:quality(75))
CBRE's latest report on Airbnb, commissioned by the hotel industry, said the company provides far more than casual home-sharing services.
Paid for by the American Hotel and Lodging Association and conducted by CBRE, the analysis said Airbnb is akin to a professional short-term rental business, the Wall Street Journal reports. The report said Airbnb’s fastest-growing U.S. revenue producers are hosts who rent out two or more properties a month. These hosts produced over $1.8B last year yet only $611M in 2015 — talk about rapid expansion.
The report comes as cities around the world battle Airbnb, saying the firm provides a platform for illegal hotels. Airbnb spokesman Nick Papas said the study was a misleading attempt by the hotel industry to hurt competition and ignored thousands of listings on the website put up by hoteliers themselves.
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