Lodging

Title Tickers Date Pages
Global Homesharing/OTA Web Deep Dive - vrbo Made Meaningful Progress in Expanding Its International Web Presence in 2020 – Quite the Opposite of Airbnb 2021-01-25 27
ABNB: Airbnb - US 4Q Short-term Rental KPIs Held Steady Relative to 3Q, Despite December Softening from October & November Levels ABNB 2021-01-22 11
ICYMI - TripAdvisor Out with 2021 Global Travel Trends to Watch - Survey Encouraging for Global Travel in 2021; but We View it as a Stretch w/ Rising Cases & Slower-than-Expected Vaccine Rollout 2021-01-21 3
HLT: Hilton - 4Q RevPAR Not as Bad as Feared, but w/ the Stock Trading at Over 17x ’22E EBITDA We’re Comfortable on the Sidelines HLT 2021-01-19 5
ABNB: Airbnb - ICYMI - Key Takeaways from Brian Chesky’s Presentation ABNB 2021-01-14 4
ABNB: Airbnb - Section 230 of the CDA Only Applies to Social Media Companies, Right? Think Again - Airbnb Could be Impacted ABNB 2021-01-11 5
Homesharing Web Deep Dive - Smaller STRs Growing Much Faster Than Airbnb & vrbo, but Faster % Growth Hasn’t Translated to Meaningful Share Gains (Yet?) 2021-01-11 8
Hotel Sector Web Traffic Deep Dive - WH the Most Digitally Resilient C-Corp in the 4Q; the Stock’s 4x EV/EBITDA Discount to the Peer Group Increasingly Unjustifiable 2021-01-08 9
ABNB: Airbnb - Can Airbnb Take Share from Hotels? We Think So, but Expect Share Gains to Temporarily Reverse as Biz Transient Demand Returns ABNB 2021-01-07 5
Hotel Email Promotional Analysis - A Unique look at Promotions - WH & CHH Utilizing Loyalty Databases to Drive Engagement; Higher End Chains Not So Much 2021-01-05 19
ABNB: Airbnb - Ample Growth Runway Ahead in China, but an Uphill Battle w/ Intense Local Competition & Supply Growth Exceeding Demand ABNB 2020-12-21 8
ABNB: Airbnb - Highlights from the AirDNA/GHRA Short-term Rental Market Webinar ABNB 2020-12-17 8
Rising Case Counts Impacting Lodging Demand - Lodging Conversion Rates Up with Window Shoppers Stepping Back – If You’re Looking, You’re Booking 2020-12-16 6
ABNB: Airbnb - Valuation Too Lofty & w/ Buyside Looking to Realize Gains, Shares Poised to Face Pressure in Coming Weeks; Downgrading to UP ABNB 2020-12-14 6
ABNB: Airbnb - Topline Growth Story w/ Numerous LT Levers to Pull to Drive Further GBV Upside & In Turn Valuation; Initiating w/ Buy Rating ABNB 2020-12-09 13
Airbnb IPO Prep - October Short-term Rental KPIs - US Gross Booking Improvement in October Driven by Supply/Demand Imbalance for "Entire Place" Rental Properties HLT, WH, ABNB, GRUB, MAR, CHH, H 2020-11-23 5
Airbnb, Inc. (ABNB) - Don't Have Time to Read a 400 Plus Page S-1? We Have You Covered HLT, WH, ABNB, GRUB, MAR, CHH, H 2020-11-17 19
Here's What you Need to Know Exiting 3Q Earnings Season - Vaccine News Won’t Change NT Consumer Demand or Fundamentals, but Will Drive Share Prices Higher 2020-11-12 15
MAR: Marriott - Solid 3Q, but Staying on the Sidelines w/ Shares Trading at 14x ‘22E EBITDA w/ Few Catalysts to Drive Further Multiple Expansion MAR 2020-11-06 5
MAR: Marriott - Big EBITDA Upside on a Modest RevPAR Miss; Cost Control Efforts and QTD Trends Will be the Key Focus Areas on the Call MAR 2020-11-06 5

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