In the past eight years, Airbnb has become a major force in the vacation rental industry, changing the way people think about lodging. In a new survey, Goldman Sachs Group Inc. found that guests who use Airbnb are 50% less likely to choose to stay in traditional hotels.
“‘We find it interesting that people ‘do a 180’ in their preferences once they use P2P [peer-to-peer] lodging. They move directly from preferring traditional hotels to preferring P2P accommodations.’”
The study also illustrates how P2P lodging has become more common and popular among a variety of groups, demonstrating how rapidly the industry is growing and how it is unlikely to go away anytime soon.