Core Insights - Tapasya Fund achieved a net return of 23.5% in 2025, outperforming the S&P 500's return of 17.9% [1] - The fund's performance was bolstered by developments in tariffs and the influence of Artificial Intelligence (AI), which helped the market reach over 38 new all-time highs [1] - The fund aims to mitigate sector-specific risks to avoid significant impacts on the portfolio during market downturns [1] Company Insights: Airbnb, Inc. (NASDAQ:ABNB) - Airbnb, Inc. reported a revenue of $4.1 billion in Q3 2025, reflecting a year-over-year increase of 10% [4] - The stock had a one-month return of 8.00% and a 52-week gain of 6.97%, with a closing price of $138.66 per share on January 8, 2026, and a market capitalization of $84.893 billion [2] - Tapasya Fund sold its position in Airbnb, citing opportunity cost for redeploying capital into potentially higher-return investments, exiting at a small profit [3]

Citi Research Jan 5, 2026 Pan-Asia Internet Pan-Asia Internet Analysts | | Country | Contact Details | | | --- | --- | --- | --- | | Asia Pacific | | | | | Alicia Yap | Head of Pan Asia Internet Research | +852 2501 2773 | alicia.yap@citi.com | | Brian Gong | China Internet | +852 2501 2747 | brian.gong@citi.com | | Vicky Wei | China Internet | +852 2501 2489 | vicky.wei@citi.com | | Nelson Cheung | China Internet | +852 2501 2728 | nelson.cheung@citi.com | | Ferry Wong | Asean Internet | +62 21 2924 9213 | ...

Core Insights - 2026 is anticipated to be a breakout year for companies that have been rebuilding after facing challenges such as reduced demand and pandemic-related disruptions [3][7] - Companies like Royal Caribbean, Take-Two Interactive, and Airbnb are positioned for strong performance, driven by factors such as travel demand and major content launches [7] Royal Caribbean - Royal Caribbean Cruises has seen a significant recovery, with shares increasing by approximately 275% over the last five years due to a resurgence in demand and increased bookings [4] - The company's full-year 2025 guidance for adjusted earnings per share (EPS) has been raised to a range of $15.58 to $15.63, reflecting a year-over-year increase of about one-third [6] - Sustained consumer spending, particularly among younger demographics prioritizing experiences, will be crucial for Royal Caribbean's continued success in 2026 [5] Market Conditions - The overall market sentiment and consumer confidence will play a critical role in the performance of companies like Royal Caribbean, especially in terms of cruise bookings and on-board purchases [5] - Despite the positive outlook, potential challenges such as higher tax and fuel costs could impact near-term operating cash flow, which is projected to reach $6 billion [6]

Core Insights - The article discusses the investment positions held by analysts in companies such as EXPE and BKNG, indicating a positive outlook on these stocks [1]. Group 1 - Analysts have disclosed beneficial long positions in EXPE and BKNG, suggesting confidence in the future performance of these companies [1]. - The article emphasizes that the opinions expressed are personal and not influenced by external compensation, highlighting the independence of the analysis [1]. Group 2 - The predictions and projections mentioned are median estimates by financial analysts, which come with inherent uncertainties [2]. - The article notes that past performance does not guarantee future results, indicating a cautious approach to investment advice [3].

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Online Vacation Center Holdings Corp. (OTCQX: ONVC), announced today that the company has declared a cash dividend of $0.02 per share on its outstanding shares of Common Stock. This dividend will be payable on May 15, 2026 to stockholders of record at the close of business on March 31, 2026. "We are pleased to announce this dividend,†said Stephen A. Rudner, President of Online Vacation Center Holdings Corp. "The Board felt that the Company's performance. ...

分组1 - Airbnb is a dominant player in the short-term rental market, exhibiting a strong brand moat and generating significant cash flow, which positions it as a potential winner in the stock market [1][2] - The company reported a revenue growth of 10% in the most recent quarter and anticipates high single-digit growth in the upcoming quarter, indicating reasonable growth in an expanding market [1][2] - Airbnb has invested $200 million in experiences and services, with half of its bookings in the third quarter not tied to a place to stay, showcasing a trend towards experiences rather than just accommodations [4] 分组2 - Airbnb's competitive position allows for patience among investors, as it is not burning cash and is actively buying back shares while exploring new business opportunities [4][5] - The co-founder and CEO, Brian Chesky, is living in different Airbnb properties, which may resonate with older travelers and enhance the brand's appeal [6] - Traditional hotels are increasingly listing their properties on Airbnb, sometimes at lower prices than on aggregator sites, indicating a potential growth driver for the company [7][8] 分组3 - Analysts believe that while Airbnb has compelling valuation metrics, there is skepticism about its ability to deliver significant growth in the near term [20] - The overall sentiment among analysts is that Lululemon may have a clearer path to doubling in value over the next five years compared to Airbnb, despite Airbnb's strong market position [18][20]

Trip.com has started to allow some overseas users to pay for prepaid hotel and flight bookings with the stablecoins USDT and USDC - also known as Tether and USD Coin - in a sign of growing acceptance of the US dollar-pegged tokens. The Shanghai-based online travel group enabled stablecoin payments on October 9, according to a customer service agent, with the option appearing for users in certain regions when they booked prepaid deals through Trip.com's international platform. The move - which comes even ...

Core Insights - Airbnb's shares have underperformed the market in 2025, with a 5% increase compared to the S&P 500's 18% total return [1] - The company is focusing on key trends for 2026, including expanding its user base and enhancing its service offerings [1][5] Economic Moat - Airbnb has established a strong brand presence and network effect, with 5 million hosts and 8 million active listings, making it a dominant player in alternative accommodations [3] - The brand's name has become synonymous with the service, indicating significant mind share [3] Growth Initiatives - The introduction of new services and refreshed experiences has attracted new customers, with first-time bookings increasing over 20% in Japan and nearly 50% in India year-over-year [4] - These initiatives are expected to contribute to Airbnb's continued expansion and strengthen its brand and network effect [5] Financial Performance - Airbnb reported $4.5 billion in free cash flow over the last 12 months, representing 38% of total revenue during that period [6] - Analysts project an operating income of $3 billion for 2026, reflecting a 15% year-over-year increase, which is expected to outpace revenue growth [7] Market Conditions - Consumer confidence in the U.S. is under pressure, affecting discretionary spending, which could impact demand for Airbnb's services [8][9] - Travel expenses are sensitive to macroeconomic changes, making it crucial for investors to monitor economic performance in the upcoming year [9]

Group 1 - The "Village Sugar Festival" in Huo Qiao Village, Jianyang City, will host a 21-hour continuous urban-rural integration celebration from December 31, 2025, to January 1, 2026, marking a new approach to New Year celebrations and showcasing a future of urban-rural symbiosis [2] - The event is described as a deep exploration of the integration of agriculture, commerce, culture, tourism, and sports, providing a complete local living experience from the end of the year to the beginning of the new year [2] Group 2 - Lenovo Group plans to launch its first global "AI Super Intelligent Agent" during CES, which is positioned as a strategic application for the company [3] - This AI application is expected to have capabilities similar to ByteDance's "Doubao Mobile Assistant," indicating Lenovo's comprehensive push into AI applications [3] - Unlike ByteDance's cross-industry collaboration model, Lenovo aims to leverage its hardware foundation to efficiently manage multiple intelligent agents, enhancing user experience through cross-device connectivity and task scheduling [3] Group 3 - Qunar Travel reports that December 27 will see the first wave of travel peaks for the New Year holiday, with popular long-distance routes such as Shenzhen-Harbin and Beijing-Kunming experiencing higher passenger numbers than December 31 [4] - Major cities like Shanghai, Beijing, Guangzhou, Chengdu, Shenzhen, Hangzhou, Chongqing, Kunming, Sanya, and Haikou are identified as the top ten domestic departure cities for that Saturday [4] - The upcoming three-day "mini-holiday" for New Year is expected to significantly boost consumer spending and travel intentions, leading to a vibrant tourism market characterized by high booking activity and diverse travel options [4]

Colin Sebastian is Barrett, senior internet analyst. Colin, welcome to you. Do you how do you expect them to flip the narrative here.>> Yeah, hi Kelly. Thanks for having me. So, you know, our point today is is not to say that they're not legitimate concerns over over margins and investments by Meta.In fact, we've highlighted those for several months. Um, but what we're nudging investors to do is look a little bit further ahead. Uh, especially given the importance of the AI theme.Uh Meta will be launching a ...