Airbnb now among the world’s biggest online travel brands
Sunday, 23 Aug, 2016
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As if it wasn’t already plainly obvious, the rapid ascent of Airbnb will see it become one of the world’s largest online travel companies by the end of the year.
Travel industry research firm Phocuswright estimates Airbnb’s gross bookings were up to $7.5 billion by the end of 2015.
Phocuswright predicts the San Francisco based home sharing platform will trail only Expedia, Priceline and China’s Ctrip for annual gross booking value.
It found one in three US travelers stayed in an Airbnb home last year, more than triple the number just four years ago.
"Airbnb has played a pretty big role in making alternative accommodations mainstream," Douglas Quinby, vice president of research at Phocuswright told Travel + Leisure.
"Travelers are now looking for the right place to stay in the best location that fits the bill, which might not necessarily be a home, hotel, or hostel."
It secured another $1 billion debt facility recently, according to Bloomberg, as it expands services beyond its core business to include features such as restaurant reviews, general trip planning, activities and tours.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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