What Airbnb CEO Brian Chesky Said in the Q3 Report Amazed Me
My family bought shares in Airbnb (NASDAQ: ABNB) because it's revolutionizing the travel market. Ordinary hotels and motels are going to have a tough time competing with Airbnb's business model. Airbnb has a supply of 4 million places where people can stay around the world. What hotel chain can compete with that?
And if that's not enough, Airbnb has literally zero construction costs involved with these places. Hotel chains have to take on massive debt in order to construct new buildings. Airbnb uses existing properties in a new, exciting way. If you combine millennials' love of travel with their love of recycling, Airbnb is the perfect website for them. We don't need to create new vacation spots; just use existing places!
image source: Getty Images.
Source Fool.com
