Airbnb Has Its First Profitable Year
Skift Take
- Airbnb definitely got a better response from investors on their 4Q earnings report than traditional lodging analysts.
- Choice Hotels continued the parade with 4Q revenue and EBITDA comfortably above estimates with the Radisson acquisition helping with that.
- STR reported U.S. lodging data for the week ended 2/11. RevPAR was up 18.9% year over year.
The DJIA rose 39 points, Nasdaq was up 110, the S&P 500 rose 11 points and the 10-year treasury yield continued the march to 4%, up another .05 to 3.81%. Lodging stocks were somewhat mixed, but the gainers got all the attention. They were paced by a 13% rise for Airbnb and 9% gains for Vacasa and Sonder. Membership Collective (Soho House) was the only loser of note, down -5% on the day.
Airbnb definitely got a better response from investors on their 4Q earnings report than traditional lodging analysts. The main takeaway everyone agreed on is that ABNB’s results, along with Marriott and Hilton’s, showed the demand has not slowed down like so many warned it would halfway through 2022. The debate is whether ABNB has its own niche and that crowd is growing or this is a reaction to some revolting against higher ADRs in the hotel space. The main thing was that 4Q EBITDA was way higher than expected a
