Who are Airbnb’s competitors?
Airbnb names 11 companies as competitors in its latest annual report, on 4 fronts. 9 companies name Airbnb back.
Skip to the field, head to head ↓Airbnb company profile
Hotels see Airbnb as a room alternative; Airbnb sees a wider field
Marriott describes online platforms that let travelers book homes and apartments "as an alternative to hotel rooms". Hyatt, Loews and DiamondRock use similar framing. To the hotel industry, Airbnb is a substitute for one thing: a place to sleep.
Airbnb's own list is wider. It names 11 competitors across travel agencies, search engines, hotel chains and experiences platforms. Expedia Group sees the same spread: "Airbnb has expanded into tours, activities, and hotel bookings". The hotels describe where Airbnb began. Airbnb and Expedia describe where it is heading.
The gap shows in the numbers. Airbnb earned $12.2 billion in revenue, less than half of Booking's $26.9 billion or Marriott's $26.2 billion. Its net margin was 21%, against 10% at Marriott and 12% at Hilton. Rivals define Airbnb by its past. Airbnb competes on a broader map.
Where Airbnb says it competes
“online travel agencies (“OTAs”), such as Booking Holdings (including the brand Booking.com), Expedia Group (including the brands Expedia and VRBO), Trip.com Group, and other regional OTAs”
“internet search engines, such as Google and those powered by AI, including its travel search products”
“hotel chains, such as Marriott, Hilton, Accor, and Wyndham, as well as boutique hotel chains and independent hotels”
“online platforms offering experiences and activities, such as Viator, GetYourGuide, and Klook”
Who names Airbnb as a competitor
“In addition to competing with traditional hotels and lodging facilities, we compete with alternative lodging, including third-party providers of short-term rental properties and serviced apartments, such as Airbnb, as well as alternative meeting and event space platforms, such as Convene.”
10-K for 2025“In recent years, Airbnb has expanded into tours, activities, and hotel bookings, and discussed expansion into flight bookings, and Booking.com has expanded its flight booking services.”
10-K for 2025“Additional sources of competition include large companies that offer online travel services as part of their business model, such as Alibaba, financial services providers such as credit card issuers, search engines such as Google, and peer-to-peer inventory sources that allow travelers to book stays on websites that…”
10-K for 2025“• competition from other hotels, cruise lines and alternative accommodations, such as Airbnb, in the markets in which Loews Hotels & Co operates; • requirements for periodic capital reinvestment to maintain and upgrade hotels; • the costs and administrative burdens associated with compliance with applicable laws and…”
10-K for 2025“We encounter strong competition in the short-term lodging market from regional, national, and international chains that operate lodging properties or franchise their brands, lodging properties that are not affiliated with a chain, and online platforms, including Airbnb and Vrbo, that allow travelers to book short-te…”
10-K for 2025“In addition, the vacation ownership industry competes generally with other vacation rental options (such as hotels, resorts and condominium rentals) offered by the lodging industry as well as alternative lodging marketplaces such as Airbnb and VRBO, which offer rentals of homes and condominiums.”
10-K for 2025“Our hotels compete with other hotels and alternative lodging options such as timeshares, vacation rentals or sharing services such as Airbnb based on location, price, physical attributes, service levels, brand affiliation, and reputation, among many other factors.”
10-K for 2025“We also compete for traffic and demand generation through our direct booking channel with nationally recognized booking sites such as Airbnb, Booking.com, Vrbo, Evolve, regional booking sites, and online travel agencies, and to a lesser degree, urban rental sites such as Sonder, and niche programs such as Inspirato.”
10-K for 2024The field, from the filings
| Company | Fiscal year | Revenue | Growth | Net margin | Employees |
|---|---|---|---|---|---|
| Airbnb | 2025 | $12.2B | +10% | 21% | 8,200 |
| Alphabet (Google) | 2025 | $402.8B | +15% | 33% | 190,820 |
| Booking | 2025 | $26.9B | +13% | – | 24,300 |
| Marriott | 2025 | $26.2B | +4% | 10% | 414,000 |
| Loews | 2025 | $18.5B | +5% | 9% | 13,100 |
| Expedia Group | 2025 | $14.7B | +8% | 9% | 16,000 |
| Hilton | 2025 | $12.0B | +8% | 12% | 182,000 |
| Hyatt Hotels | 2025 | $7.1B | +7% | −1% | 50,000 |
| Marriott Vacations Worldwide | 2025 | $5.0B | +1% | −6% | – |
| DiamondRock Hospitality | 2025 | $1.1B | −1% | 9% | – |
| Sunstone Hotel Investors | 2025 | $960M | +6% | 3% | – |
Each company’s latest fiscal year as reported to the SEC, in US dollars; fiscal years end in different months. Rivals that report outside the US or in other currencies are not shown.
What the rivals have done lately
“On May 1, 2023, we completed the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V. for $ 100 million.” filing
“In 2023, we also had cash outflows of $101 million due to the City Express brand acquisition.” filing
“On September 29, 2023, Boardwalk Pipelines acquired 100 % of the equity interests of Williams Olefins Pipeline Holdco LLC (“Bayou Ethane”) from Williams Field Services Group, LLC for $ 355 million in cash, including working capital.” filing
“In April 2024, we acquired a controlling financial interest in both Sydell Hotels & Resorts, LLC and Sydell Holding Company UK Ltd (collectively, the "Sydell Group"), which owns the NoMad brand.” filing
“In April 2024, we acquired a controlling financial interest in both Sydell Hotels & Resorts, LLC and Sydell Holding Company UK Ltd (collectively, the "Sydell Group"), which owns the NoMad brand.” filing
Decisions that shaped the field
Asked about Airbnb’s competitors
Who are Airbnb's competitors?
In its annual report for fiscal 2025, Airbnb names 11 competitors across 4 fronts: online travel agencies, internet search engines, hotel chains and online experiences and activities platforms. 10-K for fiscal 2025
Which companies name Airbnb as a competitor?
9 companies in our coverage name it in their own annual reports: DiamondRock Hospitality, Expedia Group, H World Group, Hyatt Hotels, Loews, Marriott, Marriott Vacations Worldwide, Sunstone Hotel Investors and Vacasa.
How does Airbnb compare with its rivals?
Airbnb reported $12.2B in revenue in its latest fiscal year, +10% on a year, with a 21% net margin. Alphabet (Google): $402.8B, 33% net margin; Booking: $26.9B.
What are the alternatives to Airbnb?
The companies Airbnb itself names as competitors are listed above, front by front, each in its own report’s words. Which matters for a given buyer depends on the job, not the list.
What would it actually cost a challenger to take your customer?
Sources: Airbnb’s annual report for fiscal 2025 and earlier years (2022, 2023, 2024); the annual reports of the companies that name it; each company’s financial data as reported to the SEC; Stratrix Decision Records. Analysis and data, not advice.
Keep going
Tools to try
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- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
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