值。他們想感覺自己住在當地。隨著越來越多的人具有靈活性和旅行技巧的長度並不斷增加,我們將近一半的業務是一周或更長時間,住在酒店可能令人望而卻步。因此,我們認為有很多新的用例會繼續存在。所以我非常興奮的是,許多舊的用例,跨境和城市,正在回歸。
Operator
Operator
The next question is from Naved Khan with Truist Securities.
下一個問題來自 Truist Securities 的 Naved Khan。
Naved Ahmad Khan - Analyst
Naved Ahmad Khan - Analyst
I'm really surprised by the continued strength in North America and in the U.S. I think you talked about a 37% growth in Nights and Experiences versus EMEA, maybe up 25%. Is it just that EMEA continues to lag? Or just from everything that we've been hearing, it seems like EMEA saw like a burst of demand in the second quarter. So just trying to reconcile that.
我對北美和美國的持續增長感到非常驚訝。我想你談到了夜遊和體驗與 EMEA 相比增長了 37%,可能增長了 25%。僅僅是歐洲、中東和非洲地區繼續落後嗎?或者只是從我們聽到的一切來看,EMEA 似乎在第二季度看到了需求的爆發。所以只是試圖調和這一點。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Dave?
戴夫?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. I mean EMEA is still lagging behind the acceleration that we've seen in North America, and we think that, that is actually one of the opportunities for future acceleration of the business. I mean, clearly, things like the impact of the war in Ukraine certainly has had an impact. And there's obviously the economic impact of even just foreign exchange rates, lower euro and British pound relative to the U.S. dollar. So there are some reasons why Europe has been lagging. It's still a strong business for us. It's still doing well, but it could even do better. .
是的。我的意思是 EMEA 仍然落後於我們在北美看到的加速,我們認為這實際上是未來加速業務的機會之一。我的意思是,很明顯,像烏克蘭戰爭的影響這樣的事情肯定會產生影響。顯然,即使只是外匯匯率、歐元和英鎊相對於美元貶值也會對經濟產生影響。因此,歐洲一直落後是有一些原因的。對我們來說,這仍然是一項強大的業務。它仍然做得很好,但它甚至可以做得更好。 .
Naved Ahmad Khan - Analyst
Naved Ahmad Khan - Analyst
And then maybe just as a follow-up. So if I have to think about the back half and the advertising channels, do you see opportunity to increase the branded ad spend? Or do you think you're pretty much maxed out and might just stay on these levels?
然後也許只是作為後續行動。因此,如果我必須考慮後半部分和廣告渠道,您是否看到增加品牌廣告支出的機會?或者你認為你已經達到極限了,可能只會停留在這些水平上?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Well, again, I think we have a very -- a modest increase in our overall marketing spend in the back half of the year. We're very happy with the approach to our brand spend. I mean, again, if you step back, one of the big strengths of Airbnb is our ability to market to both guests and hosts at the same time, to be able to bring guests with 90% of our traffic remaining direct or unpaid. And I think this brand strategy, frankly, it's more of a product marketing strategy that we have to market the features and capabilities that we have in Airbnb, what makes us different, has been a huge strength for us.
好吧,我認為我們在今年下半年的整體營銷支出略有增加。我們對品牌支出的方式非常滿意。我的意思是,如果你退後一步,Airbnb 的一大優勢是我們能夠同時向客人和房東推銷,能夠為客人帶來 90% 的直接或無償流量。而且我認為這個品牌戰略,坦率地說,它更像是一種產品營銷戰略,我們必須推銷我們在 Airbnb 中擁有的特性和功能,是什麼讓我們與眾不同,這對我們來說是一個巨大的優勢。
So we're really happy with that investment. We think we're investing fully at the moment there. We will look over time to maybe expand the countries that we're doing more of that investment. So later this year and into early next, you could see us expanding into more countries because we're seeing such good success with our investment right now.
因此,我們對這項投資感到非常滿意。我們認為我們目前在那裡進行了充分的投資。隨著時間的推移,我們將考慮擴大我們正在進行更多投資的國家。因此,今年晚些時候和明年初,您可能會看到我們擴展到更多國家,因為我們現在的投資取得瞭如此大的成功。
Operator
Operator
The next question is from Jed Kelly with Oppenheimer.
下一個問題來自 Jed Kelly 和 Oppenheimer。
Jed Kelly - Director & Senior Analyst
Jed Kelly - Director & Senior Analyst
Great. Two, if I may. Just one on the nonurban listings, it continues to grow well, and you're adding a lot of supply. Can you sort of touch on where the share gains are coming from, like where those listings are coming from? Is it coming from people not using their second home as much and going back to more urban destination? Or are you taking more share with property managers? Or are you opening up with new destinations?
偉大的。二,如果可以的話。只有一個在非城市列表中,它繼續增長良好,並且您正在增加大量供應。你能談談股票收益的來源,比如這些上市的來源嗎?是否來自人們不經常使用第二個家並回到更多城市目的地?還是您與物業經理分享更多?還是您正在開闢新的目的地?
Then my second question just relates to over and all seasonality this year. It seems like the room nights is following a consistent seasonal trend as 2019. So should we expect a similar 4Q seasonality as 2019?
然後我的第二個問題與今年的所有季節性有關。房間夜數似乎與 2019 年保持一致的季節性趨勢。那麼我們是否應該期待與 2019 年類似的第四季度季節性?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Yes. So maybe -- why don't I -- I can at least answer the first not the urban listings at a high level. And Dave, you can answer maybe more specifically and also talk about seasonality. .
是的。所以也許——我為什麼不——我至少可以回答第一個,而不是高水平的城市列表。戴夫,你可以更具體地回答,也可以談談季節性。 .
So Jed, at the highest level, I would say that one of the things that we've seen is that we have a global network where the fastest-growing market from a supply basis are typically the fastest-growing markets from a demand basis. And this is not surprising because the #1 source of host are prior guests.
因此,傑德,在最高級別上,我想說的是,我們所看到的一件事是,我們擁有一個全球網絡,其中從供應基礎上增長最快的市場通常是從需求基礎上增長最快的市場。這並不奇怪,因為排名第一的主人來源是之前的客人。
So specifically in non-urban listings, it's -- it's not a uniquely different composition. It's not like it's a lot more property managers or anything like that. It's pretty consistent composition from years prior. So the vast majority of listings are individuals, but there are also property managers that are continuing to come out on the platform. We're also seeing people continue to open up more nights on their calendar. As demand goes up, people are often motivated to add more availability on their calendar.
因此,特別是在非城市列表中,它不是一個獨特的不同組成。這不像是更多的物業經理或類似的東西。這是幾年前相當一致的組成。因此,絕大多數房源都是個人,但也有物業經理不斷出現在平台上。我們還看到人們繼續在他們的日曆上開放更多的夜晚。隨著需求的增加,人們經常被激勵在他們的日曆上增加更多的可用性。
And also as people get more business, they tend to tell their friends about it. And this is one of the great things about having a business where the vast majority of your supply are individuals. So we continue to see really strong growth in nonurban listings. But as urban recovers, we are anticipating that we're going to see some solid supply growth in urban areas as well. Dave, feel free to elaborate on that and take the second question as well.
而且隨著人們獲得更多業務,他們傾向於告訴他們的朋友。這是擁有絕大多數供應商都是個人的企業的一大好處。因此,我們繼續看到非城市房源的強勁增長。但隨著城市的複蘇,我們預計城市地區的供應也將出現穩健增長。戴夫,請隨時詳細說明並回答第二個問題。
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes, I think you covered the first really well. I mean, I'll just say on the Nights and Experiences Booked kind of seasonality. Now that we kind of enter Q3 and Q4, it's probably just better to look at the year-over-year growth rates as kind of being more normalized. And I think that's the better way to kind of look at the overall seasonal growth.
是的,我認為你很好地涵蓋了第一個。我的意思是,我只會說“預訂之夜和體驗”的季節性。既然我們進入了第三季度和第四季度,最好將同比增長率視為更加正常化。我認為這是看待整體季節性增長的更好方法。
Operator
Operator
The next question is from Tom White with D.A. Davidson.
下一個問題來自 D.A. 的 Tom White。戴維森。
Thomas Cauthorn White - MD & Senior Research Analyst
Thomas Cauthorn White - MD & Senior Research Analyst
Brian, during the early days of the pandemic, you talked about narrowing your focus on Airbnb's most perishable opportunities. You guys have now achieved profitability at scale. Your cash balance has grown significantly. Can you update us on maybe your latest thinking about those nonperishable opportunities? Are any of them particularly attractive to you? Or should we maybe infer from the buyback announcement that maybe you're not super close to really exploring those opportunities again?
布賴恩,在大流行的早期,您談到了將注意力集中在 Airbnb 最易腐爛的機會上。你們現在已經實現了規模化盈利。您的現金餘額顯著增加。您能否向我們介紹一下您對那些不易腐爛的機會的最新想法?它們中的任何一個對你特別有吸引力嗎?或者我們是否應該從回購公告中推斷出您可能還沒有非常接近再次真正探索這些機會?
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Tom, yes. So again, during the 2020 pandemic curve, just to recap, we got really focused. We got back to basics. And over the last 2 years, I think we've really, really benefited by perfecting our core product. That being said, we are now looking and we are thinking very expansively. So you should look at our stock buyback as our confidence in our long-term growth and profitability. That's all you should believe that stock buyback's about.
湯姆,是的。因此,再次回顧一下,在 2020 年大流行曲線期間,我們非常專注。我們回到了基礎。在過去的 2 年裡,我認為我們已經通過完善我們的核心產品而受益匪淺。話雖如此,我們現在正在尋找並且我們正在非常廣泛地思考。因此,您應該將我們的股票回購視為我們對長期增長和盈利能力的信心。這就是你應該相信股票回購的全部內容。
That being said, we are going to continue to be investing aggressively over the coming years. So we are not pulling on the brake; we are now stepping on the gas. Remember, like the biggest innovations I had aren't going to be in my 20s and 30s, right? So we have some pretty big opportunities coming up. I'm excited about some of the things we're going to be releasing later this year, but we have another release coming next spring in time for the summer release and the following winter. And again, we're going to continue to focus on unlocking the next generation of host.
話雖如此,我們將在未來幾年繼續積極投資。所以我們沒有踩剎車;我們現在正在踩油門。請記住,就像我最大的創新不會出現在我的 20 多歲和 30 多歲,對吧?所以我們有一些相當大的機會出現。我對我們將在今年晚些時候發布的一些東西感到興奮,但我們將在明年春天及時發布另一個版本,以趕上夏季版本和接下來的冬天。同樣,我們將繼續專注於解鎖下一代主機。
So we have some really exciting new products built to attract the next generation of host, especially individuals that want to host occasionally. We are going to continue to think of radical innovations around Airbnb becoming the ultimate host to our guests and host. We're going to continue to innovate on our search technology. And we have a lot of opportunities around helping people travel and live on Airbnb. So there's going to be some pretty exciting opportunities coming forward, and I'm pretty bullish about it. I don't know if, Dave, if there's anything you want to add to that?
因此,我們推出了一些非常令人興奮的新產品,以吸引下一代主機,尤其是偶爾想主機的個人。我們將繼續考慮圍繞 Airbnb 進行徹底的創新,成為我們客人和房東的終極房東。我們將繼續對我們的搜索技術進行創新。我們有很多機會幫助人們在 Airbnb 上旅行和生活。因此,將會有一些非常令人興奮的機會出現,我對此非常看好。我不知道,戴夫,你有什麼要補充的嗎?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
Yes. I'll just reemphasize, our priority is investing in growth. And $10 billion cash is more than we need, $8 billion is more than sufficient to aggressively invest in growth in the business. And that is our #1 priority. At the same time, we're able to both invest and grow just given the profitability profile of our business overall. So I'm proud that we can do both, but the priority for us is investment growth.
是的。我要再次強調,我們的首要任務是投資於增長。 100 億美元的現金超出了我們的需要,80 億美元足以積極投資於業務增長。這是我們的第一要務。同時,考慮到我們整體業務的盈利能力,我們既能投資又能成長。所以我很自豪我們可以兩者兼得,但我們的首要任務是投資增長。
Thomas Cauthorn White - MD & Senior Research Analyst
Thomas Cauthorn White - MD & Senior Research Analyst
Great. Maybe just one quick follow-up on FX. Over the years, I remember some of the kind of traditional OTAs talking about how maybe it's less about kind of the absolute level of one currency relative to another, but it's maybe more like the volatility of foreign exchange rates that kind of dictate customer booking behavior. Curious whether you'd say that was a similar dynamic in your business? Or just generally how to changes in FX rate, what changes impacts are you seeing kind of in terms of customer behavior?
偉大的。也許只是對 FX 的快速跟進。多年來,我記得一些傳統的 OTA 談論的可能不是一種貨幣相對於另一種貨幣的絕對水平,而更像是決定客戶預訂行為的外匯匯率波動.想知道您是否會說這在您的業務中也有類似的動態?或者只是一般來說如何改變外匯匯率,您看到哪些變化對客戶行為產生了影響?
David Stephenson - Interim Head of Global Employee Experience & CFO
David Stephenson - Interim Head of Global Employee Experience & CFO
I think the biggest impact you see with FX is in the cross-border travel, obviously, right? A strengthening dollar gives you the ability for Americans to travel abroad, specifically right now, probably Europe and to the U.K., and a weakening euro and pound makes it more difficult for them to kind of travel back. But again, if you look at Airbnb, the fact is that people adjust their travel to meet their overall kind of budgets.
我認為您對 FX 的最大影響顯然是跨境旅行,對吧?美元走強使美國人有能力出國旅行,特別是現在,可能是歐洲和英國,而歐元和英鎊走弱使他們更難回國旅行。但同樣,如果你看看 Airbnb,事實是人們會調整他們的旅行以滿足他們的整體預算。
And as we saw in COVID, people are more willing to -- maybe they stay domestically if their budget doesn't allow the cross-border traveler. Maybe they stay domestically if they don't feel like they can afford the cost of airline travel. So the FX impact from a consumer standpoint is usually this kind of cross-border impact.
正如我們在 COVID 中看到的那樣,人們更願意——如果他們的預算不允許跨境旅行者,他們可能會留在國內。如果他們覺得自己負擔不起航空旅行的費用,他們可能會留在國內。因此,從消費者的角度來看,外匯影響通常是這種跨境影響。
And then to our overall business, we're just seeing that as we generate nights stayed in euro and pounds and then we bring them back to the U.S. and into the U.S. dollar, we're just seeing the headwind of foreign exchange, which was -- which is material in Q1, it was 600 basis points of revenue growth driven by the FX move. So I'd anticipate Q3 probably be something less than that to our overall P&L.
然後對於我們的整體業務,我們只是看到,當我們產生以歐元和英鎊計價的住宿夜數,然後我們將它們帶回美國並兌換成美元時,我們只是看到了外彙的逆風,這是- 這在第一季度很重要,這是由外匯走勢推動的 600 個基點的收入增長。所以我預計第三季度可能會比我們的整體損益少一些。
Operator
Operator
That will conclude our question-and-answer session for today. I'll hand it over to Brian Chesky for any closing remarks.
今天的問答環節到此結束。我將把它交給 Brian Chesky 做任何結束語。
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
Brian Chesky - Co-Founder, CEO, Head of Community & Chairman of the Board
All right. Well, thank you, everyone, for joining us today. So I just want to say I'm incredibly proud of what we've delivered this quarter. Record Nights and Experiences Booked, we had our most profitable Q2, and we generated $795 million of free cash flow, bringing our total free cash flow over the last 12 months to nearly $3 billion. This transformation of our business was only possible because of our adaptable model and a relentless innovation.
好的。好吧,謝謝大家今天加入我們。所以我只想說,我為我們本季度交付的成果感到無比自豪。預訂了創紀錄的住宿和體驗,我們的第二季度利潤最高,我們產生了 7.95 億美元的自由現金流,使過去 12 個月的總自由現金流達到近 30 億美元。由於我們適應性強的模式和不懈的創新,我們的業務轉型成為可能。
And regardless of economic environment, we believe guests will continue to come to Airbnb because they can find great value and hosts can earn extra income. Airbnb is ready for whatever lies ahead, and we're so confident in our long-term growth and profitability that today, we're announcing a $2 billion share repurchase program. So thank you all for joining us today, and I'll see you next quarter.
無論經濟環境如何,我們相信房客會繼續來到愛彼迎,因為他們可以找到巨大的價值,房東可以獲得額外的收入。 Airbnb 已經為未來的一切做好了準備,我們對我們的長期增長和盈利能力充滿信心,以至於今天,我們宣布了一項 20 億美元的股票回購計劃。感謝大家今天加入我們,我們下個季度再見。
Operator
Operator
Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.
女士們,先生們,今天的電話會議到此結束。感謝您的參與。您現在可以斷開連接。