New Study Compares Airbnb to Hotels

As Airbnb’s presence grows in key U.S. markets, so too does its impact on the hotel industry. According to analysis from CBRE Hotels, travelers spent $2.4 billion on Airbnb lodging in the United States from October 2014 to September 2015. More than 55 percent of that $2.4 billion was captured in five U.S. cities: New York, Los Angeles, San Francisco, Miami, and Boston. Possible implications for the hotel industry could include a decrease in average daily rate growth and a slow down in new hotel construction. To help hoteliers measure potential risk in their market, CBRE has developed an Airbnb Competition Index. To read more, click here.