According to the analytics platform Second Measure, Airbnb is rapidly surpassing hospitality incumbents. Since 2016, Airbnb has tripled sales, while larger hotel chains have observed sales growth of just 11 percent.

Airbnb’s annual sales have overtaken IHG and Hilton, and are well on their way to exceeding Marriott, which has dominated the industry since acquiring Starwood Hotels in 2016.

The company's long-term goal is to build an end-to-end travel platform complete with home sharing, hotel booking, business travel arrangements, experiences and more.

Related: Airbnb hotel inventory rapidly rising