SharesPost: Airbnb Remains Top Choice For Consumers
SAN FRANCISCO--(BUSINESS WIRE)--Jun 6, 2018--Airbnb continues to demonstrate impressive rates of growth and customer satisfaction, but it’s unlikely the alternative hospitality giant will go public in 2018, according to an analysis based on SharesPost ’s Second Annual Alternative Accommodations Consumer Survey.
“Airbnb’s popularity and customer satisfaction continue to grow, making it the first choice for consumers when selecting alternative accommodations,” said Rohit Kulkarni, Managing Director and Head of Research of SharesPost, Inc. “Not only is Airbnb outpacing its competitors on many levels, it is also making inroads in online and corporate travel. Even so, the company still needs more time to prepare for an IPO, which is now likely in second half of 2019 or early 2020.”
The survey highlights include:Airbnb remains the clear leader in alternative accommodations. Thirty-seven percent said they used Airbnb, followed by 19% for Expedia, and 14% for Priceline Group. Furthermore, 48% of respondents thought Airbnb was better than online travel agencies, compared to 14% who favored online travel agencies. Majority of consumers surveyed now use alternative accommodations. Fifty-five percent said they have booked or stayed in a shared accommodation, vacation rental, or another non-hotel alternative accommodation, an increase of nine percent from 2017. Full-home bookings are the most popular choice, with shared accommodations gaining in popularity. While the majority of respondents continued to prefer full-home bookings, the percentage who preferred shared accommodations grew to 22% in 2018 from 17% percent in 2017. Airbnb experienced marginal gains in consumer usage, while competitors saw declines. With the notable exception of Priceline Group, Airbnb was the only travel intermediary to demonstrate usage growth. By contrast, Expedia, Tripadvisor and offline channels experienced marginal declines in recent usage. Airbnb users report high levels of satisfaction. Eighty-one percent of respondents who used Airbnb reported they were either extremely satisfied or very satisfied – in line with other major unicorn consumer companies, such as Pinterest, Uber, Lyft, and Spotify. The growth in Airbnb’s 2017 estimated U.S. bookings significantly outpaced online travel peers. Based on the implied growth in user base, booking frequency, and typical booking price, Airbnb’s U.S. bookings are estimated to grow 50% to 60%. Even at the low end of this range, Airbnb’s bookings grew more than twice as fast in comparable metrics reported by Priceline, Expedia and TripAdvisor. Consumers increasingly used home-sharing platforms for corporate travel. Fifty-five percent of home-sharing respondents used alternative accommodations for corporate travel. This is a nearly 100% increase from 2017. Furthermore, non-users were increasingly willing to consider alternative accommodations for such travel.
The SharesPost online survey was conducted in March and April 2018 and included responses from 4,093 consumers, compared to 4,780 responses in 2017. SharesPost tracks year-over-year trends in the alternative accommodations sector, including market share, overall home-sharing consumer preferences, usage, and satisfaction rates.
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About SharesPost, Inc.
SharesPost is a FINRA-registered broker-dealer, SEC-registered Alternative Trading System and Registered Investment Advisor. SharesPost helped launch the private tech growth market in 2009 and has built one of the leading platforms for secondary transactions and digital securities. SharesPost provides the private tech asset class with a suite of trading and lending solutions to facilitate shareholder and option holder liquidity. With more than $4 billion in secondary market transactions in the shares of more than 200 leading technology companies, SharesPost provides the trading, research and online tools to transact in the private market with confidence. For information, visit sharespost.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements. These statements include, but are not limited to, statements about research on late-stage, venture-backed companies. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond SharesPost’s control. These factors include, but are not limited to, factors detailed in the white paper. We undertake no obligation to release any revisions to any forward-looking statements.
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SOURCE: SharesPost, Inc.
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PUB: 06/06/2018 09:00 AM/DISC: 06/06/2018 09:01 AM