Airbnb, Inc.

Airbnb, Inc. operates a global marketplace that connects hosts offering homes, experiences, and services with guests looking for places to stay and things to do. Founded in 2007, the company has grown from a single home-sharing idea into a platform with over 5 million hosts and more than 2.5 billion guest arrivals across over 220 countries and regions. Its core business is not owning real estate, but enabling supply and demand through software, trust-and-safety tools, payments, and brand marketing. In 2025, Airbnb expanded beyond stays with Airbnb Services and redesigned Experiences, extending the platform into a broader travel and local-services marketplace.

20,9 %

83,0 %

20,5 %

+10,3 %

1.38

1.38

— Airbnb, Inc.
%
Stays marketplace82% Listings and booking tools for homes, apartments, and other short-term accommodations.
Experiences8% Bookable activities and local experiences hosted through the platform.
Services3% Newly launched service offerings that let guests book local services through Airbnb.
Host and guest support4% AirCover, customer support, trust-and-safety, and platform protection features.
Payments and transaction services3% Payment processing, funds handling, and related transaction infrastructure.

Airbnb serves two-sided marketplace customers: hosts who list inventory and guests who book it...

  • Hostsprimary

    Individuals and property managers list homes, experiences, and services to access Airbnb demand, pricing tools, and host protections.

  • Guestsprimary

    Travelers book accommodations, experiences, and services because Airbnb offers unique inventory, convenience, and all-in pricing.

  • Professional property managerssecondary

    Operators with multiple listings use Airbnb to fill inventory, diversify demand, and reduce dependence on direct bookings.

  • Experiences and services buyersemerging

    Guests seeking activities, local guides, beauty, fitness, food, and other services use the platform for trip extension and local discovery.

Airbnb operates globally, with business activity in over 220 countries and regions and a host base spread across almost...

  • •North America is the largest revenue region and a key demand base
  • •EMEA is a major revenue contributor and had higher ADR growth
  • •Latin America is smaller but growing faster than the company average
  • •Asia Pacific remains a meaningful growth market with lower nights per booking
  • •Operations span over 220 countries and regions, increasing regulatory complexity
  • •Localized marketing and product updates are used in less mature markets

Airbnb’s strategy is to improve the core service, expand into more geographies, and broaden the platform beyond stays...

01
Improve the core platform experienceshort-term

Better pricing, quality, support, and trust features help convert guests and retain hosts in a competitive marketplace.

02
Expand internationallymedium-term

Localized product and marketing efforts can unlock demand in less mature markets and diversify revenue away from mature regions.

03
Extend beyond staysmedium-term

Services and redesigned Experiences broaden the addressable market and increase booking frequency per guest.

Airbnb’s business is exposed to two-sided marketplace dynamics: if host supply or guest demand weakens, revenue can...

high

Weakening host supply or guest demand

Revenue depends on active listings and bookings; softer travel demand or reduced host participation directly lowers marketplace activity.

Scope
Global marketplace
Materiality
high
high

Competitive disintermediation

OTAs, hotel chains, property managers, and search engines can divert traffic and bookings away from Airbnb.

Scope
Guest acquisition and booking conversion
Materiality
high
high

Regulatory and tax enforcement

Short-term rental, withholding-tax, and lodging-tax rules can increase costs, restrict operations, or create liabilities.

Scope
Italy, Europe, and other jurisdictions
Materiality
high
high

Cybersecurity and platform outages

The marketplace depends on secure, reliable systems for bookings, payments, and trust-and-safety functions.

Scope
Global IT systems and third-party providers
Materiality
high
medium

Payments compliance and funds handling

Airbnb Payments is subject to money-transmitter and payment-institution rules that raise compliance and operational risk.

Scope
US, EEA, UK, Canada
Materiality
medium
Lodging taxes and other non-income tax liabilities
General and administrative expense and contingent liabilities
Payments and customer funds handling
Balance sheet presentation, compliance costs, and operational controls
Foreign currency translation and constant currency
Revenue comparability and regional trend analysis
Non-GAAP measures
Perceived profitability and cash generation

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: 11/08/2026