Brian Chesky is building Airbnb into an enduring travel brand

No matter what it says, the hotel industry can’t just shake off Airbnb.

The apartment-rental marketplace, led by CEO Brian Chesky, now has more than four million listings worldwide, is working with a developer on the first co-branded Airbnb-ready building, passed 260 million all-time stays this year, raised another $1 billion and — according to a source close to the company — will be profitable again this year on an Ebitda* basis, by some $50 million above forecast.

That’s not to suggest things are perfect. It’s not clear that the company’s “experiences” product — a potential second major revenue stream including local tours, activities and more — is a real hit, though Airbnb continues to invest in it. Or that its other efforts to grow beyond apartment rentals will work. Cities may strike back with more regulation. China is alluring but tricky. Hotels have learned some lessons, too, both about coaxing regulators and designing a more modern travel experience.

Chesky has already built one of the most exciting global brands this century, with a $30+ billion valuation to match. But is it a one-trick pony? We’ll learn more next year.

* Earnings before interest, taxes, depreciation and amortization.

This article originally appeared on Recode.net.

Will you support Vox’s explanatory journalism?

Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:

First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.

Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.

So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)

If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.

One-Time Monthly Annual

$5/month

$10/month

$25/month

$50/month

Other

$

Yes, I'll give $5/month

Yes, I'll give $5/month

We accept credit card, Apple Pay, and Google Pay. You can also contribute via