Skift Take
If Booking's short-term rental business is so "underappreciated," then perhaps it should start breaking out its financials to give its message more clout.
Airbnb gets "so much appreciation" for its "growth and growth outlook" while Booking Holdings is actually "growing much faster" in its alternative accommodations business.
That's just one of three areas where Booking Holdings is "understated" and "under appreciated," according to Ewout Steenbergen, who's been on the job as the chief financial officer at Booking Holdings for six months.
Steenbergen was addressing attendees at a Goldman Sachs investor event Monday. He didn't name Airbnb specifically, but referenced the "largest player" in alternative accommodations, or short-term rentals.
He said many investors don't realize that Booking Holdings generates two-thirds the number of room