Airbnb Could Be Worth More Than Any Hotel Company
Photo Credit: An Airbnb Plus listing in Barcelona. A new report from Morningstar suggests Airbnb may have a valuation worth more than the world's largest hotel company. Airbnb
Skift Take
The battle between Airbnb and Booking (and everyone else in online travel) is just beginning.
It's already been established that homesharing giant Airbnb doesn't need to go public anytime soon. But if it did, Airbnb may likely have a market capitalization larger than any hotel company — and be on par with some of the biggest online travel agencies.
That's just one of the findings from a new report, "Airbnb's Network Effect Offers Investors a Unique Stay," from Morningstar Equity Research. Morningstar analysts used two different methods — one looking at exit multiples and another comparing Airbnb to its competitive peer set — to determine the company's valuation.
Morningstar found that Airbnb may well have a market cap that ranges anywhere from $53 billion to $65 billion, which would mark the first time Airbnb's valuation would surpass the world's largest hotel company, Marriott International, with its market cap of $46 billion.
"The valuation we're getting to is worth a decent amount more than its last funding round of $31 billion from 2017," said Dan Wasiolek,
