Airbnb is the social way to stay, as an increasing number of travelers are using the home-sharing site in order to secure affordable, local accommodations for their next trip.
While you shouldn’t feel threatened, you should definitely keep an eye on this company. Here’s all the latest news surrounding Airbnb, which is making headlines:
In 2010, New York City banned short-term sublease agreements that lasted for less than 30 days, but that law only penalized the owners of the apartment units.
According to a report published on Crain’s New York, the state legislation is seeking to ban renters from advertising short-term sublets on Airbnb and similar sites. The bill has bipartisan support.
Tnooz recently reported that about 20 percent of business travelers aren’t sure if they are able to book rooms through the Airbnb platform.
The report was based on a study released by the GBTA Business Traveler Sentiment, which also reported that 28% of the 3,500 business travelers surveyed used Airbnb to book corporate travel.
A recent report on Skift.com revealed that Airbnb received $1 billion from several large U.S. banks in order to help fund the growth and development of the home-sharing site.
J.P. Morgan Chase, Bank of America Group, and Citigroup all participated in the deal which provided Airbnb is a $1 billion debt facility. There also were reports circulating that Morgan Stanley was part of the effort. By receiving this funding, Airbnb is able to focus on global growth and development.
Many travelers opt to use Airbnb in order to immerse themselves in the local culture during the duration of their trip.
Videos showcasing the local area can help convince guests to book at your property, and a destination guide can be uploaded in order to provide guests with an intimate knowledge of the region.
OTAs focus on selling rooms for hotels in destinations across the globe, and they might be slightly startled by the quick growth of Airbnb.
However, a recent report released by PiperJaffrey and discussed on a HotelMarketing.com article, OTAs do not have to worry that Airbnb will stunt their growth. Airbnb focuses on home-sharing, and is not expected to begin selling hotel rooms in the near future.
Since this is not a priority for Airbnb, and it is not expected to become one in the next five years, OTAs will still continue to be a powerhouse in the travel industry. The report notes that Airbnb is focused on travel in China, business travel and vacation rental homes.
While it might be easy to be intimidated by the epic growth of this social experience, small hotel operators do not have anything to fear.
By providing a personalized experience and highlighting the local culture of the area, small hotels are able to compete with Airbnb.
Ultimately, Airbnb proves that more travelers are looking for authentic experiences while they travel, and that’s the type of experience that B&Bs and small hotels specialize in.
Sign up to our blog and receive regular updates on the content you're intoSign up now
Send this to a friend