Airbnb Now Lists More Rooms Than Hilton
Airbnb now officially lists more than 1 million rooms through its platform. That means the shared economy standout can theoretically accommodate more travelers than Hilton, Marriott and other traditional giants of the lodging industry. But as the New York Times points out, the health of the travel sector in general has also kept chain and boutique hotels afloat and, perhaps, muted their attempts to crack down on Airbnb, which has risen to prominence just seven years after its founding.
But recent findings suggest the establishment's patience with Airbnb may soon dissipate. One Boston University study concluded that for each 10% rise in the number of Airbnb rooms listed in Austin, that city's hotels faced a 0.35% decrease in monthly hotel room revenues. New York's hotel room price acceleration has slowed from peak rates during the economic recovery, although that may also be attributed to an ever-growing supply of new rooms. Finally, Airbnb has matured from its beginnings as a backpacker favorite to become popular with business travelers often locked out of traditional rooms in cities hosing major conventions. [NYT]