Airbnb is winning market share because of increased conversion rates, according to SimilarWeb estimates.
Conversion rates are when visitors to Airbnb platforms book a stay.
Website and mobile traffic analytics firm SimilarWeb found that in the first quarter of 2022, Airbnb’s conversion rate in the U.S. increased 22 percent compared with the first quarter of 2021, and the conversion of lookers to bookers increased 22 percent sequentially from the fourth quarter of 2021.
These conversion numbers in the U.S. were higher than Vrbo’s, a competitor, SimilarWeb found.
“This indicates market share growth and strong revenues for 1Q,” according to SimilarWeb.
In the first quarter, Airbnb’s revenue increased 80 percent to $1.5 billion when measured against the pre-pandemic first quarter of 2019. The increase was 70 percent year over year.
“Conversions grew 30 percent, 93 percent, 24 percent and 37 percent in France, Germany, Spain and the UK, respectively,” SimilarWeb found.