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

While Airbnb is surging on the stock market, its fundamental business might not be quite as healthy as I thought back in September, when an Edison Trends report showed consumers spending 86% more money with the company than they did during the same week of 2019.

Why it matters: Edison Trends strips out any transactions over a certain amount — in this case, $30,000. There are still outliers near that amount, however, — very expensive rentals for multiple months, perhaps — that can skew the aggregates. When the company went back to re-run its data with a different cohort of users, the difference between 2019 and 2020 largely disappeared.

By the numbers: Airbnb is still at or above its 2019 sales, per Edison Trends, and is roughly even with Marriott. But Marriott has a lot of upside since it's still 45% below its 2019 levels.

The bottom line: Airbnb has executed an astonishing bounce back from existential crisis to a $106 billion valuation. But a backlash might be brewing.

Subscribe here to my weekly finance newsletter, Axios Capital.

Go deeper

Airbnb blocks D.C. reservations around inauguration

Airbnb said Wednesday it is canceling existing reservations and blocking new ones in the Washington, D.C., area during inauguration week as federal officials remain on alert for potential violence.

The big picture: The home-sharing company joins several tech companies taking action in response to the attack on the Capitol last week.

Bryan Walsh, author of Future
24 mins ago - Technology

Doomsday Clock stays at 100 seconds to midnight

Robert Rosner, left, and Suzet McKinney reveal the 2021 setting of the Doomsday Clock. Photo: Bulletin of the Atomic Scientists/Thomas Gaulkin

In its annual update on Wednesday morning, scientists announced the Doomsday Clock would be kept at 100 seconds to midnight.

Why it matters: The decision to keep the clock hands steady — tied for the closest it has ever been to midnight in the clock's 74-year history — reflects a picture of progress on climate change and politics undercut by growing threats from infectious disease and disruptive technologies.

Ben Geman, author of Generate
3 hours ago - Politics & Policy

Biden to sign major climate orders, setting up clash with oil industry

Illustration: Aïda Amer/Axios

President Biden will sign new executive actions today that provide the clearest signs yet of his climate plans — elevating the issue to a national security priority and kicking off an intense battle with the oil industry.

Driving the news: One move will freeze issuance of new oil-and-gas leases on public lands and waters "to the extent possible," per a White House summary.

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