Last week, part one of our report on Airbnb looked at the home-sharing giant’s impact on hotel business performance. We reported on a study that shows for every 100 percent increase in Airbnb accommodations in a market, hotel RevPAR declines by an average 3 percent.
We also reported a growth in the number of whole houses on online distribution channels as homes become “investor units.”
Meantime, more everyday homeowners have warmed up to the idea of making some extra money by sharing their digs with short-term travelers.
This week, in part two, we explore what’s good and smart about Airbnb and how hotels can successfully vie for travelers’ bookings and loyalty. We also take a look at new lodging trends spurred by the home-sharing movement.
We talk to Leslie James, head of marketing at AirDNA, a data research platform for the home-sharing industry. We hear from Paul Breslin of Horwath HTL and Mark Woodworth of CBRE Hotels Americas Research about the new generation of travelers driving the home-sharing trend. We also talk more with Makarand Mody, a researcher and assistant professor at Boston University School of Hospitality Administration who has published several studies about Airbnb and the home-sharing phenomenon. And with Hans Detlefsen of Hotel Appraisers and Advisors, who has ideas about hotel companies adopting some Airbnb business practices.
CHMWarnick and Pinnacle Advisory Group in April announced their decision to strategically align their businesses and bring more services and solutions to a hotel industry still in the throes of the coronavirus crisis. While properties in many markets are experiencing a business revival led by leisure travel, many others continue to work their way out of a maze of financial challenges. Lodging Leaders explores the partnership and what it signals for the industry as it pushes toward a post-pandemic recovery.
Frances Kiradjian understands resiliency. The Los Angeles businesswoman founded Boutique & Lifestyle Leaders Association 12 years ago at the dawn of the Great Recession. Today, the association boasts hundreds of members from all over the world and is the hallmark for independent boutique lifestyle hotels. During the pandemic year 2020, Kiradjian watched boutique hoteliers dig deep for creativity, operational courage and a positive outlook as the hotel industry quickly spiraled into crisis mode. Episode 325 of Lodging Leaders podcast features Kiradjian in the third and final installment of its series on independent hotels doing business amid the coronavirus crisis.