The sharing economy has hosted more than 100 million guests in the past 10 years, and ASAP Business Partner JLL worked with the Hawaii Tourism Authority to survey the specific local impact of accommodation sharing.
33,000 recent visitors to Hawaii were asked whether the opportunity to rent accommodation outside hotels was encouraging additional tourists to the region, and why they chose rented accommodation for their visit. 61% of those surveyed paid less for their home rental than the average hotel room in Hawaii, and these were people who were less likely to have visited without the option of home share. There was little overlap between tourists who regularly stay in hotels and those who choose a home or vacation rental, and rentals were especially popular with larger groups travelling together, and used more for leisure rather than business travellers – this is especially the case in resorts rather than cities.
JLL’s research predicts a near-term slowdown of growth in the shared accommodations industry, especially in major US gateway markets, since those looking to rent accommodation are mainly already operational, and there is an increase in city regulations.
JLL’s conclusion is the need for a registration system that encourages rental hosts to be open about their accommodation without facing too many regulations, leading to hotels and rentals living in closer harmony.