SAN FRANCISCO – After making strategic moves in recent months that included a new deal in Cuba and a groundbreaking agreement with American Express Global Business Travel (GBT), Airbnb is on track to become the world’s fourth largest online travel company by the end of 2016.
As reported by Travel Weekly, the peer-to-peer accommodations service, which doesn’t disclose bookings or revenue figures, is expected to surpass the annual bookings of European juggernaut eDreams Odigeo this year. eDreams Odigeo is comprised of five brands, including OPodo, Travelink and Go Voyages, and generated 10.7 billion euros in bookings for the year ended March 31.
According to research firm Phocuswright, Airbnb likely generated approximately US$7.5 billion in gross bookings in 2015. After this year, the company will trail only Expedia Inc., Priceline Group and China-based Ctrip in annual gross bookings.
Earlier this summer, Airbnb filed documentation that indicated it will be raising $850 million in funding, which would put the company’s value at approximately $90 billion, reports Bloomberg News.
Almost one in three U.S. travellers stayed at a home-based unit in 2015, up from one in 10 in 2011, Phocuswright said.