Airbnb (ABNB)
Marketplace for homes, boutique hotels, local experiences, and travel services.
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Airbnb is still overwhelmingly a marketplace for places to stay, earning fees without owning the homes. That engine is funding a careful push into hotels, local activities, personal services and useful trip extras. The destination is a broader travel companion, but the money still comes from homes.
Item facts: FY2025 · year ended Dec 31, 2025, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 8 more below
Airbnb Homes
The core marketplace for whole homes and private rooms supplies an estimated 97–99% of FY2025 revenue. Its job is to keep funding every newer bet while stay supply, local rules and traveler trust remain dependable.
Competes with Vrbo vacation rentals (Expedia Group) · Booking.com homes and apartments (Booking Holdings)
In plain English
Think of Homes as a giant matchmaker for spare rooms, apartments and vacation houses. Hosts choose what to offer and set the price; travelers search, book and pay through Airbnb. The company owns almost none of the places shown.
When a stay happens, Airbnb keeps a service fee and sends the rest to the host. In most markets, the standard fee charged to the host is 15.5%. That light-on-property setup makes Homes the cash engine, but it only works while hosts keep listing, travelers trust strangers' spaces and cities allow short stays.
Reserve Now, Pay Later
Eligible guests can hold a short stay without paying upfront. By Q2 2026 the option covered more than 20% of the value of trips booked worldwide; the booking lift was beating the added cancellations, which remain the watchpoint.
Competes with Pay Later and Pay at Property (Booking.com) · Reserve Now, Pay Later (Expedia Group)
In plain English
A guest sees a place they want but keeps their money until closer to check-in. Reserve Now, Pay Later holds the booking for zero dollars today, then collects before the stay. It is not offered for monthly stays, Experiences or Services.
Airbnb does not sell this as a separate product. The payoff is more people finishing a home booking and eventually paying the usual service fee. The trade-off is a flimsier reservation: more guests cancel, leaving hosts with dates to refill. So the program works only when extra bookings outweigh those empty-calendar risks.
Co-Host Network
Owners can hire nearby helpers to run listings and guest chores, adding homes Airbnb might otherwise miss. The network reached roughly 100,000 listings within four months of launch; quality and wider country coverage matter next.
Competes with Full-service property management (Casago/Vacasa) · Management plans (Evolve)
In plain English
Some owners have a home to rent but no time to answer messages, manage bookings or handle work on site. The Co-Host Network is a directory that introduces them to a nearby person who can do those jobs.
The owner and helper choose the work and price between themselves; Airbnb does not charge an extra network fee. Airbnb benefits when that help brings a new home online or keeps an existing one bookable, because completed stays still produce the normal marketplace fee. The weak link is simple: a poor helper can spoil both the guest's trip and the owner's listing.
Airbnb Assistant
The automated helper answers trip and support questions before handing harder cases to people. By August 2026 it settled about 45% of suitable issues without a person; safe answers and smooth handoffs determine whether savings last.
Competes with AI Trip Support and AI Trip Planner (Booking.com) · Search and generative-AI travel tools (Alphabet)
In plain English
When a trip goes wrong, Airbnb Assistant is the first desk a guest or host can visit. It reads the trip details, answers common questions and tries to solve routine problems in more than 50 languages before passing the case to a person.
Nobody buys the Assistant on its own. It earns its keep by making the main marketplace cheaper and easier to run: fewer repetitive support calls mean less work per booking, while faster answers may keep customers from giving up. The danger is a confident wrong answer involving someone's money, home or travel plans, so human backup still matters.
Hotels on Airbnb
Boutique and independent hotel rooms now sit beside homes in the same search. In Q2 2026 hotels were still a single-digit share of nights even as they grew much faster than Homes; competitive room prices matter next.
Competes with Booking.com Hotels (Booking Holdings) · Expedia Hotels (Expedia Group)
In plain English
This puts ordinary hotel rooms on the same shelf as apartments and spare bedrooms. Independent and boutique hotels provide the rooms, while Airbnb brings the search traffic, booking screen, payment flow and support. HotelTonight, the hotel-booking business Airbnb bought in 2019, helps with the room-supply know-how.
Airbnb makes money when a traveler books a hotel through that shared marketplace. Hotels can also be a front door: some first-time hotel guests later choose a home. The category is growing quickly from a small base, and established hotel sites already offer deep choice, so rates and reliable room information must be competitive.
Airbnb Experiences
Local hosts sell tours, classes and activities, and Airbnb generally keeps 20% of each booking. Supply is rising quickly from a small base; building enough trusted choice city by city is the test.
Competes with Viator Experiences (Tripadvisor) · Activities marketplace (GetYourGuide)
In plain English
A cooking class, walking tour or craft lesson can be booked much like a room. Local operators create and run the activity; Airbnb shows it to travelers and locals, collects payment and helps when something goes wrong.
The usual host fee is 20% of the booking. Nearly half of bookings had no Airbnb stay attached by November 2025, so Experiences can bring in people even when they sleep elsewhere. More listed activities help only if they are appealing, safe and available at useful times. That makes careful local selection more valuable than simply planting flags in many cities.
Airbnb Services
Guests and locals can book chefs, photographers, massage and other personal help. Airbnb generally keeps 15%; the hard part is building enough good providers and open appointment times in each city.
Competes with Thumbtack Marketplace (Thumbtack) · Wellness and spa activities (GetYourGuide)
In plain English
Need a chef for dinner, a photographer for a day out or a massage after a flight? Services lets independent local professionals offer those appointments inside Airbnb. The provider does the work; Airbnb handles discovery, scheduling, payment and customer help.
Airbnb generally charges the provider 15% of the booking, with at least a $6 fee. This business grows one neighborhood at a time: customers will not keep checking an appointment marketplace that has too few choices, and providers will not stay if too few customers arrive. Licenses and consistent service add another layer of work.
Partner Services
Outside partners provide car rental, groceries, airport rides, luggage storage and resort passes around a stay. Five categories were live by August 2026; Airbnb can widen each trip, but partner fees and customer use remain undisclosed.
Competes with Booking.com Car Rentals (Booking Holdings) · Expedia Cars (Expedia Group)
In plain English
The stay is booked, but the traveler may still need a car, groceries, an airport ride or somewhere to leave bags. Partner Services places those extras around the trip inside Airbnb, then sends the order to a specialist such as Instacart, Welcome Pickups or Bounce.
The partner supplies the cars, drivers, goods or storage; Airbnb supplies a traveler at the right moment. That can produce a fee for sending the customer to the partner, though the amount Airbnb keeps is not disclosed. The trade is less control: broken connections, too few available cars or time slots, or poor service can still reflect on Airbnb.
Airbnb HomesThe core marketplace for whole homes and private rooms supplies an estimated 97–99% of FY2025 revenue. Its job is to keep funding every newer bet while stay supply, local rules and traveler trust remain dependable.The core marketplace for whole homes and private rooms supplies an estimated 97–99% of FY2025 revenue. Its job is to keep funding every newer bet while stay supply, local rules and traveler trust remain dependable.
In plain English
Think of Homes as a giant matchmaker for spare rooms, apartments and vacation houses. Hosts choose what to offer and set the price; travelers search, book and pay through Airbnb. The company owns almost none of the places shown.
When a stay happens, Airbnb keeps a service fee and sends the rest to the host. In most markets, the standard fee charged to the host is 15.5%. That light-on-property setup makes Homes the cash engine, but it only works while hosts keep listing, travelers trust strangers' spaces and cities allow short stays.
Competes with Vrbo vacation rentals (Expedia Group) · Booking.com homes and apartments (Booking Holdings)
Reserve Now, Pay LaterEligible guests can hold a short stay without paying upfront. By Q2 2026 the option covered more than 20% of the value of trips booked worldwide; the booking lift was beating the added cancellations, which remain the watchpoint.Eligible guests can hold a short stay without paying upfront. By Q2 2026 the option covered more than 20% of the value of trips booked worldwide; the booking lift was beating the added cancellations, which remain the watchpoint.
In plain English
A guest sees a place they want but keeps their money until closer to check-in. Reserve Now, Pay Later holds the booking for zero dollars today, then collects before the stay. It is not offered for monthly stays, Experiences or Services.
Airbnb does not sell this as a separate product. The payoff is more people finishing a home booking and eventually paying the usual service fee. The trade-off is a flimsier reservation: more guests cancel, leaving hosts with dates to refill. So the program works only when extra bookings outweigh those empty-calendar risks.
Competes with Pay Later and Pay at Property (Booking.com) · Reserve Now, Pay Later (Expedia Group)
Co-Host NetworkOwners can hire nearby helpers to run listings and guest chores, adding homes Airbnb might otherwise miss. The network reached roughly 100,000 listings within four months of launch; quality and wider country coverage matter next.Owners can hire nearby helpers to run listings and guest chores, adding homes Airbnb might otherwise miss. The network reached roughly 100,000 listings within four months of launch; quality and wider country coverage matter next.
In plain English
Some owners have a home to rent but no time to answer messages, manage bookings or handle work on site. The Co-Host Network is a directory that introduces them to a nearby person who can do those jobs.
The owner and helper choose the work and price between themselves; Airbnb does not charge an extra network fee. Airbnb benefits when that help brings a new home online or keeps an existing one bookable, because completed stays still produce the normal marketplace fee. The weak link is simple: a poor helper can spoil both the guest's trip and the owner's listing.
Competes with Full-service property management (Casago/Vacasa) · Management plans (Evolve)
Airbnb AssistantThe automated helper answers trip and support questions before handing harder cases to people. By August 2026 it settled about 45% of suitable issues without a person; safe answers and smooth handoffs determine whether savings last.The automated helper answers trip and support questions before handing harder cases to people. By August 2026 it settled about 45% of suitable issues without a person; safe answers and smooth handoffs determine whether savings last.
In plain English
When a trip goes wrong, Airbnb Assistant is the first desk a guest or host can visit. It reads the trip details, answers common questions and tries to solve routine problems in more than 50 languages before passing the case to a person.
Nobody buys the Assistant on its own. It earns its keep by making the main marketplace cheaper and easier to run: fewer repetitive support calls mean less work per booking, while faster answers may keep customers from giving up. The danger is a confident wrong answer involving someone's money, home or travel plans, so human backup still matters.
Competes with AI Trip Support and AI Trip Planner (Booking.com) · Search and generative-AI travel tools (Alphabet)
Hotels on AirbnbBoutique and independent hotel rooms now sit beside homes in the same search. In Q2 2026 hotels were still a single-digit share of nights even as they grew much faster than Homes; competitive room prices matter next.Boutique and independent hotel rooms now sit beside homes in the same search. In Q2 2026 hotels were still a single-digit share of nights even as they grew much faster than Homes; competitive room prices matter next.
In plain English
This puts ordinary hotel rooms on the same shelf as apartments and spare bedrooms. Independent and boutique hotels provide the rooms, while Airbnb brings the search traffic, booking screen, payment flow and support. HotelTonight, the hotel-booking business Airbnb bought in 2019, helps with the room-supply know-how.
Airbnb makes money when a traveler books a hotel through that shared marketplace. Hotels can also be a front door: some first-time hotel guests later choose a home. The category is growing quickly from a small base, and established hotel sites already offer deep choice, so rates and reliable room information must be competitive.
Competes with Booking.com Hotels (Booking Holdings) · Expedia Hotels (Expedia Group)
Airbnb ExperiencesLocal hosts sell tours, classes and activities, and Airbnb generally keeps 20% of each booking. Supply is rising quickly from a small base; building enough trusted choice city by city is the test.Local hosts sell tours, classes and activities, and Airbnb generally keeps 20% of each booking. Supply is rising quickly from a small base; building enough trusted choice city by city is the test.
In plain English
A cooking class, walking tour or craft lesson can be booked much like a room. Local operators create and run the activity; Airbnb shows it to travelers and locals, collects payment and helps when something goes wrong.
The usual host fee is 20% of the booking. Nearly half of bookings had no Airbnb stay attached by November 2025, so Experiences can bring in people even when they sleep elsewhere. More listed activities help only if they are appealing, safe and available at useful times. That makes careful local selection more valuable than simply planting flags in many cities.
Competes with Viator Experiences (Tripadvisor) · Activities marketplace (GetYourGuide)
Airbnb ServicesGuests and locals can book chefs, photographers, massage and other personal help. Airbnb generally keeps 15%; the hard part is building enough good providers and open appointment times in each city.Guests and locals can book chefs, photographers, massage and other personal help. Airbnb generally keeps 15%; the hard part is building enough good providers and open appointment times in each city.
In plain English
Need a chef for dinner, a photographer for a day out or a massage after a flight? Services lets independent local professionals offer those appointments inside Airbnb. The provider does the work; Airbnb handles discovery, scheduling, payment and customer help.
Airbnb generally charges the provider 15% of the booking, with at least a $6 fee. This business grows one neighborhood at a time: customers will not keep checking an appointment marketplace that has too few choices, and providers will not stay if too few customers arrive. Licenses and consistent service add another layer of work.
Competes with Thumbtack Marketplace (Thumbtack) · Wellness and spa activities (GetYourGuide)
Partner ServicesOutside partners provide car rental, groceries, airport rides, luggage storage and resort passes around a stay. Five categories were live by August 2026; Airbnb can widen each trip, but partner fees and customer use remain undisclosed.Outside partners provide car rental, groceries, airport rides, luggage storage and resort passes around a stay. Five categories were live by August 2026; Airbnb can widen each trip, but partner fees and customer use remain undisclosed.
In plain English
The stay is booked, but the traveler may still need a car, groceries, an airport ride or somewhere to leave bags. Partner Services places those extras around the trip inside Airbnb, then sends the order to a specialist such as Instacart, Welcome Pickups or Bounce.
The partner supplies the cars, drivers, goods or storage; Airbnb supplies a traveler at the right moment. That can produce a fee for sending the customer to the partner, though the amount Airbnb keeps is not disclosed. The trade is less control: broken connections, too few available cars or time slots, or poor service can still reflect on Airbnb.
Competes with Booking.com Car Rentals (Booking Holdings) · Expedia Cars (Expedia Group)
Named in filings, launches and programs
- Long-term staysProduct lineStays longer than 30 days, embedded inside Homes, represented roughly 17–18% of nights in early 2025.
- Private RoomsProduct lineLower-priced, room-level stays inside Airbnb Homes, often with the host present.
- AirCover for HostsEcosystemHost protection includes up to $3 million for damage and $1 million for liability, split between Airbnb and outside insurers.
- Guest FavoritesCustomer programA quality badge attached to stays that made up nearly half of bookings in late 2025 after weaker listings were removed.
- Airbnb OriginalsBrandCurated Experiences meant to stand out; in Paris, locals made 70% of bookings by November 2025.
- HotelTonightBrandThe hotel-booking business bought in 2019 remains part of Airbnb's hotel expansion.
- Total Price DisplayCustomer programShows required fees upfront; Airbnb rolled it out worldwide in April 2025.
- Pay Part Now, Part LaterCustomer programSplits payment across dates, unlike the separate option that requires nothing upfront.
Long-term staysProduct line
Stays longer than 30 days, embedded inside Homes, represented roughly 17–18% of nights in early 2025.
Private RoomsProduct line
Lower-priced, room-level stays inside Airbnb Homes, often with the host present.
AirCover for HostsEcosystem
Host protection includes up to $3 million for damage and $1 million for liability, split between Airbnb and outside insurers.
Guest FavoritesCustomer program
A quality badge attached to stays that made up nearly half of bookings in late 2025 after weaker listings were removed.
Airbnb OriginalsBrand
Curated Experiences meant to stand out; in Paris, locals made 70% of bookings by November 2025.
HotelTonightBrand
The hotel-booking business bought in 2019 remains part of Airbnb's hotel expansion.
Total Price DisplayCustomer program
Shows required fees upfront; Airbnb rolled it out worldwide in April 2025.
Pay Part Now, Part LaterCustomer program
Splits payment across dates, unlike the separate option that requires nothing upfront.