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+--- Thread: THE HOTEL INDUSTRY ,AIRBNB EFFECT (/thread-920.html)
THE HOTEL INDUSTRY ,AIRBNB EFFECT - TEAM HARLFORUM - 07-27-2016
Within the past six months, several published studies conducted by recognized firms have analyzed and opined on the level of impact Airbnb is having on the lodging industry.
- A report by HVS Consulting & Valuation that was commissioned by The Hotel Association of New York City found “a direct loss of US$451.4 million last year as a result of Airbnb”
- CBRE issued a report that concluded “New York to be the market most at risk in the country to competition from Airbnb and that Airbnb has and will continue to encroach on the business of the traditional lodging industry”
- Smith Travel Research issued an analysis that concluded “there is little evidence that Airbnb is leading to fewer compression nights or reducing pricing power on those nights”
- Goldman Sachs concluded that Airbnb has already caused massive changes in the way people travel and while consumers may have initially been hesitant to try the service, a new survey shows that once they switch, they do not go back to hotels