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Airbnb is making its rivals look relatively sluggish. Is it affordability that's kickstarting demand across regions?
Airbnb said Thursday that its revenue grew 19% in the third quarter to $4.9 billion, its fastest growth in three years, outpacing both Expedia Group and Booking Holdings.
The acceleration marks a turnaround from a year ago, when CEO Brian Chesky said at Skift Global Forum that he was “not happy” with Airbnb’s growth. Revenue rose 9.7% that quarter, and growth has accelerated almost every quarter since.
Expedia’s revenue grew 12% in the third quarter, and Booking’s fell 1%, a decline that reflected a $1 billion accounting hit related to a possible FTC settlement over allegedly deceptive practices.
Nights and seats booked, which include homes, hotels, experiences and services, grew 16%. Airbnb didn’t point to a single factor.
It said growth was “primarily driven by strong demand across all regions and continued momentum behind our product roadmap, including search and merchandising, pricing and tools, flexible payments, and sign-
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