Perspective amongst ‘hoteliers’

Airbnb stock has risen 88% since its IPO price.
Over the same time, Hilton and Marriott stock has risen 148% and 100% respectively.

But if investors had bought AirBnB stock on its first day of trading publicly and held it until today, the return is -8%.

All three businesses operate an “asset-light” model.

It also illustrates how most of Airbnb’s capital appreciation occurred while it was still a private company.