Airbnb Is Focused On Its International Expansion And AI-Enhancements
Airbnb also mentioned its progress on making pricing more transparent as cleaning feels often killed the buzz of its deals. Upon its earnings release, Airbnb stated that almost 40% of active listings no longer charge cleaning fees as almost 300,000 listings have removed or lowered them.
Airbnb guided for current quarter revenue between $2.03 billion and $2.07 billion, topping FactSet’s estimate of $2.02 billion.
Marriott And Hilton Continue To Grow But They Are Not Threatening Airbnb
Marriott reported its quarterly profit rose almost 27% to $848 million but its stock tanked 4.9% on Tuesday upon its latest report as revenue that rose to $6.1 billion came short of estimates, despite having recovered to exceed pre-COVID-19 levels from 2019, before the pandemic halted travel.
However, when it comes to their vacation rental businesses, Hilton avoided the alternative accommodations segment and Marriott didn’t need to materially report the figures in its 10-K due to a negligible amount of revenue and earnings. However, Marriott did comment it is encountering strong competition in the short-term lodging market, acknowledging the threat from Airbnb.
Airbnb continues to be a threat in Marriott's and Hilton's shoes and for now, it isn't threatened by their short-term lodging offerings. But only time will show if Airbnb will succeed to realize its ambitious international and AI-empowered goals.
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