爱彼迎美股招股说明书(2026-03-13版)

$850,000,000 4.400% Senior Notes due 2029$850,000,000 4.650% Senior Notes due 2031$800,000,000 5.250% Senior Notes due 2036 The 4.400% senior notes due 2029, which we refer to as the “2029 notes,” will mature on March 16, 2029, the 4.650% senior notes due 2031, which we refer to as the “2031 notes,” willmature on March16, 2031, and the 5.250% senior notes due 2036, which we refer to as the “2036 notes,” will mature on March16, 2036. We refer to the 2029 notes, the 2031 notes and the2036 notes collectively as the “notes.” We will pay interest semi-annually on the notes on March16 and September16 of each year, beginning on September16, 2026. We may redeem the notes of each series in whole or in part at any time or from time to time at the redemption prices described under “Description of Notes—Optional Redemption.” Thenotes will be unsecured obligations of ours and rank equally with our existing and future unsecured senior indebtedness. The notes will be issued only in registered book-entry form and inminimum denominations of $2,000 and integral multiples of $1,000 thereafter. The notes will not be listed on any securities exchange. Currently, there are no public markets for the notes. Investing in the notes involves risk. Please read “Risk Factors” beginning on page S-8 of this prospectus supplement and the risks described in the documents incorporated byreference into this prospectus supplement and the accompanying prospectus. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplementor the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. We expect to deliver the notes to investors in registered book-entry form only through the facilities of The Depository Trust Company, Clearstream Banking S.A. and Euroclear Bank, SA/NV,as operator of the Euroclear System, on or about March16, 2026, which is the second business day following the date of this prospectus supplement (this settlement cycle is referred to as“T+2”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), trades in the secondary market generally are required to settle in one business dayunless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes prior to the first business day preceding settlement will be required, by virtueof the fact that the notes initially will settle in T+2, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement and should consult their own advisors.See “Underwriting.” Table of Contents TABLE OF CONTENTS Prospectus Supplement ABOUT THIS PROSPECTUS SUPPLEMENTFORWARD-LOOKING STATEMENTSSUMMARYTHE OFFERINGRISK FACTORSUSE OF PROCEEDSCAPITALIZATIONDESCRIPTION OF NOTESCERTAIN U.S. FEDERAL INCOME TAX CONSEQUENCESUNDERWRITINGVALIDITY OF THE NOTESEXPERTSWHERE YOU CAN FIND MORE INFORMATIONINCORPORATION OF CERTAIN INFORMATION BY REFERENCE Prospectus ABOUT THIS PROSPECTUSWHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCETHE COMPANYRISK FACTORSUSE OF PROCEEDSDESCRIPTION OF CAPITAL STOCKDESCRIPTION OF DEBT SECURITIESDESCRIPTION OF OTHER SECURITIESGLOBAL SECURITIESSELLING STOCKHOLDERSPLAN OF DISTRIBUTIONLEGAL MATTERSEXPERTS Table of Contents ABOUT THIS PROSPECTUS SUPPLEMENT This document is in two parts. The first is this prospectus supplement, which describes the specific terms of this offering, the notes and mattersrelating to us. The second part is the accompanying prospectus dated November14, 2023, which is part of our Registration Statement on Form S-3 (FileNo.333-275550). The accompanying prospectus provides a more general description of the terms and conditions of the various securities we may offerunder our registration statement, some of which do not apply to this offering. If the description of this offering and the notes varies between thisprospectus supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement. You should read both thisprospectus supplement and the accompanying prospectus and the documents incorporated by reference herein and therein, together with the additionalinformation described under the headings “Where You Can Find More Information” and “Incorporation of Certain Information by Reference.” We have not, and the underwriters have not, authorized anyone to provide you with any information or to make any representations other thanthose contained or incorporated by reference in this prospectus supplement and the accompanying prospectus or in any free writing prospectus filed byus with the U.S. Securities and Exchange Commission (the “SEC”). Neither we nor the underwriters take any responsibility for, and can provide noassurance as to the reliability of, any other information that others may give you. Neither we nor the underwriter