FILE PHOTO: Small toy figures are seen in front of diplayed Airbnb logo in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) – Home rental firm Airbnb Inc said on Tuesday it recorded more than 1 million bookings globally on July 8, offering an early sign of recovery after a slowdown in reservations during the COVID-19 pandemic.

A major part of the bookings are for trips that will start on or before Aug. 7, the company said, adding it hit the 1 million mark for the first time since March 3.

Airbnb said it was partly due to pent-up demand, with affordable and closer destinations making up for the bulk. (bit.ly/2Cb4d10)

The home rental firm has been reeling under weak demand as millions of tourists canceled their vacation plans, work trips and family visits due to the pandemic, prompting it to suspend marketing activities for the year and cut about 25% of its workforce.

(This story corrects syntax in headline)

Reporting by Neha Malara; Editing by Arun Koyyur

Via Reuters Finance

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