The Real Deal New York

Could Airbnb have actually helped hotels?

When nearly a third of travelers prefer private accommodations over hotels, that's not a bad thing
March 04, 2018 05:20PM

(Credit: Pexels)

Though it may seem counter-intuitive, Airbnb has, in its way, helped hotel bookings remain steady by taking nearly a third of travelers out of concierges’ hands.

According to The Atlantic, the construction rates of hotels hasn’t kept up with demand, so, if it weren’t for the disruptive network of private rentals, travelers might be facing sky-high hotel rates.

Though the tech-fueled short-term rental firm is often positioned as a competitor to the hotel industry — for an example, take Accor’s recent announcement of its intention to offer a luxurious experience with similar features to Airbnb — there might be a fine balance of, dare we say it, co-existence between the company and hoteliers.

In fact, Marriott International and Hilton both reported stock prices up over 40 percent in the past year and, to date, 2017 was the best year on the books for U.S. hotel occupancy. [The Atlantic]Erin Hudson