$ABNB Q4 2020: Qualitative Ramblings
The theme of this particular earnings was centered around hosts.
- This year they plan to educate world about hosting
- simplify onboarding projects for hosts
- Make it easier for guests to fine the perfect stay.
Biggest changes they have seen in travel patterns related to pandemic. People are more likely to travel via car to other local towns, areas. e.g 'Hudson N.Y, Frisco CO, Tuscan AZ. Greater changes in people who look to book based on flexible travel dates given people are working from home.
There is a bright outlook given expected travel planning to rebound toward the summer (contingent on global health crisis). No particular guidance for earnings but revenues should improve QoQ 2021.
Keys
- Flexibility can be the easiest defensible MOAT and ABNB is building towards that
- Brand recognition is already there in mature markets. They have a game plan for emerging markets which to increase brand awareness which will halo subsequent conversions.
- Capitalizing the shift in changing travel patterns by finding additional ways to removing friction to book
- Building out ABNB Uni to better empower hosts
- ABNB Payments is most intriguing product given it's down in-house.