Jun 4Liked by Wolf of Harcourt Street

Why ABNB and not BKNG?

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Primarily due to growth prospects. The consensus is that Airbnb will grow by 11/12% for the next number of years compared to 8/9% for Booking. If this transpires then it means that Airbnb is increasing its market share. The real value creation for Airbnb will be its own advertising platform which I feel is being ignored at the moment. Booking already earns $1 billion from advertising while Airbnb earns nothing.

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