The results of STR’s study of Airbnb’s impact on the New York City hotel market during holidays and events are mixed. The data reveals that hotels gained significant occupancy and rates during some events, but experienced slight declines during others. The study says that Airbnb is likely taking some of the demand, but is also adding demand to the market, particularly in New York boroughs with a smaller hotel presence. According to the data, the largest increases in Airbnb supply and demand occurred between Christmas and the New Year in 2014. Hotel occupancy was around 1 percent higher than Airbnb on Christmas Day and New Year’s Eve. The second largest spike was over Thanksgiving weekend. In 2015, STR found hotel occupancy was down 2 percent, while Airbnb occupancy growth was up 25 percent. For more findings, click here.
