1. Business Model Overview
- Origins & Key model differences:
- Airbnb: peer-to-peer inventory generated by hosts (asset-light, supply-constrained)
- Booking.com: Aggregator of professional inventory (hotels, resorts, businesses)
- Key value proposition: Hosts: additional revenue source - both rely on supply partnerships
- Revenue model: Commission-based, but with different take rates and payment structures.
- User relationship: How each platform builds and retains trust, identity, and a network effect.
2. Value Proposition & Customer Segments
- Demand side: Travelers/guests → experiential stays (Airbnb) vs reliability and convenience (Booking).
- Supply side: Incentives for hosts/property owners → visibility, pricing, control, revenue.
- Network effects: Cross-side and same-side effects: how liquidity drives growth.
- User journey differences: From discovery to booking to post-stay experiences.
3. Recurrence, Retention, and Engagement
- Recurrence and engagement metrics (e.g., leisure vs business trips.
- Retention strategies: Loyalty programs (e.g. Booking Genius vs Airbnb’s “Superhost” and “Superguest”).
- Trust building mechanisms: Reviews, wishlists, messaging, personalization, trust systems.
- Key Growth KPIs:
- DAU/MAU ratio
- Booking frequency per user
- Retention rate
- LTV/CAC
4. Supply Strategy and Liquidity Management
- Supply side: Challenges of managing long-tail supply, host education, Superhost programs.
- Booking.com: Professional supply partnerships, dynamic pricing, advanced risk management.
- Matching efficiency: Search algorithms, availability calendars, and conversion optimization.
5. Geographical and Segment Expansion
- Global presence vs key focus markets (travel, “Airbnb Rooms”).
- New services: Flights, attractions, taxis, full-travel bundle (“connected trip” vision).
- Which platform can expand more effectively?
- Commission rates and fee structures.
- Cost structure and marketing spend (Booking’s heavy paid acquisition vs Airbnb’s organic growth).
- EBITDA margins, profitability, and scalability comparison.
7. Trust, Brand, and User Ownership
- How each platform builds trust (reviews, verifications, cancellation policies).
- Brand positioning: “Belong anywhere” (Airbnb) vs “Book-ing-yeah” (Booking.com).
- Ownership of user relationship: Who “owns” the traveller, the host, or the platform?
8. Future Outlook
- How are both evolving?
- Airbnb → focuses community integration, experiences, and long-term rentals.
- Booking → toward a super-app for travel (multi-product offerings).
- Which model is more defensible in the long run?