Airbnb Inc. ranks No. 1 in the home-sharing market, but travel booking giants Priceline Group Inc. and Expedia Inc. are catching up — the latter boosted by rapid growth at Austin-based HomeAway Inc.
Airbnb, based in San Francisco, has a roughly 15 percent share of the global home-sharing market, compared with 12 percent for Expedia (Nasdaq: EXPE) and 9 percent for Priceline (Nasdaq: PCLN), according to research by the Susquehanna International Group.
But both travel sites are boosting their home rental efforts because they want customers to have as many lodging options as possible — and increase their presence in a sector projected to grow 8 percent in 2017 to $34 billion, the Wall Street Journal reports.
Read the full story at Bizjournals.