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On the flip side, Hyatt has billions of dollars of equity in real estate (which appreciates in value while not technically generating a profit), while AirBnB ha
by claudiulodro 3y ago
On the flip side, Hyatt has billions of dollars of equity in real estate (which appreciates in value while not technically generating a profit), while AirBnB has an online marketplace. Presumably that's part of the PE difference.
- lotsofpulp 3y agoMost branded hotels are not owned by the hotel brand. The hotel brand sells the brand name and (presumed) quality control, but different businesses usually own the real estate, such as REITs or other types of hotel owners. Extended Stay America is an exception to this, they own all of their real estate. Also, unrealized gains in real estate would be priced similarly by investors for both Hyatt and Airbnb, so that would not make a difference to P/E.