Wall Street Is Starting to Believe Airbnb’s Growth Story

Airbnb CEO Brian Chesky told an audience at Skift Global Forum last September that he was "not happy" with the company's growth pace: "I think the company should be growing significantly faster," he said. "It should at least be growing in the teens." Nearly a year later, Bernstein analysts argue Airbnb may be getting there — and staying there. In a research note Monday titled "Airbnb: Acceleration Is Here to Stay," analyst Richard Clarke and two colleagues wrote that with management now guiding to a fifth consecutive quarter of roughly 10%-plus room-night growth, "investors are increasingly accepting that the acceleration is structural rather than transitory." The researchers tied the potential upside to Reserve Now, Pay Later; the introduction of a single fee model for hosts; dynamic pricing; hotel expansion; AI search, loyalty, sponsored listings, adding ancillaries, and growth in Asia. Some investors still don't view Airbnb's current 13% revenue g