Airbnb will become the fourth largest online travel company in the world by the end of this year, according to the travel industry research firm Phocuswright. It will only be trailing behind Expedia, Grossline and China Ctrip in terms of annual gross booking value.
This was estimated at US$7.5 billion just for Airbnb in 2015 alone. Perhaps most striking is that one in three United States (US) travellers stayed in an Airbnb home last year, which they state is “more than triple the number of just four years ago”.
Vice-president of research at Phocuswright, Douglas Quinby said that, Airbnb has played a pretty big role in making alternative accommodations mainstream and travellers are now looking for the right place to stay in the best location that fits the bill, which might not necessarily be a home, hotel or hostel.
The current market value of Airbnb at US$30 billion. As well as dramatic growth in the US, they have reported a 700 per cent increase in business from Chinese travellers.
