Shared accommodation is on the march, throwing up a real challenge to traditional providers such as hotels, with a survey from PhoCusWright showing 13% of Australians rented shared space in a private home or apartment during 2014.
‘The Global State of Shared Space’ reveals that the booming sector is even more popular among Chinese, Brazillian (18%) and Russan (17%) travellers.
In the US and UK 9% of travellers had rented shared accommodation.
Airbnb is far and away the market leader; other major sites include Wimdu, Travelmob, Tripping.com, BedyCasa and Homestay.com.
“Younger travellers are far more likely to rent shared spaces across all markets,” the report says.
“This reflects both the price-sensitivity of younger, less affluent adults as well as the close connection to the educational travel industry and its long-standing cultivation of homestay accommodations for college, gap year and language school students.”
But PhoCusWright says the market is ‘more than just Millennials’.
“The percentage of older travellers (35 and up) who booked these accommodations last year reached or surpassed 10% across several markets, including France, Germany, Russia and Brazil.”
Money also matters because a lot of shared space travellers don’t have a lot of it.
They are tight and chase the cheapest deals.
Cultural immersion is also important for share travellers, who are typically very switched on and use technology for virtually everything.
“Shared space renters are much more likely to use online sources and mobile devices for trip planning.”
The report doesn’t comment on the impact shared space may or be not having on the hotel industry.
But you don’t have to be Einstein to work it out.