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At $2.5 billion, Airbnb is now more valuable than the Mandarin Oriental hotel chain

AP Photo / Alexander F. Yuan
The Mandarin Oriental in Beijing after a fire in 2009
  • Zachary M. Seward
By Zachary M. Seward

Editor-in-chief of Quartz

Published Last updated This article is more than 2 years old.

Peter Thiel is leading a new round of funding for Airbnb, the five-year-old online marketplace for short-term rentals, at a valuation of $2.5 billion, The Wall Street Journal just reported.

That makes the company more valuable than, for instance, upscale hotel chain Mandarin Oriental, which has a market capitalization of $1.5 billion. And WSJ editor Dennis Berman notes that Airbnb’s new valuation is also about 40% of giant Hyatt Hotels. It was only last summer that Airbnb was valued at $1 billion.

Click here for lodging stocks ranked by market cap.

Over in Ideas, Mitra Kalita writes about how an economic recovery could hurt Airbnb’s growth.

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