Airbnb Inc Ordinary Shares - Class A
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$719.00 | Dsdfq | Tpwcqny |
Airbnb's Ongoing Investing Supports Its Network Advantage Amid Near-Term Economic Uncertainty
Business Strategy and Outlook
We think that Airbnb's global online travel agency, or OTA, position will strengthen 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 think this network advantage will be supported by generative artificial intelligence investment and expansion into the experiences vertical over the next several years. Also, Airbnb is positioned to benefit from the ongoing shift to mobile bookings, witnessed by Airbnb being a top-10 iPhone travel app in 793 markets versus 28 for Expedia and 153 for Booking Holdings, according to App Annie on May 3, 2023. Further, we expect some durability in remote working to enhance long-term travel demand.