Market Overview

Airbnb Is Making A 'Noticeable Dent' In The Hotel Industry

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2015 was a good year for the hotel industry, according to Quartz, citing a research report by STR Global - a hotel industry research firm. However, Airbnb is becoming a "more noticeable dent" in the industry.

According to the research report, Airbnb represents only 1 to 2 percent of total hotel demand, but in some of the largest markets, Airbnb makes up 5 to 7 percent of hotel demand.

Meanwhile, Airbnb's total listings are estimated to make up 2 to 4 percent of the overall hotel room supply, but, in the largest U.S. markets, Airbnb could account for 8 to 15 percent of the total hotel supply.

Airbnb's impact on the hotel industry is noticeable in large cities, particularly New York City. Quartz noted that the Hotel Association of New York City released a report that estimated Airbnb contributed to a "direct loss" of $451 million to the hotel industry from September 2014 to August 2015.

 

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Posted-In: Airbnb Hotel Sector New York City Hotels Quartz STR GlobalNews Travel General

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