The rapid growth of Airbnb will see it become one of the world’s largest online travel companies by the end of the year.
Travel industry research firm Phocuswright estimates Airbnb’s gross bookings had hit $7.5 billion by the end of 2015.
Phocuswright predicts the San Francisco-based home sharing platform will trail only Expedia, Priceline and China’s Ctrip for annual gross booking value by the end of this year.
It found one in three US travellers stayed in an Airbnb home last year, more than triple the number just four years ago.
"Airbnb has played a pretty big role in making alternative accommodations mainstream," Douglas Quinby, vice president of research at Phocuswright told the Travel + Leisure publication.
"Travellers are now looking for the right place to stay in the best location that fits the bill, which might not necessarily be a home, hotel, or hostel."
Airbnb secured another $1 billion debt facility recently, according to Bloomberg, as it expands services beyond its core business to include features such as restaurant reviews, general trip planning, activities and tours.
