Airbnb Sales Second Only to Marriott for Vacation Travel in 2018
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A new report from Second Measure shows that vacation travelers spent more with Airbnb than they did with Hilton, HomeAway and IHG in 2018. While the report doesn’t include business travel, it does show that Airbnb is a formidable opponent, taking more and more market share from traditional hotels.
Airbnb is also positioning itself to give platform users even more options in the future. The company recently acquired HotelTonight, a platform that allows users to book last-minute hotels at discounted prices. This move means Airbnb can increase sales in areas where traditional home inventory is low or hotel inventory is in high demand.
Despite Airbnb’s growth, some cities have tried to restrict the platform’s use. The company is currently in a legal battle with the city of New York.
Meanwhile, Wall street is expecting the company to go public within the next year. Currently valued at $31 billion, Airbnb CEO Brian Chesky has said that the 10-year-old company will offer an IPO before some employee stock grants expire in 2020, according to Bloomberg.
It remains to be seen how investors will view Airbnb’s growth alongside of the legal issues being faced by the company once the IPO is announced.
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