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鈥he effects of macroeconomic conditions, including inflation, slower |
growth or recession, higher interest rates, high unemployment and |
currency fluctuations, on the demand for travel or similar experiences; |
鈥he effects of supply constraints on availability of Host homes; |
鈥ur ability to effectively manage our exposure to fluctuations in |
foreign currency exchange rates; |
鈥he continued effects of the COVID-19 pandemic, including as a result |
of new strains or variants of the virus, as well as other highly |
infectious diseases, on our business, the travel industry, travel |
trends, and the global economy generally; |
鈥ur expectations regarding our financial performance, including our |
revenue, costs, Adjusted Earnings Before Interest, Taxes, Depreciation |
and Amortization ("BITDA", and Free Cash Flow; |
鈥ur expectations regarding future operating performance, including |
Nights and Experiences Booked, Gross Booking Value ("BV", Average Daily |
Rates ("DR", and GBV per Night and Experience Booked; |
鈥ur ability to attract and retain Hosts and guests; |
鈥ur ability to compete in our industry; |
鈥ur expectations regarding the resilience of our model, including in |
areas such as domestic travel, short-distance travel, travel outside of |
top cities, and long-term stays; |
鈥easonality, including the return of pre-COVID-19 pandemic patterns of |
seasonality, and the effects of seasonal trends on our results of |
operations; |
鈥ur expectations regarding the impact of our marketing strategy, and |
our ability to continue to attract guests and Hosts to our platform |
through direct and unpaid channels; |
鈥nticipated trends, developments, and challenges in our industry, |
business, and the highly competitive markets in which we operate; |
鈥ur ability to anticipate market needs or develop new or enhanced |
offerings and services to meet those needs; |
鈥ur ability to manage expansion into international markets and new |
businesses; |
鈥ur ability to stay in compliance with laws and regulations that |
currently apply or may become applicable to our business both in the |
United States and internationally and our expectations regarding various |
laws and restrictions that relate to our business; |
鈥ur expectations regarding our income tax liabilities, including |
anticipated increases in foreign taxes, and the adequacy of our |
reserves; |
鈥ur ability to effectively manage our growth and expand our |
infrastructure and maintain our corporate culture, and our employee |
initiatives; |
鈥ur ability to identify, recruit, and retain skilled personnel, |
including key members of senior management; |
鈥he safety, affordability, and convenience of our platform and our |
offerings; |
鈥ur ability to successfully defend litigation brought against us; |
鈥he sufficiency of our cash, cash equivalents, and investments to meet |
our liquidity needs; |
鈥ur ability to maintain, protect, and enhance our intellectual |
property; |
鈥ur ability to make required payments under our credit agreement and to |
comply with the various requirements of our indebtedness; |
鈥he impact of the ongoing military action between Russia and Ukraine on |
our business; |
鈥uman capital management, including our Live and Work Anywhere policy |
and diversity and belonging initiatives and commitments; |
鈥nvironmental, social, and governance matters, including our Net Zero |
emissions and climate-related initiatives and commitments; and |
鈥ur plan to make distributions to our Host Endowment Fund. |
We caution you that the foregoing list does not contain all of the |
forward-looking statements made in this Annual Report on Form 10-K. You |
should not rely upon forward-looking statements as predictions of future |
events. We have based the forward-looking statements contained in this |
Annual Report on Form 10-K primarily on our current expectations, |
estimates, forecasts, and projections about future events and trends |
that we believe may affect our business, results of operations, |
financial condition, and prospects. Although we believe that we have a |
reasonable basis for each forward-looking statement contained in this |
Annual Report on Form 10-K, we cannot guarantee that the future results, |
levels of activity, performance, or events and circumstances reflected |
in the forward-looking statements will be achieved or occur at all. The |