Marriott International, which is a corporate umbrella overlooking 30 different hotel brands, is the number one hotel chain in the world at the moment. It just this year closed on a $13 billion acquisition of Starwood Hotels & Resorts Worldwide, giving it a total of more than 5,800 properties around the globe.
In total they've got about 1.1 million rooms in roughly 110 different countries.
The Marriott company was founded in 1927 and it has taken the company over 89 years to be able to reach its current position of hosting those thousands of properties in many countries around the world. Their revenue from 2015 was $14.486 billion, and their net income was roughly $859 million.
Let's compare their success to Airbnb
Airbnb was founded in 2008, less than 10, years ago and it has already grown to the point of hosting over 1 million different listings around the world. That's simply amazing. The company also has a valuation estimated around $24 billion. And their revenue from 2015 is estimated to have been around $900 million. It's incredible how fast this company has grown and how much success it has seen in the market, despite the push-back in many areas to crackdown on Airbnb listings.
Airbnb is also affording a number of different people, who are hosting their properties with it, the opportunity to make an income and many have been using it in order to help pay off their own mortgages. Some people with numerous properties are even pulling-in more than $1 million per year in revenue from their Airbnb listings.
People are jumping at the chance to take advantage of the sharing economy system.
It took Airbnb less than a decade to accomplish what it has taken other hotel chains almost a century to achieve. Between 2014 and 2015, Airbnb saw revenue growth that was estimated at around 113 percent. Compare that with Marriott who is estimated to have seen only about 8 percent growth.
It is no surprise that big hotel chains have been lobbying in many different cities, to put pressure on state officials to crackdown on their competition; to try and stunt the success that Airbnb continues to see in the market.
Pics:
pixabay
cbinsights
Source:
http://www.cnbc.com/2016/09/23/marriott-buys-starwood-becoming-worlds-largest-hotel-chain.html
https://en.wikipedia.org/wiki/Marriott_International
https://en.wikipedia.org/wiki/Airbnb
https://www.cbinsights.com/
http://fortune.com/2016/12/08/airbnb-1-million-instant-booking/
http://fortune.com/2015/06/17/airbnb-valuation-revenue/
https://www.entrepreneur.com/article/241929
http://fortune.com/2016/01/27/big-hotels-airbnb/