Introduction and background

6 guests check into an Airbnb listing every second.

There are over 7 million listings worldwide in over 220 countries and regions.
As of January 2020, there are over 100,000 cities with Airbnb listings

Countries and listings

The countries with the most Airbnb listings are:
• United States — 660,000 listings
• France — 485,000 listings
• Italy — 340,000 listings
• Spain — 245,000 listings
• United Kingdom — 175,000 listings
Airbnb has roughly 100,000 listings in China, where it faces stiff competition from other online
short-term rental platforms, especially Tujia.com which has more than 400,000 listings.
The top 10 destinations for inbound guests are the United States, France, Italy, Spain, the
United Kingdom, Japan (Asia), Canada, Australia, Germany, and Portugal.
The top 10 destinations of outbound guests are the United States, France, the United Kingdom,
Germany, Australia, Canada, China (Asia), Spain, Italy, and the Netherlands.
Other cities are Korea, Taiwan, Brazil, Croatia, Argentina.
The most popular cities for booking experiences are:

Tokyo, Japan (ASIA)

Paris
Osaka
New York City
London
Rome
Orlando
Miami
Sydney
 Lisbon

Trending countries by Listings for 2020

According to Airbnb, the following cities are expected to be the most popular destinations in
2020, based on a year-over-year (YoY) increase in booking percentages. Popularity often
coincides with major national or international events, festivals, and gatherings.

 Milwaukee, WI, US- 729% YoY increase

 Bilbao, Spain- 402% YoY increase
 Buriram, Thailand- 383% YoY increase ASIA
 Sunbury, Victoria, Australia- 356% YoY increase
 Romania- 298% YoY increase
 Xi’an, China- 255% YoY increase ASIA
 Eugene, OR, US- 213% YoY increase
 Luxembourg- 167% YoY increase
 Guadalajara, Mexico- 158% YoY increase
 Vanuatu- 140% YoY increase
 Cali, Colombia- 137% YoY increase
 Cape Canaveral, FL, US- 136% YoY increase
 Aberdeen, Scotland- 119% YoY increase
 Courtenay, BC, Canada- 114% YoY increase
 Ubatuba, Brazil- 108% YoY increase
 Les Contamines-Montjoie, France- 108% YoY increase
 Tokyo, Japan- 103% YoY increase ASIA
 Kerala, India- 95% YoY increase ASIA
 Malindi, Kenya- 88% YoY increase
 Maastricht, Netherlands- 55% YoY increase

Airbnb Corporate Statistics

 34 offices worldwide
 Users spend an average of 11 minutes and 31 seconds on the Airbnb app.
 The company has 716,000 Twitter followers and tweets an average of 10x/day
 14,384 employees
 Popular jobs include software engineer, full-stack developer, data scientist
 1000 employees surveyed gave Airbnb 3.8 out of 5 stars when scoring career
opportunities, salary/benefits, management, culture/values, and work/life balance.
 Only 12.3% of Airbnb’s US-based employees are from underrepresented populations
 75% of Airbnb employees felt their pay was fair
  400,000 companies directly engage with Airbnb to manage travel
1. Average stay with Airbnb for work is 5 days but short trips are increasingly
popular
2. Airbnb for Work also offers team-building experiences, offsite locations for
meetings and relocations
 Top competitors:
1. Expedia Group
2. HomeAway
3. Booking Holdings (formerly Priceline)
4. VRBO
5. Trivago
6. Booking.com

Spaces
Over Airbnb’s lifetime, there have been:

 570,000+ Guest arrivals in boats

 300,000+ Guest arrivals in RVs
 140,000+ Guest arrivals in yurts
 130,000+ Guest arrivals at treehouses
  120,000+ Guest arrivals in castles

The Airbnb Plus Program

 Launched in February 2018 for exceptional in-person verified properties:
1. Hosts must have min. 4.8 rating and 95% acceptance rate for booking rates in the
prior 12 months
2. Must be “Entire Home” listing or private bedroom with its own bathroom
3. 100-point inspection
 Plus, homes are available in 41 cities around the world, twice as many since launch
 Plus, homes earn up to 400% more than standard listings
 Plus, home listings are more likely to be seen by guests
 As of February 2020, there are over 26,000 Plus listings
 Creature comforts are important:
1. 43% of guests indicate functionality is their top valued amenity
2. 58% of millennials indicate social media worthiness is a major factor in booking
decisions
3. 59% of US guests, 46% of Australian guests and 39% of Italian guests value air
conditioning over wi-fi
4. Guests from the US, Australian and Canadian tend to value free parking over a pool
5. 29% of travelers.

Airbnb vs. Hotels

 Hotels such as Marriot International are adding home-rental offerings to their
portfolios
 Over 50% of Airbnb users in 2016 used Airbnb to replace a traditional hotel stay.
 In Europe, Airbnb is anywhere from 8% to 17% cheaper than a regional hotel’s
average daily rate.
 In some U.S. markets, Airbnb can be 6% to 17% cheaper than hotels in those markets.
 The hotel industry loses approximately $450 million in direct revenues per year to
AirBnb

Changes in Home-Sharing Trends

Hosts and commercial operators listing multiple properties for rent represent one of Airbnb’s
fastest-growing segments.

 Hosts with 10 or more properties generate a quarter of all multi-host revenue

 81% of Airbnb’s revenue ($4.6 billion) in 2017 comes from whole-unit rentals where
owner is not present during the guest’s stay
  In most markets except those where cities are enacting strict regulations, the
percentage of revenue growth for whole-unit rentals has increased by an average of
76% each year
Legal Considerations
In 2019, Airbnb became heavily regulated, restricted, or made illegal altogether in many cities
where it previously had very high numbers of listings and bookings:
Due to increasing regulations, growth is slow or not occurring at all in some of Airbnb’s former
top cities:
1. Between 2017 and 2019, listings in New York City fell 7.1% and listings in San Francisco
fell 16.7%
2. In 2020, less than 3% of all active listings were in the top 3: New York City, London, and
Paris
For 2020 we’ve looked at revenue growth, investment potential, regulation, and seasonal
demand. If we were buying vacation properties, here’s where we’d spend our money:

Europe is a hot market and the money made on vacation rentals there is impressive, even in
heavily regulated areas.
Revenue Trends and market trends for last 3 years
Yearly revenue in 2018 was $3.6 billion worldwide
Latin America has the fastest growing market for Airbnb with 54% growth rate followed by Asia-
Pacific at 52%.
The two fastest-growing regions for tourist arrivals in 2018 were the Middle East (+10% growth)
and Africa (+7% growth).

Airbnb’s yearly revenue in 2018 was $3.6 billion, increase of 38% from 2017

Airbnb’s yearly revenue in 2017 was $2.6 billion, increase of 73% from 2016

In Q2 of 2019, Airbnb reported that it had made more than $1 Billion in revenue. Taking their
gross revenue numbers for Q2 and multiplying it by their known composite fee structure, they
get close to $1.2 billion, which makes sense. It’s only the second time in the company’s history
that they have reported quarterly revenues in excess of $1 billion, the last time being in 2018.
Global Economic Impact of revenue growth and host income

 In 2018, the Countries from USA, Europe, and Asia that saw a direct economic impact
from Airbnb
Airbnb in USA has biggest impact in economy with worth of $33.8 billion, UK has $5.6 Billion
impact on economy,
while Asian countries have following worth:
Japan $3.5 billion, China, $2.3 billion, Korea $1.2 billion, Thailand $1.1 billion, Croatia $910
million, Malaysia $734 million, Argentina $664 million, Indonesia, $593 million.

Following is the Data of all countries in which Airbnb is operating

With annual income/revenue and Number of listings of each country. The below tables are self-
explanatory.
 1. Guests spent approximately $25 billion at restaurants and cafes in 2018
2. 84% of hosts recommend local restaurants and cafes to guests
3. 42% of guests indicate they spend primarily in the neighborhood where they are
staying
 The Airbnb platform has resulted in an increase of guest arrivals to the least visited
destinations in the world between 2016 and 2018:
1. Moldova (increase of 190%)
2. Vanatu (increase of 187%
 3. New Caledonia (an increase of 175%)
 In 2016, Airbnb supported 730,000 annual jobs
1. 130,000 in the U.S.
2. 600,000 outside the U.S.
A. 170,000 in Asia
B. 260,000 in Europe
C. 10,000 in Oceania
D. 50,000 in North America/Caribbean (non-U.S.)
E. 100,000 in South America
Airbnb’s value worldwide is $38 billion

The most recent valuation occurred in April of 2019 and the Airbnb value was deemed to be
worth nearly $40 billion.

Following is the Gross revenues by region of Quarter 2, year 2019. In this figure North America
and Europe has highest revenue 36% and 39% respectively in 2019. While Asia-pacific has 17%
revenues and Latin America has revenue of 5%. Other regions had 2% revenues in 2019.
While year-on-year Q2 revenues in 2019 and 2018, Latin America takes the crown with growth
of 54%, then Asia-Pacific at 52%, followed by North America at an impressive 48% and Europe
coming last at 26%.
In 2018, Airbnb’s workforce was 52.5% male and 47.6%, female
In 2018, engineers working at Airbnb were 77.9% male and 22.1%, female
In December 2019, 10.4 million guests stayed in an Airbnb for the holidays:

 2,574 stayed in castles, 1031 stayed in treehouses, and 121 in windmills

On any given night, 2 million people are staying in Airbnb rentals across the world.
Airbnb’s main website saw 91 million visits in January 2020 with 50% of traffic through mobile
devices
In 2018, Airbnb listings constituted 5.5% of the total demand for lodging in the U.S
As of 2019, there are over 40,000 Airbnb Experiences worldwide
Important factors in booking an Airbnb Experience:
1. 94% of guests wanted the security of paying over Airbnb
2. 96% of guests are seeking an authentic experience in their locale
3. 69% of travelers would prefer to spend more money on better activities than
hotel rooms
4. 65% want to experience something new vs. relax on vacation
Experience hosts earn an average of $10,000 per year with top-earning Experience hosts
earning $800,000 a year.
Users over the past years
• 54% of Airbnb guests are female
• 46% of Airbnb guests are male
• In 2018, 58% of hosts and booking guests worldwide were millennials
• 22% of Hosts indicated they chose to host after first being an Airbnb guest
• The fastest-growing host demographic is seniors, with over 400,000 senior hosts:
1. Senior women are consistently rated as the best hosts on Airbnb
• Women constitute 56% of hosts and have earned $32 billion since the company began
in 2008
a. Women in Iceland earn an average income of $10,200 hosting on the platform
b. In 2018, women in the United States made $4 billion hosting on the platform
c. In 2018, women in France made over $1 billion hosting on the platform
• The share of users by age group in 2017 was as follows:
1. 36% of guests are between age 25-34
2. 23% are between ages 35-44
3. 15% are between 18 and 24
4. 14% are between 45 and 54
5. 7% are between 55 and 64
6. 5% are 65 or older
• When guests were asked why they chose Airbnb:
a. 95% wanted ease and security of payment not found on a lot of other short-term
rental platforms
b. 86% said the location was more convenient
c. 77% wanted to live like a local
d. 64% feel home-sharing is a better way to take care of the environment

AirBnB trends in Asia

China and India
During the week of January 5 to 11, 2020, there were over 40.5 thousand Airbnb bookings in
Beijing. Comparatively, less than two months later, during the week of March 1 to 7, 2020, the
number of Airbnb bookings in Beijing dropped to approximately 1.65 thousand.
According to this figure, Airbnb is more successful in china and has greater impact on economy
as compared to India. Growth in inbound guest arrivals in 2018 is 131% in China and 65% in
India while Outbound Airbnb Guest arrival growth in China is 80% and 65% India. Growth in
listings is 52% in India and 106% in China. That means Airbnb is more successful in China.

Airbnb has crossed one million listings across Asia-Pacific, and more than 100 million guests
have checked into an Airbnb in the region, providing hosts with earnings of around $10 billion.
Domestic travel has increased dramatically in recent years: in 2018, domestic guest arrivals on
Airbnb increased 76% in India, and over 3x in the second half of 2018 in China.
In 2018, over 40% of all guest arrivals from India were from bookings by people under 30 years
old.
Japan
Airbnb is proud to partner with Kamaishi City. Twenty-two hundred non-urban Airbnb listings in
2015 more than doubled to 5,300 in 2016.Guest arrivals more than tripled from 70,200 to
257,500. Host income nearly quadrupled, from¥666 million to ¥2.5 billion.
Majority of Japanese Airbnb hosts—53 percent—are women, and 56 percent of our hosts are men.

141% Year-over-year growth in non-urban listings

267% Year-over-year growth in guest arrivals at non-urban listings

Korea

106% Year-over-year growth in listings beyond metropolitan areas

194% Year-over-year growth in guest arrivals at non-metro listings

Airbnb hosts welcomed 180,000 guest arrivals in 2016.

Korean women make up a greater share of our non-urban hosts, at 53 percent, which is slightly higher
than the percentage of hosts in Korean cities who are women: 51 percent.

Taiwan

103% Year-over-year growth in listings beyond metropolitan areas

116% Year-over-year growth in guest arrivals at non-metro listings

Total guest arrivals at non-metro listings in Taiwan have jumped from 89,100 in 2015 to 192,400 in 2016.
Host income from non-metro listings has more than doubled, year over year, from NT$101 million in
2015 to NT$210.8 million in 2016.

Airbnb Future trends

Airbnb’s projected revenue is $8.5 billion by the end of 2020.
In preparation for an IPO in 2020 or 2021:
1. Airbnb has $3.5 billion in cash
2. $25.9 million raised in most recent funding round (Aug 2019)
3. Total funding as of March 2020 $4.8 billion, raised across 10 funding rounds
Airbnb (AIRB) expects revenue to fall to about $2.2B this year (2020) due to the COVID-19
pandemic

The scenario that Airbnb showed to investors also featured the projection of reaching $5.6B in
revenue in 2021.
The number of users is expected to double to 60.8M by 2021.

Moving trends
In just 11 years, it has grown from nothing to a $30bn firm

London, Paris, and New York have the biggest number of listings, but Airbnb accommodation is available
in Mandalay, Ulaanbaatar and Brazzaville.

In London – where more than 77,000 homes are listed on Airbnb, a fourfold increase since 2015
until now.
Airbnb has moving trends towards the hotel business, partnering a New York developer to turn
commercial properties in the city into a “new category of urban lodging”.
According to Airbnb, of its three million or so global listings 6,272, including 4,225 active
rentals, are in Edinburgh. These have begun to transform the character of a small city of just
over 500,000 people.
The Airbnb phenomenon in Edinburgh has led to concerns about the erosion of sustainable
communities in the city.
As the coronavirus devastated the global travel industry, Airbnb laid off nearly 25% of its
employees, raised emergency debt funding and at least temporarily shelved its highly
anticipated IPO.
Airbnb appealed mostly to budget leisure travelers, who reflect 60 percent of the hospitality
market. In order to capture the 40 percent of business travel, Airbnb introduced Airbnb
Corporate Travel, which targets corporates who are looking for a more consistent and flexible
option for multiple people.

Note: Company didn’t disclose it projections beyond 2021

Airbnb Revenues by Cities in USA

Name Yearly Average Avg. Revenue # of
RevPAR Daily Rate Occupancy Listings
 Rate
Santa Rosa Beach $119,116 $431 55% $256,813,184 2,156
San Diego $34,281 $244 58% $320,217,504 9,341
Panama City $60,351 $264 57% $292,159,840 4,841
Beach
New York $22,269 $172 57% $741,167,296 33,282
New Orleans $34,922 $251 50% $230,661,376 6,605
Nashville $38,774 $288 56% $268,123,888 6,915
Los Angeles $25,980 $187 59% $442,019,136 17,014
Lahaina $104,805 $438 62% $297,961,184 2,843
Kissimmee $61,955 $284 60% $1,439,770,88 23,239
0
Kihei $78,311 $357 65% $290,220,704 3,706
Honolulu $42,789 $235 65% $235,383,056 5,501
Hilton Head Island $74,819 $361 53% $283,266,624 3,786
Destin $88,608 $362 56% $242,698,432 2,739
Davenport $64,064 $258 63% $605,083,648 9,445
Austin $31,222 $273 49% $246,188,256 7,885