An analysis by STR Global has concluded that that the spectacular emergence of Airbnb as an alternative accommodation channel has had “no measurable effect” on Manhattan hotel bookings.
Airbnb provided with STR with internal data on its Manhattan operations which it compared with hotel performance in the NYC borough in the two years to November 30, 2015.
“We wanted to compare data for both sides to give hoteliers a true picture of Airbnb’s effect on the industry because it is a dominant player in the shared-accommodations space,” said Amanda Hite, STR’s president and COO.
Analysis of the supply, demand and revenue figures revealed:
- During strong demand nights for Airbnb units, there was no pattern of adverse effects on hotel occupancy or average daily rate.
- There is no evidence that indicates every room occupied by an Airbnb guest is a room subtracted from hotel occupancy.
- Significant occupancy levels for Manhattan hotels indicate the existence of a large amount of unaccommodated demand.
“The results did not show Airbnb’s growth to have a severe impact on hotel performance, as many in the industry believe,” Hite said.
However, “Continued analysis to understand the key performance indicators of the hotel industry and other paid accommodations will be crucial to further understand the operating environment.”