Data: Edison Trends; Note: Indexed to 100 = highest weekly spend at Marriott; Chart: Danielle Alberti/Axios

Airbnb filed to go public last month, a seemingly strange move for a company that was forced to lay off a quarter of its workforce in May.

Why it matters: Airbnb looks as though it's vastly outperforming expectations from this spring.

The big picture: While the hotel industry is still in terrible shape and asking for a federal bailout, Airbnb looks as though it has become one of the more improbable winners from the coronavirus pandemic.

  • Vacationers prefer homes they can have to themselves over buildings that they have to share with other people.
  • People working remotely have realized that if they can work from anywhere, they might as well work from somewhere beautiful.

By the numbers: Estimates from Edison Trends show Marriott and other hotel chains seeing much lower spending than at this time last year. At Airbnb, by contrast, spending is hitting new all-time highs.

  • Airbnb spending is running a whopping 75% higher than this time last year, says the research shop, based on a panel of spending data including more than 65,000 Airbnb transactions.
  • That means Airbnb's revenues have comfortably surpassed Marriott's, for the first time.

The bottom line: Airbnb's pandemic boost won't last forever. But if nervousness about sharing enclosed spaces persists, and if remote work becomes more broadly accepted, both will be good news for the startup.

Go deeper

Erica Pandey, author of @Work
Sep 22, 2020 - Economy & Business

Remote work won't kill your office

Illustration: Eniola Odetunde/Axios

We can officially declare the 9-to-5, five-days-a-week, in-office way of working dead. But offices themselves aren't dead. And neither are cities.

The big picture: Since the onset of pandemic-induced telework, companies have oscillated between can't-wait-to-go-back and work-from-home-forever. Now, it's becoming increasingly clear that the future of work will land somewhere in the middle — a remote/in-person hybrid.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 a.m. ET: 33,282,969 — Total deaths: 1,000,867 — Total recoveries: 23,066,203Map.
  2. U.S.: Total confirmed cases as of 12 a.m. ET: 7,148,009 — Total deaths: 205,069 — Total recoveries: 2,794,608 — Total tests: 102,342,416Map.
  3. Business: Companies are still holding back earnings guidance.
  4. Health: Trump announces plan to distribute 150 million rapid tests —The childless vaccine.
  5. Media: Fauci: Some of what Fox News reports about COVID-19 is "outlandish"
  6. States: Cuomo extends New York moratorium on evictions until 2021.
  7. World: More than 1 million people have now died from coronavirus — India the second country after U.S. to hit 6 million cases.

Bob Woodward: "I was not going to hide" my opinion on Trump

Bob Woodward didn't want to join Senate Republicans in privately condemning President Trump but declining to do so publicly, he told Jonathan Swan in an interview for "Axios on HBO."

Why it matters: Woodward has covered 9 presidents, but Trump is the first that Woodward explicitly described as "the wrong man for the job."