News
Airbnb Has the Lodging Sector Freaked Out, But Hotels Can Rest Easy, Researcher Says
August 12, 2015
Even though Airbnb's collecting rooms at a record pace—it now has more rooms than the Hilton—hotel managers remain unfazed. Instead, hoteliers say they see the community-driven site creating new demand among Millennials. Despite the optimism, research provider Fitch Ratings remains skeptical, GlobeSt reports. The researcher insists that with 1.5 million rooms worldwide, Airbnb will leave a huge imprint on the entire lodging sector, particularly hotel RevPAR. While Airbnb is unlikely to penetrate the high-end lodging market, lower-rate extended stay hotels face the biggest threat from the community, Fitch says. Threats aside, hoteliers can rest easy as Fitch projects domestic RevPAR to increase by 7% in 2015. [GS]
