September 28, 2016
Airbnb is driving down occupancy and revenue at Miami area hotels, according to a recently released report by Moody’s Investors Service. Miami ranks as the nation’s third largest market for Airbnb, with 11,348 listings as of Sept. 12. Only New York and Los Angeles have a higher volume of listings. Yet as a percent of total lodging available, Miami ranks second with Airbnb representing 17.5 percent of the market, the report on the nation’s hotel and cruise industry noted….