(Reuters) – Airbnb Inc, a vacation rental company, projected its second quarter revenue higher than market estimates Tuesday. It is betting that the increased demand will drive a stronger summer season following global COVID-19 restrictions.

According to Refinitiv data, the San Francisco-based company expects revenues between $2.03 billion & $2.13 billion. This is in contrast with an average analyst estimate of $1.96 trillion.

Hybrid working is on the rise and has caused people to travel further afield in recent months. It also gives rental agencies a boost.

Airbnb made many changes last year in order to benefit from the recovery in travel. It reported the largest growth rate for nights booked in nonurban areas over the first three month of 2022.

According to the company, “Q1 long-term stays lasting 28 days or longer remained our fastest-growing trip type compared to 2019”

Due to international travel returning, gross nights booked in urban areas saw strong growth. The first-ever record for nights and experiences bookings exceeded 100 million.

This, along with 37% more average daily rates than 2019, drove Airbnb’s revenue to 70% higher than a year ago.

Travel websites online Expedia (NASDAQ: ) Group Inc., Trivago NV posted larger quarterly revenues Monday because demand has returned to pre-pandemic levels.

Airbnb had a lower net loss, $18.8million or 3 cents per shares, than the $1.17 billion loss or $1.95 each share a year prior.