In Austin, Tex., each 10 percent increase in Airbnb listings resulted in a 0.35 percent decrease in monthly hotel room revenue,
according to a study by Boston University. Less expensive hotels and those focused on leisure travelers were most affected when Airbnb developed in their area, the study found.
By any measure, Airbnb’s growth has been stunning since the company was founded in 2008. It now has more than a million rooms available in homes, apartments and even former barns — more places to sleep than hotel giants like Marriott and Hilton.
Despite this growth, though, the big hotel chains, at least outwardly, have yet to take substantial action to counter the potential threat from the upstart lodging service.
One reason is the strength of the travel market over all. Spending on hotels this year is projected to be even higher than last year’s robust outlays, according to Douglas Quinby, an analyst for Phocuswright. Other reasons include the ingrained habits of travelers, particularly older ones and business travelers on expense accounts, who see no reason to change their ways.
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