Here's Proof Airbnb Is Shaking Up the Global Hospitality Industry | thestreet.com
According to a recent report from Boston University, a 10% increase in Airbnb supply results in a 0.35% decrease in hotel room revenue, which translates into a 13% impact on revenue in Austin, Texas, which is home to the highest Airbnb supply. The report's authors -- Georgios Zervas, Davide Proserpio and John W. Byers -- also found that lower-priced hotels and hotels that don't cater to business travel are the most affected by Airbnb. As a result of these impacts, the researchers found, hotels are reducing prices in an effort to stay competitive.
