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Airbnb, Inc. operates a global platform that connects hosts and guests to book unique stays and experiences worldwide. The company's marketplace model facilitates these connections online or through mobile devices, allowing hosts to offer spaces and experiences that enable guests to engage with communities authentically . Airbnb's primary revenue source is service fees charged to customers for stays and experiences booked on its platform. These fees are calculated as a percentage of the booking value, excluding taxes, and vary based on factors such as booking value, duration, geography, and host type . In 2023, Airbnb reported a revenue of $9.9 billion, marking an 18% increase from the previous year, primarily driven by a 14% increase in Nights and Experiences Booked and higher average daily rates .
- Stays - Facilitates the booking of accommodations worldwide, allowing hosts to offer unique spaces for guests to stay.
- Experiences - Offers a platform for booking activities and experiences that enable guests to engage with local communities and cultures.
- Given that you removed over 300,000 listings last year to improve quality, reducing supply growth, how do you plan to achieve sufficient supply growth to meet rising demand without compromising on quality, especially in markets where supply is already constrained?
- With your core markets comprising about 75% of your gross booking value and expansion markets only about 15% of the remainder, what specific strategies are you implementing to accelerate growth in these new regions, and how will you overcome challenges like local regulations, cultural differences, and competition?
- As you plan to aggressively launch new services in over 100 cities next year, how are you managing the risks associated with such a broad rollout, and what measures are in place to ensure these new offerings achieve both scale and profitability without significant additional investments?
- Given the anticipated margin compression in Q4 due to increased investments in product development and marketing, how do you plan to balance the need for growth with maintaining profitability, and what are your EBITDA margin targets for the coming years as you expand into new markets and services?
- Despite initiatives like the Cohost network to make hosting mainstream, how do you address the potential limitations in attracting new hosts who lack time or resources, and what strategies are in place to ensure the Cohost network can unlock millions of new listings without sacrificing host quality and guest experience?
Competitors mentioned in the company's latest 10K filing.
- Online travel agencies (OTAs), such as Booking Holdings (including the brands Booking.com, KAYAK, Priceline.com, and Agoda.com)
- Expedia Group (including the brands Expedia, Vrbo, HomeAway, Hotels.com, Orbitz, and Travelocity)
- Trip.com Group (including the brands Ctrip.com, Trip.com, Qunar, Tongcheng-eLong, and SkyScanner)
- Hopper
- Fliggy (a subsidiary of Alibaba)
- Despegar
- MakeMyTrip
- Internet search engines, such as Google, including its travel search products
- Baidu
- Listing and meta search websites, such as TripAdvisor, Trivago, Mafengwo, AllTheRooms.com, Hometogo, Holidu, and Craigslist
- Hotel chains, such as Marriott, Hilton, Accor, Wyndham, InterContinental, OYO, and Huazhu, as well as boutique hotel chains and independent hotels
- Property management companies, such as Vacasa, Sonder, Inspirato, Evolve, Awaze, and other regional property management companies
- Online platforms offering experiences, such as Viator, GetYourGuide, Klook, Traveloka, TUI Musement, and KKDay