Airbnb tipped to worth more than Marriott and Starwood

Airbnb tipped to worth more than Marriott and Starwood

California-based Airbnb has arranged to raise US$1.5 billion (A$1.94 billion) skyrocketing its value to US$25.5 billion, a source close to the deal told AFP.

A group of American and Chinese investment funds were involved in the discussions, which are aimed at expanding Airbnb’s offerings in Asia, according to the source, AFP reports.

The funds are General Atlantic, Tiger Global Management, Kleiner Perkins Caufield & Byers, GGV Capital, Horizon Ventures and from China Hillhouse Capital Group and China Broadband.

The deal could be announced as soon as next week, the same source added.

It would be among the biggest corporate capital infusions by a tech firm, among the likes of VTC Uber ($2.8 billion), China’s online giant Alibaba ($1.6 billion) and Facebook ($1.5 billion) before it went public.

At US$25.5 billion, Airbnb, which does not own a single hotel, would be worth more than hotel giants Marriott (US$20.90 billion), Starwood (US$14 billion) and Wyndham (US$10.01 billion). Hilton Worldwide just piques the online venture, valued at US$27.7 billion.

Launched in San Francisco in 2008, the home rental company has boomed to a community of more than 35 million travellers in more than 34,000 cities. Airbnb continues to clash with local authorities in cities such as New York and Paris.

Since it is not publicly traded, Airbnb does not have to publish its figures. But its sales have surged from US$250 million to US$850 million in just two years.

It takes 3% of the transaction from the property owner, and 6-12% of the transaction from the traveller.

Latest News

  • Cruise

Viking takes delivery of its newest ship, the Viking Vela

Viking has announced it has taken delivery of its newest ocean ship, the Viking Vela, when it was presented at Fincantieri’s shipyard in Ancona, Italy. Classified as a small ship, as are all Viking ocean ships, the Viking Vela has 499 staterooms that hosts 998 guests. The ship joins the company’s growing fleet of award-winning ocean vessels and […]

  • Cruise

Celebrity Cruises sets sail from Canaveral for the first time

Celebrity Cruises has brought its premium holiday experiences to Port Canaveral, Florida, offering even more ways to escape to the Caribbean. Guests can now enjoy Caribbean escapes on Celebrity Equinox with seven-night sailings to tropical destinations including The Bahamas, St. Maarten, Puerto Rico, Belize, and more. With the addition of Port Canaveral, Celebrity Cruises now offers […]

  • Tourism

ATIA secures skilled migration win with inclusion of consultants, agency managers and tour guides

The Australian Travel Industry Association (ATIA) has secured a significant win, with the inclusion of travel consultants, travel agency managers and tour guides as eligible occupations for skilled migration on the Federal Government’s Core Skills Occupation List (CSOL). These inclusions mark a significant milestone for Australia’s travel industry. Until now, travel consultants and tour guides […]

  • Events
  • Hotels

An event producer’s take on Alma Resort – the ultimate MICE destination

The state-of-the-art Alma Resort has been rapidly gaining recognition for its world-class facilities and is now turning its focus to attract the Australian market, a key player in the global MICE (Meetings, Incentives, Conferences, and Exhibitions) sector. Rebecca Perrier reports. Nestled along Vietnam’s picturesque southern coastline, the vibrant Alma Resort in Cam Ranh stands as […]

  • Travel Agents

TravelManagers’ Danielle Goncalves on falling in love with Bali in 5 days

TravelManagers’ Danielle Goncalves can confirm that five days is more than enough time to fall in love with Bali. Goncalves was one of seven personal travel managers (PTMs) to visit the iconic destination with Hoot Holidays on their annual ‘Hoot Legends’ famil. As a longtime supporter of Hoot Holidays (a sister company to TravelManagers Australia), […]

  • News
  • Sustainability

The DARWIN200 conservation mission sails into Hobart

The DARWIN200 conservation mission aboard the Dutch tall ship Oosterschelde sailed into Hobart ahead of a programme of conservation projects. The Oosterschelde set sail from Plymouth Harbour, UK, in August 2023 on an epic two-year planetary conservation mission retracing Charles Darwin’s voyage of the Beagle and training 200 young environmentalists along the way. The aim was to inspire […]