Airbnb Inc., in a long-awaited filing for an initial public offering, outlined widening losses and plunging revenue while projecting optimism for a rebound in demand for home-sharing when the economy eventually recovers from the pandemic.

The listing is set to be one of the biggest this year, capping an IPO surge that has largely defied the economic devastation inflicted by the coronavirus pandemic.

The company’s filing Monday confirms the damage it suffered as the pandemic wreaked havoc on the travel industry. Its gross booking value for the nine months ended Sept. 30 tumbled to US$18 billion ($24.22 billion), down almost 40% from the same period last year, it said.

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