Insight
The valuation of Ennismore as a collection of 200 hotels with a good restaurant business, rather than a platform with its own demand engine, leads to a valuation discount.
Airbnb’s Best Hotel Strategy Is Sitting in Ennismore’s IPO Filing
Summary
Ennismore's IPO filing offers insights into Airbnb's potential hotel strategy. The article highlights the exchange of hotel credibility and F&B depth for Airbnb's demand and home revenue. Ennismore is valued at €3.2 billion, with potential for a US listing.
Key takeaway