InvestMoat

Airbnb vs Booking

Booking is cheaper. So why does Airbnb win?

Airbnb edges it, 77 to 76, on moat and growth.

Booking wins on valuation, but Airbnb's lead on growth counts for more.

ABNB · Platforms

Airbnb

…

AccumulateFull analysis

BKNG · Platforms

Booking Holdings

…

AccumulateFull analysis

ABNB

BKNG

Composite
77
(higher)
76
Moat
77
(higher)
72
Growth
75
(higher)
70
Valuation
75
81
(higher)

ABNB

BKNG

Bear
$105
$115
Base
$185
$210
Bull
$250
$260
Upside to base
—
—

ABNB

BKNG

Revenue CAGR, 3–5 yr
11-15%
7-11%

ABNB

BKNG

Proprietary Data
Intact
Intact
Regulatory Lock-In
N/A
N/A
Network Effects
Strong
Strong
Transaction Embedding
Intact
Intact
System of Record
Intact
Intact
Scale Economics
N/A
N/A
Brand & Pricing Power
Strong (higher)
Intact

ABNB

BKNG

Learned Interfaces
Intact
Intact
Business Logic
Intact
Intact
Public Data Access
N/A
N/A
Talent Scarcity
N/A
N/A
Bundling
Intact
Intact

Shaded cells mark the higher score or stronger moat on each row. Valuation and composite use the live price when it is available, the same as each stock page.

Which is the better stock, Airbnb or Booking?

Airbnb edges it, 77 to 76, on moat and growth. Booking wins on valuation, but Airbnb's lead on growth counts for more. Our rating: Airbnb Accumulate, Booking Accumulate.

Does Airbnb or Booking have the wider moat?

Airbnb scores 77 on moat to Booking's 72. Airbnb is rated stronger on brand & pricing power.

Which is growing faster, Airbnb or Booking?

Airbnb scores 75 on growth to Booking's 70. We expect Airbnb to grow 11–15% a year, Booking 7–11%.

Is Airbnb or Booking cheaper right now?

Booking scores 81 on valuation to Airbnb's 75. In our base case, Booking has more upside: +42% vs +22%.

Scores in the answers use the price each valuation was last struck at; the table above updates with the live price. Not investment advice.