New research from Florida State University finds Airbnb’s exponential growth worldwide is devouring an increasing share of hotel revenues and also driving down room prices and occupancy rates.
“Increased competition from Airbnb is mainly affecting hotel prices and revenues, but occupancy rates are also down slightly.”.
Over the past 10 years, Airbnb has grown into the world’s largest online marketplace for lodgings and now qualifies as a disruptive innovation, Dogru said.
His research, published in the journal Tourism Management, examined the effects of Airbnb in 10 major U.S. cities between 2008 and 2017.
Past research concluded room prices were so similar between midscale hotels and most Airbnb listings that consumers were not motivated to switch to Airbnb.
The study found increasing demand for authenticity in lodging, and travelers felt Airbnb properties were more authentic than franchised hotels.
“Airbnb is still in its infancy, and more hosts are being added to its supply every day in many markets. »
![image for [SPOILERS] I believe Season 1 Tyrion foreshadows Season 8 Bronn](ff52879f-0fe3-507a-bb53-d29dc3ac9fc3_thumb.jpg)
