Airbnb users spent $2.4b on U.S. lodging in 2015
Airbnb Inc.’s presence in key markets throughout the United States is growing at a rapid pace, with users spending $2.4 billion on lodging in the United States over the past year, according to analysis of the room-sharing company from CBRE Hotels’ Americas Research.
Over the study period of October 2014 to September 2015, more than 55 percent of the $2.4 billion generated was captured in only five U.S. cities (New York City, Los Angeles, San Francisco, Miami and Boston) and represents a significant portion of the lodging revenues in these markets.
“It seems reasonable that Airbnb will impact hotels in two ways,” says R. Mark Woodworth, senior managing director of CBRE Hotels. “For existing hotels, the growth of average daily rates will most likely be curtailed. The fluid nature of Airbnb’s supply suggests that traditional hotel’s historic price premiums realized during peak demand periods will be mitigated. The other impact may be on new hotel constructio