Shares of Airbnb plunged 16% in pre-conference trading, as the company’s management announced that estimates for the third quarter of the year were lower than analysts’ forecasts, citing a slowdown in demand in the US and smaller “booking windows”. .

Travel within America have been declining since the beginning of the yearas more Americans become more cautious about their travel spending amid concerns about the economy.

Thus, after Booking and Airbnb warns that the time between booking and the arrival of travelers at their destination has been significantly reduced. This “shorter booking window” suggests that travelers are booking at the last minute due to increased uncertainty and wariness of spending.

Jefferies analysts characterized Airbnb management estimates “disappointing”adding that taking into account Booking’s statements “they are likely to contribute to intensifying concerns about a slowdown in growth.”

According to Jefferies, Airbnb’s outlook for Q3 suggests a 6%-8% year-over-year increase in daily nights, recording slowdown compared to 8.7% in the second quarter.

Analysts at Baird Equity Research stated that remain “neutral” on Airbnb stock as there is more evidence that travelers are cutting back on trips, or else delaying travel planning.