New figures have been released to outline the effect of Airbnb growth on hotel revenue across the US.

Properties have been added to the platform at an “exponential” rate over the past decade, and every 1% increase has decreased hotels’ average RevPAR by 0.02%, therefore its supply doubling on average every year has led to 2% fall in hotel revenue.

Hotel occupancy has also declined, in luxury markets as well as lower-end segments of the lodging industry, although has had less effect on midscale and independent hotels.

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