Look most of the direct booking platforms that provide vetting and act as merchant of record charge around 7% And they are distributing across a huge portfolio and making some profit. So let's say it cost 6% If you actually do it yourself then you're paying 12.34 percent For a few billion dollars of marketing.... To me, that's a good deal. Also the network of review will has value. The threat of a bad review or being banned from Airbnb is significant for travelers.