Airbnb Inc Ordinary Shares - Class A
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$938.00 | Hbbdddj | Zmsvtxrh |
Airbnb's Platform Advantage Intact Amid 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 92 markets versus 23 for Expedia and 134 for Booking Holdings, according to App Annie on Oct. 30, 2023. Further, we expect some durability in remote working to enhance long-term travel demand.