Airbnb Gaining Ground in Booming Alternative Accommodation Market
The former Airbnb employee discussed the current state of the alternative accommodation market, and estimated it now represents 20%-30% of the hotel sector market. This 20%-30% is dominated by a three-way race between Expedia, Booking.com and Airbnb. The specialist discussed how he believes this race will pan out over the next three to five years: he predicted that Airbnb would be the likely victor but that he is “scared” about the entry of other internet giants into the sector.
Airbnb is making a dent in the hotel space through its HotelTonight acquisition. Given this, our specialist explained that the company’s success lies in being a one-stop shop for room experiences, and in its ability to create tailored offerings. This statement drove him to look at a number of the firm’s niche but ever-growing products such as “bleisure”, a mix of business and leisure travel, and “staycations”, which includes off-the-beaten-path accommodations like tents and castles.
In addition, the Interview looked into how China and India fit into the company’s growth plans, and how penetrating the lucrative flights sector may play out. The specialist also pondered whether this might include a possible investment or acquisition.
This Interview is very timely as he also offered his thoughts on Airbnb’s planned IPO including timeframes, obstacles and valuations.
To access all the human insights from Third Bridge’s Airbnb – Vertical Expansion & Growth Trajectory Interview, click below to view the full transcript.
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