Quote (Bazi @ Aug 17 2024 04:08pm)
They are used for different purposes
If I’m at a conference for a day or 2 I’m getting a hotel
If I’m going on a week Long lake vacation with family +/- friends , I’m finding a good airbnb. Ability to cook and do laundry is invaluable
Just because you personally use airbnb for a niche purpose, doesn't mean airbnb isn't in direct competition with hotels in other demographics.
Airbnb have a competitive advantage when it comes to big groups or places in the arse end of nowhere, which serves a fraction of the overall market. The point is, it's not a compelling case for the stock.