Barclays: Airbnb Usage To Surpass Hotel Cos., But Not For Business Travel
Airbnb bookings are on track to outpace the largest hotel companies within a few years, although the room-sharing platform is unlikely to become a major player in the business travel space anytime soon, according to a research note published on Friday by Barclays.
In terms of size, Airbnb already has overtaken the largest hotel companies. During the past year, the number of rooms available through Airbnb has grown from about 300,000 to about 1 million, Barclays European leisure analyst Vicki Stern wrote in the note. By comparison, as of the 2014 BTN Business Travel Survey, the largest hotel company measured by rooms, InterContinental Hotels Group, had a portfolio of about 687,000 rooms.
While there is not a direct comparison by size—not all of Airbnb's listings are available year-round, for example—its listings could double within the next year, according to Stern. She estimated that Airbnb's current bookings are about 37 million room-nights per year, about one-fifth of what IHG sold last year, but its growth could have it outpacing IHG's bookings within two or three years.
Even so, it will remain mostly a leisure player during that time, with only about 10 percent of Airbnb bookings currently used for business travel, she added.