Airbnb built its name on a specific image: a weekend in someone else's apartment, cheaper and more interesting than a hotel.
That image is increasingly out of date.
In both Q3 and Q4 2025, almost half of all Experience bookings were not attached to an accommodation booking, meaning people booked a cooking class or a guided hike through Airbnb without booking a place to stay at all.
At the same time, Airbnb has started putting actual hotels on the platform.
The vacation rental company is quietly turning into something broader.
