According to a joint report by Colliers International, Hotelschool The Hague and AirDNA, Airbnb is pulling down rates in London.

Five areas – Westminster, Tower Hamlets, Camden, Kensington & Chelsea and Hackney – were responsible for over one million Airbnb overnight stays last year, the majority of the capital’s Airbnb supply at almost four million listings and two million overnight stays in London throughout 2015.

In January 2016, hotels saw year-on-year declines of 2% in demand, 9% in revenues and 5% in occupancy; Airbnb saw 182% growth in revenues, 126%growth in occupancy and a 206% increase in demand.

London Mayor Sadiq Khan has suggested that the city may see a tightening of its sharing laws after concerns over the impact on London’s housing stock, but Airbnb has said that its entire home listings accounted for less than 1% of housing stock and that it was talking to concerned councils.

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