Movement Alert|Airbnb Rises 3.08% in Regular Trading, Hotel Expansion Strategy Continues to Boost Sector Sentiment

Market Focus06-27 00:10

On June 27, Airbnb rose 3.08% in regular trading, trading at 146.27 USD/share, with turnover of $123 million.

On the news front, Mizuho recently published a research note indicating that Airbnb's expansion into the hotel industry will create strong tailwinds that the market has not yet fully recognized. After speaking with software connectivity partners and a former hotel business employee, analysts expressed increased optimism about Airbnb's strategy of allowing hotels to list rooms on its platform. They noted that hotels are eager to partner with the company, integration challenges between hotel booking systems and Airbnb are being resolved, and a cultural shift prioritizing hotel operations is underway. Mizuho expects the hotel business to contribute approximately 2 percentage points of additional growth for the company next year.

Within the Hotels, Resorts and Cruise Lines sector, Booking Holdings up 2.85%, Royal Caribbean Cruises up 0.87%, Carnival up 1.56%, Hilton down 0.2%, Marriott down 0.47%.

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