Is Airbnb a threat to the hotel industry? We have seen industry disruption before – and no I don’t mean the buggy-whip and candlestick makers from around the turn of the 20th century. I’m talking about how Uber and Lyft have revolutionized getting a ride from point A to point B – remember YellowCab? So is it now time for the hospitality industry to be disrupted? A recent article in US News & World Report explores that subject and concludes that, no, they’re not a threat to the hotel industry per se….However they have started to grab a larger share of business travelers and as such, the industry as a whole had better change or they too could have some of their own going the way of Yellow Cab.
“Traditional providers see the rise of Airbnb as an attack,” says Jeffrey Margolis, a partner at the Berger Singerman law firm in Florida who deals extensively in real estate law.”
“By dramatically lowering the barriers to entry to the hotel industry – now all one needs is a spare room and a few basic household safety items – Airbnb has brought millions of new rooms to the market…The hotel industry isn’t just going to take this lying down, though. Three of Airbnb’s largest markets, New York, San Francisco, and Miami, are cracking down.”
Click here to read the full story on USNews.com.
