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Airbnb has partnered with Tripadvisor Group to bring a selection of Tripadvisor experiences to the Airbnb platform, with certain tours and activities bookable later this year. The move aligns with Airbnb's strategy to scale Experiences, as CEO Brian Chesky noted on the Q2 earnings call that they added 1,000 new experiences, increasing supply by nearly 80% year over year.
Phocuswright's Global Short-Term Rentals 2026 report shows gross bookings reached $219.9B in 2025, projected to grow at 5.3% CAGR to $270.6B by 2029. The sector has shifted from unregulated growth to enforcement and scrutiny, reshaping supply. Technology shifts including generative AI and Airbnb's expansion beyond stays are transforming discovery and booking, though impact on incremental demand remains unclear. North America STR bookings grew 4% in 2025 to $78B, projected 5% growth in 2026 to $81.8B. Europe will reach $79.7B in 2026. APAC projected 8.9% CAGR to $49.3B by 2029.
Airbnb highlighted that its hotel initiative is exceeding expectations during its Q2 earnings call, partnering with Lark to add over 75 boutique properties. Hotels account for a single-digit percentage of nights but are growing three times faster than homes. Revenue rose 17% to $3.6 billion, and AI reduced customer service costs by 16%.
Airbnb has signed a distribution agreement with Lark, a boutique hotel operator based in Portsmouth, New Hampshire, to bring over 75 boutique hotels onto the Airbnb platform. Lark manages nearly 100 independent hotels across the U.S. and Mexico. The partnership aligns with Airbnb's strategy of offering unique, localized stays.
This week's travel tech news: Katanox names Rob Torres chairman; Airbnb appoints David Spielfogel as global head of public policy; Amex GBT launches Egencia AI connector; HBX Group partners with Sabre; RMS integrates with TrustYou; Atlas adds Volaris, and more.
Travel startup funding was relatively quiet in Q2 2026, with deals concentrated in seed and Series B rounds, and one notable Series C. Notable Series B rounds include hotel tech company Smartness raising €47 million and India-based hostel company The Hosteller announcing $16 million. WeRoad secured a $58 million Series C led by Airbnb. Clarasight raised an $11.5 million Series A. Despite the seeming lack of funding, investors are bullish on the outlook. Phocuswright data shows funding reached $1.7 billion in the first five months of the year, up from $1.1 billion in 2025. On the M&A front, Expedia Group's acquisition of CarTrawler, Juniper's acquisition of Deem, and Lighthouse's acquisition…
In Q1 2026, major OTAs increased marketing spend. Booking Holdings invested $2.1 billion, up 16% YoY, representing 38% of revenue. Expedia Group's sales and marketing spend reached $1.9 billion, up 6% YoY, 54% of revenue. Airbnb invested $751 million, up 33% YoY, 28% of revenue. Despite AI-driven efficiency efforts, companies continue to boost spending to compete for customers and highlight direct channel growth.
At Mews Unfold, Airbnb executives and Mews founder discussed how hotels can increase their share of guest spending by engaging with local communities and partnerships. They believe AI can help hotels connect with local businesses, creating new revenue opportunities.
Airbnb has announced the recruitment of Andrea D'Amico as VP of hotels, starting in early June. This move is part of Airbnb's expansion into hotels, focusing on independent and boutique properties. Hotel inventory is now expanding to 30 cities.