Airbnb highlights growth in family trips business
JohnnyGreig
Airbnb (NASDAQ:ABNB) updated on Thursday on the growth of its family trip business.
The company said family trips booked on Airbnb (ABNB) during the first half of 2023 increased nearly 10% compared to the same period last year. Families booked trips to more than 13K destinations over the six-month period.
The majority of families book a two- or three-bedroom listing while traveling on Airbnb (ABNB). "While there are tried and true family destinations on the list such as Gulf Shores, AL, Traverse City, MI and Pigeon Forge, TN â we also find some big cities such as Saint Paul, MN, Baltimore, MD and Cincinnati, OH on the list," noted Airbnb (ABNB). The company thinks the diverse representation of destinations illustrates that its platform allows families to travel nearly anywhere.
The selling features highlighted by Airbnb (ABNB) for families, included that the platform can provide a summer home away from home with a diverse array of listings, accommodations, views and experiences. The contrast was made between higher-priced adjoining hotel room options and the value-oriented ABNB option. "Globally, families can get an Airbnb with two bedrooms and two bathrooms for approximately the price of one hotel room at certain major chains," noted the company. It was also noted that one-third of Airbnb listings in the U.S. have three bedrooms or more and nearly 10% of U.S. listings have cribs for small children. The Airbnb (ABNB) was also noted to be more pet-friendly and lead to better sleep for vacationers.
Shares of Airbnb (ABNB) have cooled off over the last six weeks, with an 11.4% decline amid concerns about consumer discretionary spending and higher interest rates impacting valuation. The Seeking Alpha Quant Rating is at Hold, due largely to a low grade for valuation.

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