But my strength as CEO is really about expanding beyond the core. So this is where I think we’re going to be entering our sweet spot in the coming years to come.
Stephen Ju: Thank you.
Operator: We’ll move next to Bernard McTernan at Needham & Company.
Bernard McTernan: Great. Thank you for taking questions. Maybe just start just – if you could just discuss the booking trends throughout the quarter where April is up 10%, going to June plus 15%, anything that you saw that was driving that better performance throughout the quarter. And then on pricing, you mentioned the new pricing tools focused on affordability. Are we seeing the full impact of that in 3Q, or how should we expect that to trend throughout the coming quarters?
Brian Chesky: Let me start with the booking trends. What we saw was – what we shared in the letter, which is that the global booking trends increased from 10% growth year-over-year in April to 15% in June. And if you remember what we saw on Q2 was a hard comparison year-over-year, specifically driven by Europe, where there were delayed bookings in 2022 that compressed more bookings into Q2. That pressure moderated through the quarter, which is the primary reason why we’re seeing that acceleration. And interestingly, we actually saw acceleration in total [growth on both book] from Q1 to Q2 in North America. And so I think that was telling about just the strength and resiliency of the North American consumer. And we’re continuing to see that strength lead into Q3, which is why we’re forecasting further acceleration of Knight’s growth from Q2 into Q3.
We’re seeing great growth in Asia Pacific, as we called out in the letter, over 80 percent growth in APAC. And I’m really pleased with our growth in Latin America. It’s twice the size that it was pre-COVID, and it’s growing really nicely. And then in terms of the pricing tools, I think that we have seen a number of positive impacts from our pricing tools. As we talked about earlier, in North America, ADR actually being down 1 percent year-over-year when excluding the impact of mixed, it’s actually down 4%. I don’t think we’ve seen the full impact of all of those. I think we’re going to continue to improve and make the pricing tools better for our hosts. And then to make it more transparent for what the prices are that they should charge so that they know what a competitive rate is.
And I think we’ll continue to make sure that we’re providing great value, because while our prices are either moderating or even coming down, that’s in the face of other competing platforms actually increasing rates. And so I think the value gap continues to grow, which just shows the benefit of booking on Airbnb expanding.
Bernard McTernan: Great. Thanks, Dave.
Operator: We’ll go next to Jacob [indiscernible] at TD Cowen.
Unidentified Analyst: Hi, this is Jacob in for Kevin. Thanks for taking my question. We’ve been getting a lot of questions from investors on potential initiatives that Airbnb could do moving forward to increase take grade, which could maybe include letting advertisers bid on a platform. I was wondering if you could write any details there. Also, you discussed a bit in this call that you had already rolled out expansion tools in Germany and Brazil. I was wondering if you could comment on any of the results that you’re seeing so far. Thanks.
David Stephenson: Yes, I’ll start. So with regards to increasing take rate, one of the things I’ve learned, actually Dave was somebody who told me this, it’s something from Jeff Bezos at Amazon. He said that one of the things you have to do as a business leader is you have to be focused, and you have to focus on the most perishable opportunities first. And so I think that the most perishable initial opportunity Airbnb was to get focused and disciplined and really rationalize our cost base. And then when we saw a travel recovery, it was about getting market share. And I think that’s still where we’re focused on. So, advertising on the platform is a common request. Certainly, it’s a common thing I get asked on earnings calls. It is absolutely on the table.
