Airbnb’s “entire trip” strategy still lacks the scale to compete

Without acquisitions, expansion into hotels, experiences, and transport may take years

Airbnb has been increasingly vocal about its ambition to become a platform where travelers can plan and book an entire trip — not just a place to stay. The company has outlined plans to expand into hotels, experiences, services, and transportation as part of a broader travel ecosystem. However, the scale required to compete with established travel platforms remains far from reality. Without meaningful acquisitions, Airbnb’s expansion into these categories may take many years to reach meaningful scale.

Key takeaways

• Entire-trip vision: Airbnb leadership has reiterated a strategy to evolve beyond short-term rentals into a broader travel platform that includes hotels, experiences, services, and transportation.
• Growth momentum slowing: Airbnb’s growth has gradually decelerated over the past four years, falling from around 40% in 2022 to roughly 10% in 2025, increasing pressure to identify new growth engines.
• Share buybacks dominate spending: Since 2022, Airbnb has spent roughly $10.9 billion buying back its own shares, while spending almost nothing on acquisitions that could expand its travel supply.
• Limited hotel expansion: Airbnb has begun testing hotel partnerships in selected markets, but hotels still represent only a small share of total nights booked on the platform.
• Experiences remain marginal: Despite investment in onboarding hosts and developing supply, Airbnb’s experiences and services categories still represent only a minimal share of overall bookings.
• Transportation still in testing: Ground transportation offerings are currently limited and remain in experimental phases outside North America.
• Organic growth may take years: Building large-scale supply in hotels, tours, and transport through organic development alone could take years, particularly when competitors already control extensive global inventories.
• Strategic timing matters: As AI-powered travel assistants begin to influence how travelers plan and book trips, platforms that already control broad travel supply may have a competitive advantage over those still building inventory.

Source: Skift

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