Some businesses make me comfortable looking well beyond the next year or two.
I think the three ASX shares below have strong positions in their markets and clear ways to keep growing for many years.
Here is why they would be on my long-term buy list.
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REA Group Ltd (ASX: REA)
REA Group owns one of the most powerful digital platforms in Australia through realestate.com.au.
People looking to buy, sell, or rent property naturally want to use the website with the most listings. At the same time, property agents want to advertise where the largest audience is searching.
I think that gives REA Group a strong competitive position that would be difficult to replicate.
There is also more to the opportunity than simply attracting property listings.
REA Group can keep improving the tools available to buyers, sellers, and agents, including property data, personalised recommendations, and artificial intelligence. It can also build closer relationships with people as they move through the property journey, including when they need financing.
Australia should continue adding people and homes over the long term, giving REA Group an expanding market to serve.
For me, the combination of a powerful brand, enormous audience, and opportunities to make the platform more valuable makes REA Group a business I would be comfortable owning for many years.
SiteMinder Ltd (ASX: SDR)
Another ASX share I would buy and hold is SiteMinder. It gives hotels the technology they need to sell rooms and manage their presence across online booking channels.
I like the long-term opportunity because the global accommodation market remains highly fragmented.
Large hotel chains may have substantial technology budgets, but there are countless independent hotels and smaller accommodation providers that still need better ways to manage pricing, bookings, distribution, and guest relationships.
SiteMinder can bring many of those functions together through one platform.
I also like that the company has been expanding what its technology can do. Products such as Channels Plus and Dynamic Revenue Plus are designed to help hotels reach more travellers and make better pricing decisions.
Artificial intelligence could make those tools even more valuable by helping hotel operators automate more of the work involved in managing rooms and responding to changing demand.
If SiteMinder can keep adding properties while increasing the amount of technology each customer uses, I think the business could have a long growth runway ahead.
ResMed Inc (ASX: RMD)
ResMed is an ASX share operating in an area of healthcare where I think demand could continue expanding for decades.
The company develops devices and masks used to treat sleep apnoea, a condition affecting a huge number of people worldwide.
What I like is that the relationship with a patient can continue well beyond the initial sale of a device.
Masks and other components need replacing, while ResMed's digital platforms can help patients and healthcare providers manage treatment over time.
That creates an opportunity to keep serving existing patients while also reaching people who have yet to be diagnosed or treated.
Greater awareness of sleep health could help with that. Improvements in diagnosis and easier access to treatment could bring more people into the market over the years ahead.
Foolish takeaway
The businesses I most enjoy owning are those where I can see several ways for the company to be stronger five or 10 years from now.
For me, REA Group, SiteMinder, and ResMed are three shares I would be happy to hold patiently for the long term.
