“That’s particularly true when hoteliers begin marking their competitive differentiation on price
—the average price of an Airbnb listing in NYC hovers slightly above $200/night and is well below the average cost of a hotel room in, say, Manhattan.”
“Is anyone worried about Airbnb?â€
Nary a hand was raised when Mark Woodworth asked that question from the main stage at the Hunter Hotel Conference. The head of PKF Hospitality Research had to peer into the sea of some 1,200 attendees, hand above his squinted eyes like a sailor gazing into a foggy horizon, to find any. There were maybe five in all.
“Well, I’m going to talk about it anyway,†Woodworth said.
He was right to do so. The peer-to-peer accommodations platform is a threat to both demand and rate. We’ve documented that fact time and time again. Hoteliers just don’t want to hear it.
This dismissive attitude is based on the fact that it takes a lot of Airbnb supply to truly steal share. To reach that mass, Airbnb needs a strong concentration of willing hosts in high-demand markets such as New York City and San Francisco.
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