More than 10 years ago, the short-term home rental industry began to shapeshift with the birth of Airbnb.
The technology company has quickly grown from a small peer-to-peer home-sharing platform into a virtual behemoth with more rooms than any hotel company on the planet.
Today, Airbnb has more than 4 million listings in nearly 100,000 cities, and two million people stay in an Airbnb-listed home every night.
In this episode, we examine the impact of Airbnb’s growth on U.S. hotel performance. It’s big topic, so we broke it down into two parts.
In this first installment, we talk to Makarand Mody, an assistant professor at Boston University’s School of Hospitality Administration and co-author of the academic paper on Airbnb’s disruptive impact in key hotel markets. We hear from Hans Detlefsen of Hotel Appraisers and Advisors, which studied Airbnb’s market share of U.S. lodging demand, and from Thomas O’Shaughnessy, head of research at Clever Real Estate, an online agency. We also share information provided by Airbnb, which declined to provide someone to interview.
The coronavirus pandemic has disrupted the global supply chain. With most whole goods and components coming from China, the U.S. hospitality industry began to scramble in January to keep the supplies coming. Manufacturing has resumed in China as the crisis has reportedly eased there, but the outbreak has yet to reach its peak in the read more
The U.S. hotel industry has practically grinded to a halt in the wake of the coronavirus crisis. As Lodging Leaders shared in our previous report, Episode 260, hotel business performance has declined to unprecedented levels. Another area of the industry that the COVID-19 pandemic is impacting is hotel transactions. Properties remain on the market, but read more