Airbnb Inc Ordinary Shares - Class A
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$793.00 | Xzlbp | Zsswgqrg |
Airbnb's Network Effect Driving Expanding Profits and Sales
Business Strategy and Outlook
We think that Airbnb's global online travel agency, or OTA, position will maintain over the next decade, driven by a leading alternative accommodation network (source of its narrow moat) of over 4 million hosts and cumulative 1.4 billion guest arrivals since its start in 2008 through 2022. We believe this network advantage will be supported by continued expansion into the experiences vertical over the next several years. Moreover, Airbnb is positioned to benefit from the ongoing shift to mobile bookings, witnessed by Airbnb being a top-10 iPhone travel app in 95 markets versus seven for Expedia and 120 for Booking Holdings, according to App Annie on Feb. 14, 2023. Further, we expect some durability in remote working to enhance long-term travel demand.