The home-sharing giant is searching for its next act as bookings plateau and competition intensifies
Nov 3, 2025
Airbnb has evolved from a scrappy startup into a profitable travel giant valued above Marriott. But growth is cooling, regulation is tightening, and investors are questioning what comes next. CEO Brian Chesky is now steering the company toward new markets, experiences, and AI-driven personalization — hoping to rekindle the sense of movement that once defined it.
Key takeaways
- Slowing momentum: Airbnb’s $86 billion in bookings over the past year rose just 10%, signaling a deceleration from its earlier double-digit expansion.
- Investor unease: Shares have fallen 7% in the past year as analysts expect further signs of stagnation in the upcoming earnings report.
- Expansion beyond core markets: The company is pushing into emerging regions like Brazil and India, where booking growth is three times faster than in its main markets of the U.S., U.K., France, Canada, and Australia.
- Hotels join the platform: Around 95,000 hotels now list on Airbnb, helping attract business travelers and diversify inventory without heavy ad spending.
- New product experiments: Airbnb is reviving and expanding its “experiences” business, adding services like personal training and social features, with car rentals and loyalty programs likely next.
- Cautious stance on AI: Unlike Booking or Expedia, Airbnb has avoided direct ChatGPT integration. Chesky wants to use AI internally to build a “conversational” app that better understands users instead of becoming a data source for others.
- Bigger philosophical bet: Chesky frames Airbnb not just as a booking tool but as a “movement” for real-world connection — though the market may see it more pragmatically, as just another place to stay.
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