Post by High Priestess on Jan 7, 2017 17:13:58 GMT
Still privately owned and valued at $30 billion, Airbnb is now the second-most valuable lodging company, according to a report from Macquarie Research. But most importantly, it has the largest amount of accommodations, with more than 3.1 million rooms.
It’s a staggering number. The next-biggest lodging company by room count, and most valuable at $32 billion, is Marriott (MAR), with just 1.1 million—two-thirds less. It’s no secret why: As a tech company, Airbnb serves as middleman for people with open rooms, making the supply of rooms seemingly infinite. For the company’s aggressive revenue goals, it’s also an auspicious strategy because there are two customers being served: the room providers and the guests. Airbnb is hoping to reach $10 billion in revenue by 2020.
It’s a staggering number. The next-biggest lodging company by room count, and most valuable at $32 billion, is Marriott (MAR), with just 1.1 million—two-thirds less. It’s no secret why: As a tech company, Airbnb serves as middleman for people with open rooms, making the supply of rooms seemingly infinite. For the company’s aggressive revenue goals, it’s also an auspicious strategy because there are two customers being served: the room providers and the guests. Airbnb is hoping to reach $10 billion in revenue by 2020.
finance.yahoo.com/news/airbnb-dwarfs-hotels-in-room-availability-162135372.html?soc_src=social-sh&soc_trk=fb
Survey data shows the biggest target is on the backs of midscale hotels. Around 43% of Airbnb guests would have chosen midscale hotels, compared to just 4% that would have chosen an upscale hotel, and economy hotels, which were replaced by Airbnb’s 18% of the time. Similarly, Airbnb cannibalizes extended stay options more, perhaps owing to the fact that a full lodging with a kitchen has a leg up on a hotel room’s mini fridge
