September 26, 2016
The U.S. hotel industry’s robust recovery from the recession is expected to slow down next year partly because of growing competition from short-term rental companies like Airbnb. That is one of the conclusions of a Moody’s Investor Service analysis that provided a rare look at data on how short-term rentals are affecting the lodging industry. The Moody’s report noted that Airbnb has been growing rapidly, to more than 2 million listings worldwide from 300,000 listings in 2014. In comparison, the conventional lodging business offers 15.7 million hotel rooms around the globe. Moody’s revised its outlook for the lodging and cruise industries to stable from positive, with occupancy declining as much as 1% in 2017 “due to increasing supply, the likely toll from Airbnb competition and weak corporate profit growth,” the report said….