Airbnb, the renowned short-term rental platform, has set its sights high for the first quarter, projecting revenue figures that soar past Wall Street predictions. The optimism is fueled by a resurgence in cross-border travel and an uptick in bookings for extended stays, signaling a robust year for international travel.

The company anticipates that the reopening of global air routes and the growing appeal of destinations in Asia and Latin America will keep the momentum going, even as domestic travel in North America begins to stabilize.

Based in San Francisco, Airbnb, which earns a considerable chunk of its revenue from international markets, expects to rake in between $2.03 billion and $2.07 billion in revenue. This forecast edges out the average estimate of $2.03 billion by analysts. Following the announcement, Airbnb’s shares jumped 9% in after-hours trading, reflecting investor enthusiasm for the company’s growth prospects.

However, Airbnb has tempered expectations slightly for the growth rate of nights booked in the upcoming quarter, anticipating a slowdown from the robust expansion seen in the last quarter of 2023. During the final quarter, the platform witnessed a 12% year-over-year increase in nights and experiences booked, totaling 98.8 million, with the Asia Pacific and Latin America regions leading the charge. Bookings in China alone surged nearly 90% compared to the previous year.

The company reported a quarterly revenue of $2.20 billion, surpassing its own forecasts and highlighting a successful end to the year. The increase in average daily rates by 3% and a significant 20% jump in long-duration trip bookings contributed to this achievement.

Despite these positive indicators, Airbnb faced a quarterly net loss of $349 million, largely due to outstanding tax obligations in Italy. The company announced a settlement of $621 million with the Italian Revenue Agency covering tax years from 2017 to 2021 and cautioned that future payments for 2022 and 2023 could be substantial.