November 16, 2018
Hospitality industry executives look ahead to 2019
There are headwinds ahead for some hotel brand companies and real estate investment trusts, but the overall tone on calls in regards to next year was positive.Read more
New research reveals that despite many countries introducing legislation to restrict the use of Airbnb, the company continues to grow in five main European cities – London, Amsterdam, Berlin, Madrid, and Paris.
The analysis demonstrates that guests continue to book Airbnb accommodation in the respective cities, with its share in the overnight stay market increasing by up to 3.4% since 2016.
Market share increase:
London: 5% to 6.9%
Paris:13.4% to 15.2%
Amsterdam: 10.7% to 11.8%.
Berlin: 5.3% to 6.5%
Madrid: 6.7% to 10.1%
Marc Finney, Head of Hotels & Resorts Consulting at Colliers International commented: “In all cities, it’s clear that Airbnb is here to stay and has become a mature alternative for traditional hotels. With Airbnb, guests have more options to choose from and it’s also a cheaper alternative to hotels.
“As the scale grows, the lack of regulation becomes a greater concern to many, and rightly so. It is interesting though that despite the growth, we’re seeing relatively little negative impact on the hotel sector with London hotels achieving similar results to last year. In a lot of ways, Airbnb is a different product offer, and one that now benefits from better visibility. Despite its growing influence, we’re still finding strong business cases for proposed hotels in our development advisory work.”
Download the report at Colliers (PDF 230 KB)
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