Airnbn in New York City (source: insideairbnb.com)
WASHINGTON, D.C. -- The American Hotel & Lodging Association (AH&LA) released a new study today conducted by researchers at Penn State University's School of Hospitality Management offering the first, comprehensive national look at the rise of commercial activity on Airbnb, one of the most trafficked short-term rental platforms. The analysis tracks data collected during a 13-month period (September 2014-September 2015) in 12 of the nation's largest metropolitan statistical areas (MSAs): New York, Chicago, Los Angeles, Philadelphia, Miami, Houston, Dallas, Phoenix, San Antonio, San Diego, San Francisco, and Washington, D.C.
The study: "From Air Mattresses to Unregulated Business: An Analysis of the Other Side of Airbnb" focuses on "hosts" in these top markets who rent multiple units and the length of time they are renting their units. It tells a very different story about who is driving revenue on the site.
Among the key findings in the report:
"The study shows an explosion in activity among multi-unit hosts and the rise of full-time operators in each of the 12 markets we analyzed. Further, operators renting out three or more units represent a disproportionate share of revenue with only 7 percent driving more than $325 million in the period studied," said Dr. John O'Neill, Professor and Director of the Center for Hospitality Real Estate Strategy at Pennsylvania State University, who directed the research.
"Our industry thrives on competition each and every day, operating on a level and legal playing field. And we believe new entrants to the market like Airbnb and the commercial businesses they facilitate have those same obligations," said AH&LA President and Chief Executive Officer Katherine Lugar. "Unfortunately, this report shows a troubling trend as a growing number of residential properties are being rented out on a full-time, commercial basis, in what amounts to an illegal hotel, and using Airbnb as a platform for dodging taxes, skirting the law and flouting health and safety standards.
"This is not about 'home sharing,' a practice that has existed for decades as a way for individuals to make a little extra cash by renting out the occasional room or home. But this data tells a very different story than the one told by Airbnb, who wants the face of Main Street but the wallet of Wall Street. As a corporation valued at more than $25 billion, they have a responsibility to protect their guests and communities; they should not be enabling the corporate landlords who are clearly using their platform to run illegal hotels."
The full report is available for download on the AH&LA website at http://www.ahla.com/uploadedFiles/_Common/pdf/PennState_AirBnbReport_.pdf
The American Hotel & Lodging Association (AHLA) is the largest hotel association in America, representing more than 30,000 members from all segments of the industry nationwide – including iconic global brands, 80% of all franchised hotels, and the 16 largest hotel companies in the U.S. Headquartered in Washington, D.C., AHLA focuses on strategic advocacy, communications support, and workforce development programs to move the industry forward. Learn more at www.ahla.com.
 CBRE Hotels’ Americas research estimates Airbnb users spent $2.4 billion on lodging in the U.S. over the past yearTuesday 2 February 2016 |
Contact
Katie Longo
Email: klongo@ahla.com
Organization
American Hotel & Lodging Association (AHLA)
https://www.ahla.com/
1250 Eye Street, N.W., Suite 1100
USA
- Washington, DC 20005
Phone: +1 202-289.3100
Fax: +1 202-289-3199
Email: info@ahla.com
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