By Tom Huddleston Jr. and Alan Murray
June 18, 2015

Is Airbnb more valuable than Marriott?


That’s what the Wall Street Journal tells us this morning. The online marketplace is in the midst of a fundraising round that it hopes will value the company at $24 billion – surpassing the hotel giant’s $21 billion. Airbnb has told prospective investors its revenues will pass $900 million this year. Marriott, which manages 4,000 hotels, brought in nearly $14 billion last year. Marriott CEO Arne Sorenson and Airbnb CEO Brian Chesky were my guests at the White House Correspondents dinner last month, and both cheerfully insisted they are not – yet – in serious competition with each other. Marriott relies mainly on the business traveller; Airbnb on more casual travelers. But if Chesky is going to live up to those kind of market expectations, he will have to give Sorenson a run for his money.


Meanwhile , Fitbit’s IPO priced at a better-than-expected $20 a share, bringing in $740 million, and putting a value of $4.1 billion on the fitness tracker.


Does anyone think it’s time to stop giving away free money? Janet Yellen is not quite there yet.


If you didn’t take the survey we offered last week, please try this one. We’ve shortened it, and really want your help in making this newsletter better.


Enjoy the day.


Alan Murray


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