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Airbnb Exploration

Delivered May 2nd, 2019. Contributors: Elizabeth W., Norman, Michael W., Rosalind R., Eunice O., Darius G., Rachael A., Blessing I., Ashley N., Dagmawit W., Josh T., Niti and

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Part
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Sharing Economy - Airbnb Share of Top Markets

The Airbnb revenues of the top 5 lodging markets in the U.S. in 2018 were; Las Vegas with $100 million in revenue, New York City with $805.32  million in revenue, Los Angeles with $613 million in revenue, Washington, D.C. with $96 million in revenue, and Orlando, FL with $131.8 million in revenue.

Research Strategy

In order to determine the top five hotel markets in the U.S., we made use of the Hospitality Net 360 report and a previous request titled "Sharing Economy - Top Hotel Markets,." which reported the top five hotel markets in the U.S. as Las Vegas, NV, New York City, NY, Los Angeles, CA, Washington, D.C., and Orlando, FL.

AIRBNB LODGING MARKET SIZE PER AREA

LAS VEGAS, NV

In 2018, Airbnb in Las Vegas reached $100 million in revenue with 718,400 users. The hotel revenue was $13 billion.

NEW YORK CITY

In 2018, Airbnb in New York reached $805.32 million in revenue. Their hotel revenue, on the other hand, was $11 billion.

LOS ANGELES

In 2018, Airbnb in Los Angeles reached $613 million in revenue with 2.7 million users while the hotel revenue was $6 billion.

WASHINGTON, D.C.

In 2018, Airbnb in Los Angeles reached $96 million in 2018 with 517,500 users. Like Los Angeles, the hotel revenue was $6 billion.

ORLANDO, FL

Orlando’s hotel revenue was $6 billion in 2018.

Since Orlando is composed of the 4 counties Osceola, Lake, Orange, and Seminole, we used the following data points to calculate Orlando’s total Airbnb revenue:

The calculations are as follows:
Osceola $82.6 million + Orange $40 million + Lake $6.5 million + Seminole $2.7 million = $131.8 million Airbnb revenue in Orlando, FL.
With this, we determined that Orlando's Airbnb revenue reached $131.8 million in 2018.
Part
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Part
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Sharing Economy - Top Hotel Markets

The top 10 hotel markets in the United States based on revenue include Las Vegas, NV, New York, Los Angeles, Washington, D.C., Orlando, FL, Chicago, IL, San Francisco/San Mateo CA, Miami/ Hialeah FL, San Diego, CA and Boston, MA.

Research methodology

In our efforts to provide a list of the top 10 hotel markets in the U.S. based on revenue, we leveraged data from credible databases in the hospitality industry such as Lodging Magazine and Hospitality Net 360. These sources were helpful in providing authoritative data of the top hotel markets in the US as provided by STR Global, a leading provider of "premium global data benchmarking, analytics and marketplace insights across multiple market sectors".

Next, we worked on establishing the estimated percentage (using a bar graph) of each market so that we could establish the approximate revenue of each of the top market locations. To calculate the approximate revenue for each of the top 10 markets (locations) from the Lodging Magazine source, we multiplied each estimated percentage by the total hotel revenue as provided by Hospitality Net 360 to obtain the estimated revenue for the top 10 hotel markets.

EXAMPLE
#2 NEW YORK CITY

 $11 billion total hotel revenue
Revenue share 5.9% 

CALCULATION
 5.9% x $11 billion = $649 million estimated revenue

Since Las Vegas had a $2 billion lead ahead of New York City, we retained it as the top hotel market in spite of missing info from Lodging Magazine. We also found that Las Vegas driving force in its economy in hotel outlook is tourism. Additionally, according to an industry report by California-based Ten-X, the number of its hotels in Las Vegas in the coming years will continue to flourish as the region is perceived as the top investment destination for hotels among top five metropolitan areas in the United States.


TOP U.S. MARKETS FOR TOTAL HOTEL REVENUES

#1 LAS VEGAS, NV

The hotel sector in Las Vegas is worth $13 billion in total hotel revenue. The data for the revenue share was not available.

#2 NEW YORK CITY

The hotel sector in New York City is valued at $11 billion in total hotel revenue. The revenue share of the market is 5.9%. The estimated revenue from the market is $649 million.

CALCULATION
5.9% x $11 billion = $649 million estimated revenue

#3 LOS ANGELES

The hotel sector in Los Angeles is worth $6 billion in total hotel revenue. The revenue share of the market is 3.1%. The estimated revenue from the market is $186 million.

CALCULATION
3.1% x $6 billion = $186 million estimated revenue

#4 WASHINGTON, D.C.

The hotel sector in Washington, D.C. is worth $6 billion in total hotel revenue. The revenue share of the market is 2.9%. The estimated revenue from the market is $174 million.

CALCULATION
2.9% x $6 billion = $174 million estimated revenue

#5 ORLANDO, FL

The hotel sector in Orlando, FL is worth $6 billion in total hotel revenue. The revenue share of the market is 2.6%. The estimated revenue from the market is $156 million.

CALCULATION
2.6% x $6 billion = $156 million estimated revenue

#6 CHICAGO IL

The hotel sector in Chicago, IL is worth $5.7 billion in total hotel revenue. The revenue share of the market is 2.5%. The estimated revenue from the market is $142.5 million.

CALCULATION
2.5% x $5.7 billion = $142.5 million estimated revenue

#7 SAN FRANCISCO/SAN MATEO CA

The hotel sector in San Francisco, CA is worth $4.8 billion in total hotel revenue. The revenue share of the market is 2%. The estimated revenue from the market is $96 million.

CALCULATION
2% x $4.8 billion = $96 million estimated revenue

#8 MIAMI/ HIALEAH FL

The hotel sector in Miami, FL is worth $4.1 billion in total hotel revenue. The revenue share of the market is 1.6%. The estimated revenue from the market is $65.6 million.

CALCULATION
1.6% x $4.1 billion = $65.6 million estimated revenue

#9 SAN DIEGO, CA

The hotel sector in San Diego, CA is worth $3.9 billion in total hotel revenue. The revenue share of the market is 1.6%. The estimated revenue from the market is $62.4 million.

CALCULATION
1.6% x $3.9 billion = $62.4 million estimated revenue

#10 BOSTON, MA

The hotel sector in Boston, MA is worth $3.8 billion in total hotel revenue. The revenue share of the market is 1.6%. The estimated revenue from the market is $60.8 million.

CALCULATION
1.6% x $3.8 billion = $60.8 million estimated revenue

Additional insights

According to STR Global, in 2018, the U.S. hotel industry saw occupancy rate increase from 0.5% to 66.2%, while average daily rate (ADR) rose by 2.4% to $129.83 and the revenue per available room (RevPAR) increased by 2.9% to $85.96 in 2018. Among the top 25 markets in the U.S. hotel industry, San Diego, CA recorded the highest increase in the ADR rate of+7.8% to $155.74 while the RevPAR increased by +12.4% to $113.92; Boston, MA, experienced the second highest increases in ADR of +5.6% to $203.71, RevPAR of +12.2% to $153.15 as well as the highest increase in occupancy rate, namely 6.3%, to 75.2%.

The primary drivers in the Las Vegas economy that are responsible for the boost in the hospitality industry include tourism, conventions, and gaming. Additionally, other sectors of the economy including manufacturing, wholesale trade, distribution, and construction have blended with tourism in Las Vegas and thus indirectly boosted the hotel sector of the region. According to California-based Ten-X's fourth quarter hotel market outlook, "Las Vegas made it on the list of top five metropolitan areas where it’s a good time to invest in the hotel sector". As it was stated in the report that, "Las Vegas hotels are poised to flourish in the coming years".

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Part
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Sharing Economy - Market Size

An exhaustive search of the public domain indicates that information on the U.S. market size for the sharing economy is non-existent, and media coverage on the specified topic is scarce. The most relevant media mention shows that in 2016, the sharing economy market size in the United States had 44.8 million users and the number is expected to increase to 86.5 million users in 2021. Also, the sharing economy market size in the U.S. is expected to reach $22.99 billion in 2022. Below are our detailed methodology and relevant findings on the topic.

METHODOLOGY

During research, we could find the sharing economy market size in the United States by the number of users, but we could not find the recent market size in terms of monetary value. We used the following strategies trying to find the missing information.

We began our research trying to locate the market size of the sharing economy in the US by looking for the information in credible financial and industry sources like Forbes, Entrepreneur and PWC, among others. While we could find the market size in the US by the number of users and some additional statistics of the US demographic and categories, we could not find the monetary value of the market size in the US.

Next, we broadened our search to locate the global market size of the sharing economy with the objective of finding leads on the US market. We searched through global sources like BCG, The Balance MB, and the sources we had initially used in the first strategy. On these sources, we could find the global market size which was $15 billion in 2014 and is expected to reach $335 billion in 2025. Also, we were able to find the global key players per category and their respective market size. However, from this search, we found no indication of the US market.

After finding the global market size value, we attempted to find enough data points to triangulate the US market value from the global market. First, we considered a triangulation using the users in the US, but since the value spent per user cannot be found, and the categories are so wide, we could not identify the market size because the final value would be too imprecise. Next, we looked for the market share the US has in the global market. We searched through sources like Reuters, Statista, Juniper Research and Market Research, among others. Although this strategy revealed the United States market share in 2022, which is expected to be 57.2% of the $40.2 billion global market that year, none of the sources has the current percentage of the sharing economy that is located in the US.

Finally, we attempted to find additional industry reports hoping to get information to answer the research criteria. We did find a report on PWC website having information on the sharing economy in the world and US, but the report does not have any relevant information on the sharing economy market size for the US. The Juniper Research analysis on the sharing economy provides a division of the industry with market size by region, however, the information is hidden behind the paywall so we could not determine if it contains the US information, we can assume it does because it offers a deep dive analysis of the sharing economy market size in North America.
In conclusion, we could not find the US market size in monetary value because it is not publicly available. However, we could provide the market size by the number of users.

CALCULATIONS

We calculated the market size for the US in 2022 as follows:
Global sharing economy in 2022: $40.2 billion 
The % of US market size in 2022: 57.2% 

Therefore, the sharing economy in the US in 2022 is expected to be: $(40,200,000,000 x 0.572) = $22,994,400,000.

SHARING ECONOMY MARKET SIZE IN THE US BY THE NUMBER OF USERS

The US sharing economy market had 44.8 million users in 2016, and the number is expected to increase to 86.5 million users in 2021.

RELEVANT FINDINGS

The sharing economy is an industry that includes the collaborative consumption, freelancing, gig, peer-to-peer, crowdfunding, crowdsourcing, co-working and co-branding economies. The global market size of the sharing economy was $15 billion in 2014 and is expected to reach $335 billion in 2025. In 2022, the sharing economy market size will be $40.2 billion globally, of which the US represents 57.2% ($22.99 billion) of the market share, Europe, 19.2%, and the other 23.6% belongs to the rest of the world. The global sharing economy market raises $23 billion in funding for venture capital since 2010.
The key players in the sharing economy in the United States are Airbnb, Deliveroo, Lyft, Uber, and Wework. Airbnb had a market size of $3.4 billion, Deliveroo $0.47 billion, Lyft $2.67 billion, Wework $4.45 billion, and Uber $11.46 billion in 2017.

SHARING ECONOMY CATEGORIES AND MAIN PLAYERS GLOBALLY

  •  Hospitality and Dining top players in the United States include Airbnb, Couchsourfing, Leftoverswap, and Feastly, Retail top players include Snapgoods, Neighborgoods, Tradesy, and Poshmark, while Entertainment and Media top players include Earbits, Spotify, SoundCloud, Wix and Amazon Family Library.

According to a study by PWC, 19% of the adults in the United States have used the sharing economy. From these users, 9% have used it for entertainment and media, 8% for transportation, 6% for hospitality and dining, and 2% for retail. The demography of the main users are between 18-25 years, households with $50k to $75k income, and houses with kids who are below 18 years.

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Sharing Economy - Airbnb Private Homes

Our research estimates that 31.5% of Airbnb properties have an in-home host and 68.5% of all Airbnb properties are private entire homes where rentals are made for the entire property. In March 2019, the company announced that due to its expanding community of hosts, growing market, and loyal guests, Airbnb has about six million listings across the globe, with over 660,000 in the United States alone.

Airbnb Private Homes — Sharing Economy

According to a press release published by Airbnb, the company announced this year (March 2019) that it has over six million listings spread across the world. The company claims that its success in the market is due to the loyal hosts and guests in the global network. The report also revealed that there are over 1,000 listings in over 900 cities. Overall, the company has listings in more than 81,000 cities. Approximately 3% of Airbnb’s total listings are concentrated in London, New York, and Paris. The company projects that by the end of the first quarter of this year (2019) Airbnb would record over 500 million guests in its listings since it was established in 2008.
A research paper published by Qing Ke of Indiana University, Bloomington, stated that there are three broad types of Airbnb room listings — entire home or apartment, shared room, and private room. The study was conducted to analyze Airbnb’s market and was done using various data collection techniques with geolocation targeting with latitude/longitude values. This report provides the share of different types of rooms worldwide and percentage distribution of its listings in various countries.

Percentage of Airbnb properties that have an in-home host

Based on the 'Entire-marketplace Analysis of Airbnb', it was noted that shared room and private room listings have an in-home host. Private rooms are defined as those rooms where guests engage a private bedroom and share the remaining space with others while shared rooms are those where the guest shares the living quarters with other guests. This turns out to be a condition for in-home hosts to transform residential homes into short-term rental spaces for various purposes, including business operators.
The study by Qing Ke shows that for its entire market, only 29.8% of the listings are private rooms while 68.5% of the market listings are entire homes. It was also found that about 1.7% of the listings are shared rooms.
The percentage of Airbnb properties that have an in-home host = Percentage of shared rooms + Percentage of private rooms
The percentage of Airbnb properties that have an in-home host = 29.8% + 1.7% = 31.5%
Therefore, it has been estimated that the percentage of Airbnb properties that have an in-home host is about 31.5%.

Percentage of Airbnb properties that are private and allow for rental of the entire property

The 'Entire-marketplace Analysis of Airbnb' report indicates that there are no hosts present during one’s stay in entire home-type properties. Airbnb’s global market accounts for 68.5% of entire home listings with the largest number of entire private home listings located in the United States. This country has the largest number of Airbnb listings in the world with over 660,000 different properties. Over 65.8% of all listings in the United States are entire private homes and these listings allow for rental of the entire property.

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Sharing Economy - Homeowner Demographic

The estimated number of female homeowners in the United States is 19,098,889 while 60,261,111 are male. Sixteen percent of the homeowners belong to the silent generation, 42% are baby boomers, 27% are Generation X, and 14% are millennials. The median household income of homeowners in the US is $62,500. The number of homes owned is about 127.59 million. The rate of homeownership in the rural areas is at 81.1%, and 58.2% in urban areas.

Methodology

To provide the demographic profile of a homeowner in the United States, we scoured through numerous sources including Statista, Census, and CNBC, Zillow, and Bloomberg. We were fortunate to locate data on age breakout and median income. For gender breakout, we found 2014 statistics on homeownership by women from NAWRB. Fortunately, we also found data on Statista that helped us to calculate the approximate current number of male and female homeowners in the US. We were unable to find publicly available homeownership data on suburban. According to an article on Citylab, there is no official federal definition for the word suburban. Hence, the lack of data that separates suburban. We then narrowed our search scope to include only urban and rural. We leveraged sources like Census, Citylab, and NBC news and we were able to locate data on rural and urban homeownership in the US.

CALCULATION FOR THE CURRENT NUMBER OF MALE AND FEMALE HOMEOWNERS

According to Statista, the total number of housing units owned in 2018 was approximately 79.36 million. We then assumed that homeowners occupy only one home at a time. The number of female homeowners in the US according to the 2014 Census Bureau data is 18,057,000.

Since the number of female homeowners is based on a 2014 census, we then calculated the growth rate of homeowners from 2014 to 2018 using the data available on Statista which will help us to determine the current number of females who own homes. i.e ((79.36 million - 75.03 million))/ 75.03) x = 5.77%.

Afterward, we multiplied the growth rate to the number of females owners in 2014 to get the approximate number of females homeowners in 2018.
(5.77% x 18.057 million) = 19,098,889.

To get the approximate number of males owners, we subtracted the number of females who own a house from the total number of homes occupied by owners. i.e, 79,360,000 - 19,098,889 = 60,261,111 male homeowners.

Age breakout by generation

 Fourteen percent of homeowners are millennials who are 18 to 37 years, while 27% are Generation X aged 38 to 52 years. Also, 42% are baby boomers who are 53 to 72 years, and 16% are the silent generation who are 73 years and above. Besides, 4.68% of millennials who are 18 to 29 years own a second home.

Median income and number of households owned

The median household income of homeowners in the United States is $62,500. At a homeownership rate of 64.20%, the number of homes owned is about 79.36 million. There are also about 127.59 million households in the US.

Gender and urban vs rural breakout

The estimated number of female homeowners in the United States is 19,098,889 while 60,261,111 are male. The rural areas in the US have a homeownership rate of 81.1% while it is 58.2% in the urban areas.
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Sharing Economy - Airbnb Host Demographic

According to our research, more than half of Airbnb hosts in the United States are male. A combined 62% of hosts in the country are between the ages of 25 and 44. The median income, as of the year 2016, is between $75,000 and $100,000. The majority of hosts in the United States only have one property listed on Airbnb. Finally, less than one-third (18.4%) of active listings in 2017 were located in rural areas of the nation. Below we have presented an overview of our research strategy, any assumptions we have made, and the findings from our research.

METHODOLOGY

We began our research by exploring Airbnb's company website, along with statistical sites such as Statista, to locate suitable demographic information to help us determine the typical Airbnb host. We also searched through research marketing sources for valuable data. However, we could not find any relevant details on any of the sources listed above.

We then searched the websites of third parties that assist hosts in maintaining their rentals. On Learn Airbnb, we located an in-depth survey from 2016 containing demographic information. While the data is three years old, it was the sole source we came across that contained relevant information. It also provided percentages instead of numbers. We assumed that the figures in the survey would remain fairly consistent, which we confirmed by looking for individual statistics from 2018 and 2019. Using this source, we found data regarding the age, gender, household income, and the number of listings for Airbnb hosts, though there was no mention of whether they own their homes. We also found figures (percentages) on how many owned or rented listings on Airbnb.

During our research, we were unable to find a breakdown of urban, suburban, and rural hosts. In addition to the sources mentioned earlier, we also checked magazines containing articles on Airbnb. Although we located a report on the income for hosts in rural and urban areas, it did not provide the number of hosts for each category. After further research, we came across a 2017 report from Airbnb on rural hosts that presented the percentage of hosts that fall into that classification in the United States. Nevertheless, we could not find sufficient information to precisely break down the remaining 81.6% (urban and suburban). Moreover, we searched for case studies published by prominent sources that might have contained the missing data. However, we still were unable to find a breakdown between urban and suburban Airbnb hosts in the United States. In the absence of some of the specific information, we pulled together all the available and relevant data and presented them below.

DEMOGRAPHIC PROFILE OF AN AIRBNB HOST IN THE UNITED STATES

AGE


GENDER


ANNUAL HOUSEHOLD INCOME

According to Learn Airbnb, the median income for an Airbnb host in the United States is between $75,000 and $100,000, as of 2016. Meanwhile, the breakdown of annual household income for each income bracket goes as follows:


NUMBER OF LISTINGS ON AIRBNB


LOCATION

Approximately 18.4% of active listings in 2017 were located in rural areas, according to Airbnb.

ADDITIONAL STATS ON LISTINGS ON AIRBNB FOR ALL HOSTS

More than half (58.4%) of hosts own the property they rent on Airbnb, while 23.8% rent the properties they list. Around 12.1% of them both rent and own the properties that they list on Airbnb. Finally, 5.7% of the hosts only serve as a property manager.

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Sharing Economy - Airbnb Travelers

The US accounts for 29% of Airbnb travelers in the world, with between 38,169,135 and 43,500,000 in 2019. The city with the highest number of Airbnb travelers in the US is Florida with 4.5 million. Below is a methodology that we used to find some of the figures presented in this research.

METHODOLOGY

Information for this research was obtained from sources containing statistics relating to the number of Airbnb travelers. The sources included Expanded Ramblings, IProperty Management, Survata, and Statista. These resources included information on the total number of listings in the US, the total number of listings and the number of travelers.
Based on the information provided, there are 150 million Airbnb travelers. The percentage of Airbnb travelers in the US is: 29% So the number of Airbnb travellers in the US: 29% (150,000,000) = 43,500,000 To support this triangulation, we looked through information in Statista, that stated that there were 33.9 million travelers in 2017 and this was expected to reach 45.6 million by 2022.
Based on these figures, we established the CAGR between the period. CAGR = (45600000/33900000)^(1/5)-1 = 6.11%

We then applied this to the number of 2017 US travelers - 33900000 = X / (1 + 6.11%)^5 where X = 2019 US Airbnb travelers As such, X = 38,169,135. The range for US Airbnb travelers in 2019 is 38,169,135 to 43,500,000.

NUMBER OF AIRBNB TRAVELERS IN THE US PER YEAR

AIRBNB: GENERAL INSIGHT

Airbnb is active in 191 countries, with 150 million Airbnb travelers around the world. The company has over 500 million listings since its inception.

AIRBNB: US INSIGHT

  • In the US, there are 660,000 Airbnb listings. The US accounts for 29% of Airbnb travelers.
  •  30% of these are in major cities such as Boston, Miami, San Francisco, Los Angeles, and New York.
  • Miami had 954,000 travelers, and Florida had 4.5 million travelers in 2019.
  • Indianapolis had the highest growth rate in terms of travelers at 256%.  
  • Other cities experiencing a growth in the rate of travelers include Minnesota, Minneapolis, Ohio, and Columbus.

AIRBNB US TRAVELERS

  • In 2017, there were 33.9 million Airbnb travelers in the US.
  • It is projected that there will be 45.6 million Airbnb travelers in the US by 2020.
  • In 2019, the number of Airbnb travelers in the US is expected to be between 38,169,135 and 43,500,000.
  • The estimated annual growth rate of US travelers on Airbnb is 6.11%.
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Sharing Economy - Airbnb Hosts

After an extensive search, our research team used the average amount of listings per host, the total amount of Airbnb listings in the world, and the total amount of Airbnb listings in the United States to calculate the current number of Airbnb hosts in the United States. The strategy used to get 200,000 as the number of Airbnb hosts in the United States is explained below.

RESEARCH STRATEGY


We began our research by concentrating on the current, total amount of Airbnb hosts in the United States specifically. After carrying out extensive research through a plethora of different markets, press related, and statistical based web pages, such as Statista, Bloomberg, and Reuters, it was realized that data specific to the number of Airbnb hosts in the U.S. was not available.
Our research team changed strategy and aimed at finding any relevant or necessary data that could allow the answer to be calculated. After a thorough search, data on the average amount of listings per host, the total amount of Airbnb listings around the world, and the total amount of Airbnb listings in the United States was discovered and used to calculate the current number of Airbnb hosts in the United States.

FINDINGS AND CALCULATIONS

  • Currently, there are more than 6 million Airbnb listings worldwide.
  • Out of the 6 million Airbnb listings worldwide, 660,000 listings are in the United States.
  • Each Airbnb host has an average of 3 listings.
  • There are approximately 650,000 Airbnb hosts worldwide.
If there are 6 million listings worldwide and 660,000 listings are in the United States, the percentage of United States listings to worldwide listings wound be as shown below.
(660,000 x 100) / 6 million
= 66,000,000 / 6 million = 11%
11% of all Airbnb listings are in the United States.

If each host has 3 listings and there are 6 million listings worldwide, the total amount of hosts worldwide will be:
6 million / 3 = 2 million hosts worldwide.

If there are 2 million hosts worldwide and 11% of listings are in the United States, the total number of hosts that are located in the United States will be:
(2 million x 11) / 100 = 220,000 hosts in the United States.
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Sharing Economy - Experience Competitors Growth

After an in-depth search we provided the revenue growth for Sidetour/Groupon and Tripadvisor. We could not find revenue growth for Vayable, but we presented the useful findings we came across in the course of our research such as annual revenue and total funding amount. Below is our research strategy.

RESEARCH STRATEGY

We began our search by noting the competitors found in the request titled ''Sharing Economy - Airbnb Experience Competitors''. After that, we scanned through their websites, where we hoped to find their financial information. We found Tripadvisor and Groupon/Sidetour revenues on the investor relations sections of their websites. We included Groupon's revenue information because it moved all of Sidetours' services to their platform in the year 2015.

After combing through Vayable's official website, we did not find any information about their revenue, because they are a private company and therefore are not required to publish their financial data. The press pages on their website only contains links to news articles where they were mentioned, with no recent entries.

Next, we searched through credible company databases such as Crunchbase, Hoovers, Craft, and Bloomberg among others, we thought we would find information about Vayable's revenue and growth over the past three years. We only got the estimated annual revenue and the total funding amount on Crunchbase. Regrettably, no information about their revenue was on any of these pages.

We broadened our research by examining government websites such as Securities and Exchange Commission (SEC), and industry reports such as Market Watch, Plunkett Search, Annualreports.com that might contain Vayable's financial information. There was no information about their revenue on these sites, except, Plunkett Search, which might provide data about Vayable's revenue, but it is hidden behind a paywall.

Finally, we searched various news articles and publications such as Forbes, Business Insider, Inc, Fast Company, TechCrunch, and others. We were hoping to find some indication about their growth percentage over the past couple of years. We only found some general news about the company and a lot of other articles that were mostly outdated. There was no data about Vayable's revenue or growth on any of these sources.

FINDINGS

SIDETOUR/GROUPON'S NEGATIVE GROWTH

TRIPADVISOR'S POSITIVE GROWTH

HELPFUL FINDINGS ABOUT VAYABLE


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Sharing Economy - Airbnb Experience Competitors

Three competitors of Airbnb Experiences are:
  • Vayable
  • SideTour/Groupon
  • TripAdvisor Experiences

Among these competitors, TripAdvisor and SideTour/Groupon appear to be posing a fairly significant threat to Airbnb Experiences, whereas Vayable's growth appears to have been almost entirely flat within the past year suggesting it likely is not capturing any significant shares within the market. A deep dive of these findings and the methodology used for this research has been presented below.

methodology

In order to conduct this research, insights into Airbnb Experiences was gathered to understand what the service does and how it works. This information was necessary to understand in order to identify the competitors for this service (i.e. companies that are providing similar types of services). Through this process, it was discovered that Airbnb Experiences is operating in what is commonly being referred to in the industry as peer-to-peer (P2P) tours and activities. Given this understanding, further research was conducted to identify some key players in this market. In doing so, the P2P tours and activities landscape was analyzed at a high level to get a general sense of which companies are being referenced commonly across media articles that discuss this market. Overall, there appeared to be quite a number of very small startups entering this market. Therefore, more focus was placed on any companies and brands that could logically be considered 'household names'/widely-known in the U.S. in the same way Airbnb's brand is widely recognized. Because of this, Groupon and TripAdvisor were both focused on. Meanwhile, the company Vayable was also focused on for this project, as this company's name turned up in nearly every article and listing of P2P tours that were analyzed during this research and has a very similar type of P2P tours service as Airbnb.

In order to determine whether these competitors are posting a threat to Airbnb Experiences (i.e. whether the competitor is stealing market share) the competitors' growth trends were analyzed to assess whether the company has been witnessing upward growth, with the assumptions being made that an increase in growth likely equals an increase in market share, whereas negative growth or no growth would indicate a likely decrease or stagnant market share.

It should also be noted here that research was further conducted across various market and industry reports in attempts to locate direct data discussing the market shares of these companies, however, the relatively niche nature of peer-to-peer tours and activities within the overall larger travel and activity industry and the relative immaturity of this emerging market segment, combined with the fact that the majority of players are small, privately held startups seems to have resulted in an overall lack of data specific to company shares and key players within this market. Therefore, a triangulation process via analysis of company growth (as noted above) was relied upon instead in order to assess potential 'threat' based on an assumed growth or decline of market share.

ABOUT AIRBNB EXPERIENCES

Airbnb Experiences are local-lead activities that provide tours, classes, and experiences for travelers that are more authentic and unique in nature. Experiences hosts range from chefs to artists to individuals who are well versed in the local scene.
Types of experiences include:
  • Classes and Workshops
  • Concerts
  • Food and Drink Experiences
  • Sports, Arts, Culture, Nature, and History Experiences
  • Entertainment and Nightlife
  • Health, Wellness and Social Impact Experiences
  • Music and Comedy

COMPETITOR 1: VAYABLE

HQ Location: San Francisco, CA

About the company and why it's a competitor: Vayable serves as an online marketplace where locals can sell experiences, activities, and trips to travelers.
Analysis of this company's growth trend:
  • Founded in 2011.
  • Over the last 30 days, the monthly download growth reflects a negative growth of 12.35%, having been downloaded only 362 times on iTunes.
  • Has not received funding since 2011.
  • Overall, media attention and mentions appear to have slowed down quite a bit in more recent years compared to earlier years when there was a lot of buzz around this company.
  • Social media following has remained relatively stable in recent weeks on Instagram and has shown no growth on Twitter within the past year.

Threat analysis:
Based on the company growth analysis above, it appears that this company is experiencing a stagnant level of customer acquisition and media buzz, which likely suggests that the company is not currently stealing much (if any) share of the market, and therefore likely does not appear to pose an immediate threat to Airbnb Experiences.

*Please note that Vayable is a private company and therefore detailed financial data regarding their growth was not found to be publicly available across an analysis of the company website and trusted media sources, therefore, the other metrics noted above were relied upon to assess their growth trend instead.

COMPETITOR 2: SIDETOUR/GROUPON

About the company and why it's a competitor: SideTour (now acquired by and fully integrated with Groupon) is set up as a community market place where individuals can host and book unique and personable experiences and activities, such as having dinner in a chef's home.
Analysis of this company's growth trend:
  • Founded in 2011.
  • Acquired by Groupon in 2013.
  •  Privately held company.
  • According to TechCrunch, when Groupon acquired SideTours in 2013 they noted they would be running SideTour independently for some time, meanwhile listing its activities via Groupon's e-mail circulation.
  • SideTour originally offered event tickets only but began diversifying its offerings upon being acquired by Groupon.
  • As of 2013, SideTour was already offering 500 activities across major U.S. cities, and Groupon stated at the time that they were going to extend it to other cities in the following months.
  • In 2015, SideTour fully consolidated with Groupon and moved all of their services to the Groupon platform, which means that all tours and events made available through SideTours are now available through Groupon instead and the SideTours website redirects to the Groupon website.
  • Today, Groupon is the sixth highest ranked iOS app of all time, and has 49.3 million active customers, across 15 countries.

Threat analysis:
Given that SideTour has been increasingly growing since being acquired by Groupon and that Groupon is a well-established brand with a large consumer base, it can logically be assumed that SideTour/Groupon has gained more traction in the P2P experiences market and has been increasingly posing a threat to Airbnb.

COMPETITOR 3: TRIPADVISOR EXPERIENCES

HQ Location: Greater Boston Area
About the company and why it's a competitor: TripAdvisor's 'Experiences' business segment allows local tour guides and operators to sell various types of activities ranging from classes and cruises to multi-day excursions and day tours. Users can book these experiences through TripAdvisor. These experiences are aimed at users looking for both sightseeing and unique local experiences.
Analysis of this company's growth trend:
  • In 2017, 30,000 new experiences were added to TripAdvisor, which was an increase of 50% from the year before.
  • TripAdvisor's 2018 annual report notes that they are "home to the world's largest travel community of 490 million average monthly unique visitors."
  • The company's non-hotel revenue segment (which can logically be assumed includes the 'experiences' division) grew 27% in 2018, compared to 2017.
  • TripAdvisor says that in 2018, the work they did to reinforce their "leading position" in 'Experiences' has "laid important groundwork for future growth."

Threat analysis:
Based on TripAdvisor's very large audience of travel consumers and the fact that they are actively growing their experiences segment, it can be logically assumed that they likely pose a significant threat to Airbnb Experiences.

Part
11
of fourteen
Part
11

Sharing Economy - Home Rental Competitors Growth

The revenue of Expedia for the past three years was $11,200,000,000 in 2018, $10,059,844,000 in 2017, and $8,773,564,000 in 2016, while the HomeAway revenue was $1,171,000,000 in 2018, $906,000,000 in 2017, and $689,000,000 in 2016. Below are our detailed methodology and findings.

METHODOLOGY

We found the revenues of Expedia, HomeAway, and Booking.com pre-compiled in the public domain, however, we could not find the revenue of VRBO. We used the following strategies trying to find the revenue of VRBO.

To find the missing information, we began our search by going through VRBO website hoping to find any financial information that would show the revenue of the company. Unfortunately, we could not find any financial report about the company. The most relevant information we found is that HomeAway company acquired VRBO on November 13, 2006. Therefore, we tried looking for the annual financial reports of the HomeAway hoping to find any breakdown of their revenue specific to VRBO, however, we could not find any relevant results pertaining to VRBO revenue. The most useful information we found is that Expedia, Inc fully acquired HomeAway in 2015. With this information, we again searched for the annual financial reports of Expedia hoping to find breakdown revenue of their businesses specific to VRBO, however, this yielded no helpful results pertaining to VRBO revenue. Expedia Inc. has only presented the revenue of HomeAway company.

Additionally, we searched through the different trusted databases that provide the revenue information of different companies. We searched through websites such as Hoovers, Craft, Crunchbase, among others hoping to find revenue of VRBO for the past three years. Fortunately, we could only find the estimated annual revenue of VRBO on Crunchbase. Next, we broadened our search by going through trusted media articles, blogs, and industry reports such as Bloomberg, Forbes, CNBC, Market Watch, Phocus Wire, among others hoping to find any financial statements of VRBO in terms of the revenue growth. But again, this yielded no helpful results specific to the revenue of the company. Most information presented on these websites is the growth of listings, new updates, current overview of the VRBO, among others.

Finally, we tried a triangulation approach, but this strategy could not be successful because we could not find any relevant information or data pertaining to the VRBO revenue to help us in triangulation.

NOTE: On the Booking.com, we could find that the company is under Booking Holding company. After examining the annual financial reports of Booking Holdings, Inc. hoping to find the revenue for Bookings.com, we could not find the specific breakdown of revenue under the company. However, the report provides the breakdown of revenue as per the geographical area. Upon examining the report further, we could find that Booking.com is headquartered in the Netherlands. The report also presents the revenue breakdown of Bookings.com specific to the Netherlands. Thus, we assumed that the breakdown of revenue in the Netherlands belongs to Booking.com since it is the only company under Booking Holdings Inc. in the Netherlands. Although the research criteria want US based companies, we have presented Booking.com revenue in our findings because it has helpful information pertaining to the research criteria.

To conclude, we have presented the revenue of HomeAway, Expedia, and Booking.com for the past three years and the estimated annual revenue of VRBO.

SHARING ECONOMY - HOME RENTAL COMPETITORS GROWTH

EXPEDIA

The company's revenue for the past three years:

HOMEAWAY

The company's revenue for the past three years:

BOOKING.COM

The company's revenue with breakdown specific to the Netherlands is:

VRBO

According to Crunchbase, the estimated annual revenue of VRBO is $5,400,000.
Part
12
of fourteen
Part
12

Sharing Economy - Airbnb Home Rental Competitors

Four competitors of Airbnb home rental include VRBO, HomeAway, Expedia, and Booking.com. These companies are creating a presence in the urban areas that was initially dominated by Airbnb. Marketing efforts, an increase in online presence, and an increase in the number of listings have resulted in the lower increase rate for Airbnb over the past three years. This has been attributed to the increase of competitors.

Methodology

We provide the first two competitors as outlined in the request and corroborated by an article that lists Airbnb’s top 10 competitors. We found this article in Tripping, a travel and accommodation database with information for over 190 countries. The two competitors here are VRBO and HomeAway.

We identified the next two competitors from an article on Skift. This article provides statistical information about how Airbnb’s market share is being threatened by two large companies. The companies outlined in the article are Expedia and Booking.com.

OVERVIEW

Between 2016 and 2018, Airbnb has experienced some stiff competition. The following statistics show the impact. Airbnb fell by 3% each consecutive year and as much as the number of travelers using this service is still increasing, there has been a decline in the increase rate. This increase rate was 8% in 2016, 3% in 2017, and 2% in 2018. We can attribute this to the extensive marketing efforts by HomeAway, Booking.com, and Expedia, which spent an estimated $9 billion on research and marketing to draw traffic to their sites.

As the US home rental market witnesses the stiff competition faced by Airbnb, experts predict that the competitors will soon grab the majority market share. According to US travel, accommodation, and hotel ranking, Booking.com is at the top, followed by Airbnb in second place. VRBO holds the tenth position as HomeAway ranks 28th.

BOOKING.COM

Booking.com, founded in 1996, has its headquarters in Amsterdam. It has 28,415,905 listings, 148,631 destinations, and 1,550,000 rooms reserved daily. Compared to Airbnb, Booking.com had over five million listings, while Airbnb had 4.85 million in 2017. In the same year, Booking.com’s gross travel bookings realized a 19% increase and reached $81.2 billion. In the same year, its net income grew by 9.6% to reach $2.34 billion. The global count for app downloads is 130 million compared to Airbnb’s 82 million.

HOMEAWAY

Comparing the same period in 2017 and 2018 reveals that HomeAway’s profit doubled. In the previous year, they added 100,000 new listings. By 2018, there were 1.7 million listings. By expanding into the urban space, HomeAway is attempting to steal some market share from the infamous Airbnb. Founded in 2005 by Brian Sharples and Carl Shepherd, HomeAway is in 190 countries and has over two million listings. In 2015, Expedia acquired HomeAway. As of 2018, it generated $300 million per quarter, which accounted for 10% of Expedia’s revenue. As they established the online listings, the company experienced a double increase in revenue.

VRBO

VRBO is a company that provides home rental services, and David Crouse was the founder. In 2006, after 11 years, HomeAway acquired VRBO. They had over 140,000 listings on its site. They were ranked tenth in the accommodation and hotel industry, with 91% of the web traffic originating form the US. Just as HomeAway, VRBO is infiltrating into the urban market and costing Airbnb some market shares.

EXPEDIA

 Founded in 1996, Expedia is a home rental service provider that has offices in major cities across the US. In 2017, app downloads in the US for the companies were Airbnb with 27 million, while Expedia had 21 million. When comparing 2016 and 2017, the company’s revenue had reached $2.88 billion which was a growth of 11%. They also experienced a 12% increase in bookings. In 2018, the revenue grew to $25.9 billion with over 1.8 million listings, 352 million rooms booked daily, and $11.2 billion generated from home rental bookings.
Part
13
of fourteen
Part
13

Sharing Economy - Hospitality/Hotel Market Size

We found three credible market research/industry sources that provided data about the U.S. market size for the hotel/hospitality industry (Statista, IBISWorld, and Hotel News Now). The U.S. market size for the hotel industry was $208 billion in 2017 according to Statista and $206 billion in 2019 according to IBISWorld. Below is the information that we found about the U.S. market size for the hotel/hospitality industry.

METHODOLOGY

Though the data provided by Statista and IBISWorld varies slightly, both sources provided similar data, thus demonstrating a closely related consensus about the market size. The IBISWorld data provides the U.S. market size for "the Hotels & Motels" industry. We used that data because (1) motels are part of the hospitality industry and (2) it provides the industry's revenue projection for 2019 in the U.S. (the most-recent data we could find about the market size specific to the U.S.). We included this Google Doc which shows the information from the IBISWorld market research report because we noticed that the link to the report wasn't working. The Statista data applies to the U.S. hotel industry's revenue from 2017, which we included because it provided recent market size data and included a year-by-year breakdown of the industry's revenue. The Hotel News Now data applies to the U.S. hotel industry in 2017 and thus further demonstrates the credibility of the Statista data.

U.S. HOTEL/HOSPITALITY INDUSTRY MARKET SIZE

According to a 2019 market research report published by IBISWorld, the U.S. hotel/motel industry's revenue in 2019 is projected to total $206 billion. IBISWorld states that the U.S. hotel/motel industry has grown 4% annually from 2014 to 2019. Additionally, the U.S. hotel/motel industry has added 3.1% more businesses from 2014 to 2019, attaining a total of 100,535 companies in 2019. Further, 2.5% more employees have joined the industry during those years, attaining a total of 1,739,070 employees in 2019.
According to Statista, the U.S. hotel industry's revenue in 2017 was $208 billion. As this graph shows, the U.S. hotel industry's revenue has risen every year since 2010, though it was substantially lower in 2010 at $142 billion. Another source, Hotel News Now, also stated that the U.S. hotel industry's revenue/market size in 2017 was $208 billion, thus providing further support for Statista's data.
We were also able to calculate the U.S. share of the hotel market by using the Statista data, in order to provide an additional aspect of market size. According to our calculation, the U.S. has a 36.5% share of the global hotel market. We calculated that value by dividing the U.S. hotel market revenue in 2017 (208,000,000,000) by the global hotel market revenue in 2017 (570,180,000,000), which equals 0.36479708162. We then multiplied that value (0.36479708162) by 100 (to convert it into a percentage), which equals 36.4797081623. Thus, according to our calculation, the U.S. has an approximately 36.5% share of the global hotel market.
Part
14
of fourteen
Part
14

Sharing Economy - Home Sharing Market Size

The US market of home sharing industry serves over 31.9 million active users; it is valued at $36.6 billion and growing at 11%. The vacation rentals industry in the US consists of about 23,000 companies that generate a revenue of over $14.45 billion annually, with average revenue of $453.45 per user. The market segmentation of bookings done in the US is as follows — Direct bookings (41.1%), VRBO & HomeAway (24.2%), Airbnb (11.4%), Tripadvisor and Holiday Lettings (10.5%), Booking.com and Agoda (6.9%), Expedia (5.1%), and alternate channels (0.9%).

Methodology

To get the insights of the US home sharing market size, we referenced credible reports and data statistics from sources like — Hotel Appraisers & Advisors (HA&A), Marketing Dive, Phocuswright, VRMA, HomeAway, Hostfully, Rentivo, Statista, BusinessWire, and Syncbnb.

In our research, we were able to identify the scope of the home sharing industry in the US. We were also able to highlight the quantitative data estimates for the total market size ($bn), the number of users, growth, penetration, average revenue per user (ARPU), user demographics, market share, and channel usage. Please find the detailed presentation of our findings below

Insights

In the US, the sharing services market consists of companies that provide services to connect property owners with people who wish to use their properties. As of May 2018, about 83% of the US adult population were familiar with at least one sharing services company (lodging, taxi, or workspace), compared to just 47% in 2015. We also noted a rapid rise in home sharing users from 2015 (10.3 million users) to 2019 (31.9 million users). The US private accommodation market consists of short-term alternate lodging options comprising vacation rentals like private homes, farm stays, cabins, beach houses, villas, chalets, apartments, cottages, among others.

According to a recent report by travel industry research group Phocuswright, the total US private accommodation market has crossed $36.6 billion in 2018. The report found that even though the revenue of the home sharing rental market is around one-fifth the size of that of hotels, but it has grown much faster than the hotel industry at 11% vs. 5%. According to the vice president of Phocuswright Research, Douglas Quinby. The contributing factors for the industry's growth can be attributed to the segmental shift towards online booking, industry expansion to include urban private homes, increasing dependence on the online travel agents (OTAs), and growth of numerous innovative travel and lodging startups.

According to a survey by Rentivo on 10,000 property owners, the market share of rental bookings in North America is broken down as follows: Direct bookings (41.1%), VRBO & HomeAway (24.2%), Airbnb (11.4%), Tripadvisor and Holiday Lettings (10.5%), Booking.com and Agoda (6.9%), Expedia (5.1%), and alternate channels (0.9%). Another survey by Syncbnb on 1,200 vacation rental owners reveals that over 25% of owners list on 3 portals or more and earn about 1.5x more than listing on a single portal.

As of 2018, the total number of vacation rental companies in the world stood at 115,000, and the contribution of the US market was about 20% or 23,000 vacation rental companies. The report notes that 70% of the vacation rental companies are small, with 1-19 units, 20% are medium-sized with 20-99 units, and the remaining 10% are large companies with over 100 units.

According to the recent report by Statista, the vacation rentals segment in the US amounts to $14.45 billion with a growth of 10.8% in 2019. The average revenue generated per user (ARPU) amounts to $453.45. The penetration of vacation rentals segment is 9.7% with about 31.9 million active users in the US. Population in the age group of 25-34 years contribute about 40.4% of all bookings in the industry, and about 55.5% of users are male with 45.9% of users belonging to the high-income group.

According to a recent report by HomeAway, the vacation rental segment in the US generated a revenue of over $13 billion in 2018 and registered a growth of 7.2%. According to the CEO of Generali Global Assistance, Chris Carnicelli, the top three decision-making factors for US travelers to select a vacation rental is the location (63%), value (57%), and online reviews (33%).

It is found that Airbnb leads the home-sharing industry in the US, while both Expedia and Priceline are increasingly focusing on the home-based rental options on their platforms. Expedia acquired HomeAway in 2015 to enter the home sharing market and now features over 1.4 million properties on its portal, whereas Priceline increased its home rental inventory by over 50% in the last year alone. According to a recent report by HA&A, Airbnb accounted for approximately 8.1% of all paid U.S. lodging demand in 2017. The market share of Airbnb has grown rapidly from less than 1% in 2013 to more than 8% in 2017.

Sources
Sources
From Part 01

Sharing Economy - Top Hotel Markets

askwonder.com
Publication Year: 2019

Las Vegas hotels losing guests to Airbnb options

reviewjournal.com
Publication Year: 2019

Airbnb market

docs.google.com
Publication Year: 2019

LA County leads the state in Airbnb visitors, host income

dailynews.com
Publication Year: 2019
b

Washington DC

bizjournals.com
Publication Year: 2019
a

Florida Airbnb Hosts Earned $810 Million in 2018 Amid Continued Hotel Growth | Airbnb Citizen

airbnbcitizen.com
Publication Year: 2019

Orlando - Map Center

orlandoedc.com
Publication Year: 2019

STR: U.S. hotel revenues surpassed $200 billion in 2017 – Hospitality Net

hospitalitynet.org
Publication Year: 2018
From Part 02

STR: U.S. hotel revenues surpassed $200 billion in 2017 – Hospitality Net

hospitalitynet.org
Publication Year: 2018
Quotes
  • " Las Vegas led all markets with more than $13 billion in total revenue (excluding gaming), while New York City ranked second at $11 billion. Los Angeles, Washington, D.C. and Orlando rounded out the top five with total revenue all in excess of $6 billion."

Top 25 Markets Set the Performance Pace for U.S. Hotels

lodgingmagazine.com
Publication Year: 2019

U.S. Hotels Post Record Year In 2018

htrends.com
Publication Year: 2019

Las Vegas Casino & Hotel Market Outlook 2017

hvs.com
Publication Year: 2017
Quotes
  • "The primary drivers of the Las Vegas economy are tourism, gaming, and conventions, which in turn feed the retail and restaurant sectors."
  • "While these sectors have emerged within Las Vegas, the area's driving force is, and will continue to be, tourism."

Report says Las Vegas’ hotel market a good bet

businesspress.vegas
Publication Year: 2017
Quotes
  • "Las Vegas made it on the list of top five metropolitan areas where it’s a good time to invest in the hotel sector. That’s according to a fourth quarter hotel market outlook by California-based Ten-X — a real estate marketplace and research firm."
  • ""Las Vegas hotels are poised to flourish in the coming years,” the report stated."

STR Global - Hotel Market Data & Benchmarking

strglobal.com
From Part 03

What Is the Sharing Economy (and How Is it Changing Industries)?

thebalancesmb.com
Publication Year: 2018

Hopping Aboard the Sharing Economy

bcg.com
Publication Year: 2017
p

US Sharing Economy

pwc.com
Publication Year: 2017

The Sharing Economy Is Still Growing, And Businesses Should Take Note

forbes.com
Publication Year: 2019
j

Juniper Research

juniperresearch.com
Publication Year: 2018
j

Juniper

juniperresearch.com
Publication Year: 2018
From Part 04

Airbnb Hosts Share More Than Six Million Listings Around the World

press.airbnb.com
Publication Year: 2019
a

Sharing Means Renting?: An Entire-marketplace Analysis of Airbnb

arxiv.org
Publication Year: 2017

Airbnb Statistics for Target Market Demographics and Growth - iPropertyManagement.com

ipropertymanagement.com
Publication Year: 2019
From Part 05

The Typical American Homeowner - Zillow Group Consumer Housing Trends Report 2017

zillow.com
Publication Year: 2017

2016 Statistics on Women and Women’s Homeownership - NAWRB

nawrb.com
Publication Year: 2019

Number of owner occupied homes in the U.S. 2017 | Statistic

statista.com
Publication Year: 2017

Home Ownership Rate - Countries - List | America

tradingeconomics.com
Publication Year: 2018

Homeownership Higher in Rural Areas

census.gov
Publication Year: 2018

U.S.: Number of households 1960-2017 | Statista

statista.com
Publication Year: 2018

Share of Americans owning a second home by age 2018 | Statistic

statista.com
Publication Year: 2018

Number of owner occupied housing units in the United States from 1975 to 2018 (in millions) Screenshot

docs.google.com
Publication Year: 2019
d

Share of Americans who own a second home in 2018 by age

docs.google.com
Publication Year: 2019
d

Number of Households in the US screenshot

docs.google.com
Publication Year: 2019

Most Americans Describe Where They Live As Suburban

citylab.com
Publication Year: 2018
From Part 06

Airbnb Statistics for Target Market Demographics and Growth - iPropertyManagement.com

ipropertymanagement.com
Publication Year: 2019
l

The State of AirBnB hosting

learnairbnb.com
Publication Year: 2016
p

Beyond Cities: How Airbnb supports rural America’s revitalization

press.airbnb.com
Publication Year: 2017

Airbnb Is Bringing Money to Rural America

fortune.com
Publication Year: 2017

• Airbnb Statistics (2019): Users, Booking, Financials & Fun Facts

muchneeded.com
Publication Year: 2019
From Part 07

100 Amazing Airbnb Statistics

expandedramblings.com
Publication Year: 2019

Airbnb Statistics for Target Market Demographics and Growth - iPropertyManagement.com

ipropertymanagement.com
Publication Year: 2019

How Many Travelers Consider Using Airbnb?

blog.survata.com
Publication Year: 2016

Statista

docs.google.com
Publication Year: 2019
From Part 08
i

2019 Airbnb Statistics - User & Market Growth Data | iProperty Management

ipropertymanagement.com
Publication Year: 2019
Quotes
  • "Airbnb has about 650,000 hosts across the globe. "
  • "Airbnb has an average of 3 listings per host. "
  • "There are over 6 million Airbnb listings worldwide. "
  • "United States — 660,000 listings "
p

Fast Facts | Airbnb Press Room

press.airbnb.com
Quotes
  • "6M+ Airbnb listings worldwide "
p

Airbnb Hosts Share More Than Six Million Listings Around The World

press.airbnb.com
Publication Year: 2019
From Part 09

Sharing Economy - Airbnb Experience Competitors

askwonder.com
d

Groupon Financial Report 2018

d18rn0p25nwr6d.cloudfront.net
Publication Year: 2019
i

Trip Advisor Financial Report

ir.tripadvisor.com

Discover the best things to do and personal tours for your nexttrip | Top places to see and enjoy | Vayable

vayable.com
c

Vayable - Crunchbase

crunchbase.com

Vayable Inc - Plunkett Research, Ltd.

plunkettresearch.com
From Part 10

Host an experience on Airbnb

airbnb.com
Publication Year: 2019
c

Sidetours

crunchbase.com
Publication Year: 2013

Groupon Buys SideTour To Add Local, Bespoke Activities To Its GrouponLive Events Business – TechCrunch

social.techcrunch.com
Publication Year: 2013

Groupon Closes SideTour and Shuts Down Its Tours Platform

skift.com
Publication Year: 2015
s

Groupon Facts

s24173.pcdn.co
Publication Year: 2019
c

Vayable

crunchbase.com
Publication Year: 2019

vayable Instagram Stats Summary Profile (Social Blade Instagram Statistics)

socialblade.com
Publication Year: 2019

Vayable Twitter Stats Summary Profile (Social Blade Twitter Statistics) - SocialBlade.com

socialblade.com
Publication Year: 2019
c

TripAdvisor

crunchbase.com
Publication Year: 2019
i

Annual Report TA

ir.tripadvisor.com
Publication Year: 2019

TripAdvisor Announces Experiences, Tours, And Activities Trend Report For 2018 | TripAdvisor

ir.tripadvisor.com
Publication Year: 2018
From Part 11
i

EXPEDIA, INC. Financial Statement 2017

ir.expediagroup.com
Publication Year: 2017
i

Expedia, Inc. Financial Report 2018

ir.expediagroup.com
Publication Year: 2018
i

Booking Holdings Inc. Financial Statement

ir.bookingholdings.com
Publication Year: 2018
Quotes
  • "During the year ended December 31, 2018, our international business (the substantial majority of which is generated by Booking.com) represented approximately 89% of our consolidated revenues."
  • "Booking.com is the world's leading brand for booking online accommodation reservations, based on room nights booked, with operations worldwide and headquarters in the Netherlands."
c

VRBO - Crunchbase

crunchbase.com
Publication Year: 2019
From Part 12

Airbnb Growth Story Has a Plot Twist — A Saturation Point

skift.com
Publication Year: 2018
Quotes
  • "In the company’s third annual AlphaWise survey of more than 4,000 adult consumers in the U.S., UK, France, and Germany, it found that Airbnb adoption in the U.S. and Europe is slowing, providing an opportunity for online travel agency competitors such as Priceline (Booking.com) and Expedia to grab some share."
  • "Online travel giants like Booking.com and Expedia (through HomeAway) already offer both hotels and alternative accommodations as part of their inventory, and they spend a lot to make sure consumers come to their sites. The major online travel agencies are expected to spend approximately $9 billion in 2017 on paid search and marketing."
  • "During Hilton’s second quarter earnings, CEO Chris Nassetta shared this interesting perspective on Airbnb and the rise of homesharing and vacation rentals. He believes that the more competition there is from the likes of platforms such as HomeAway and Airbnb, that it could likely translate to lower distribution charges from online travel agencies like Booking.com or Expedia — and therefore benefiting the hotel industry."

Airbnb’s Growth Is Slowing Amid Increasing Competition From Booking and Expedia: Report

skift.com
Publication Year: 2018
Quotes
  • "A follow-up to last year’s annual AlphaWise survey of 4,000 consumers in the U.S., UK, France, and Germany, the report found a continuation of slower growth for the homesharing giant in those markets, as well as increasing competition from online travel agencies Booking and Expedia."
  • "For this year’s survey, the percentage of travelers who used Airbnb during the 12 months leading up to October 2018 increased to 27 percent, or about 2 percentage points. In 2017, the percentage of travelers who used Airbnb during the same period increased to 25 percent, up 3 percentage points. By contrast, in 2016, that increase was up 8 percentage points. For this year’s survey, the percentage of travelers who used Airbnb during the 12 months leading up to October 2018 increased to 27 percent, or about 2 percentage points."
  • " In 2017, the percentage of travelers who used Airbnb during the same period increased to 25 percent, up 3 percentage points. By contrast, in 2016, that increase was up 8 percentage points. "
  • "In last year’s report, researchers expected Airbnb to generate approximately 155 million room nights in 2018 in the U.S. and Europe, an increase of 14 percent over 2017. They have since lowered that estimate to approximately 140 million room nights in 2018. In other words, if Airbnb wants to compete head-on with the likes of Expedia and Booking, it needs to bulk up its hotel inventory and offer more than just places to stay and activities like it does at the moment. "
  • "Researchers also noted that outside of the U.S., Booking.com has a higher traffic lead over Airbnb, with 130 million app downloads over Airbnb’s 82 million. In the U.S. however, Airbnb leads with 27 million app downloads, trailed by Expedia with 21 million and TripAdvisor and Booking each with 17 million."

Booking Claims It Beats Airbnb With 5 Million Alternative Accommodations Listings

skift.com
Publication Year: 2018
Quotes
  • "You can consider Booking.com ahead in the listings statistical race — more than 5 million for Booking versus 4.85 million for Airbnb, but Airbnb’s roster includes hotels and Booking’s doesn’t. When including hotels and nontraditional listings, Booking says it has 27 million. Airbnb has recently made a big push to add hotels and go head-to-head against Booking.com."
  • "Booking.com has long had apartment hotels, vacation rentals, and other nontraditional accommodations, and has seen its roster grow 27 percent year-over-year. The company feels its footprint in alternative accommodations hasn’t been adequately portrayed in the press given all the publicity that Airbnb gets."
  • "Fogel points to Booking Holdings’ performance in commenting that he’s pleased with the company’s competitive position. The company’s gross travel bookings increased 19 percent in 2017 to $81.2 billion while net income grew 9.6 percent to $2.34 billion."

Booking.com: The largest selection of hotels, homes, and vacation rentals

booking.com
Publication Year: 2019
Quotes
  • "Established in 1996 in Amsterdam, Booking.com has grown from a small Dutch startup to one of the largest travel e-commerce companies in the world. Part of Booking Holdings Inc. (NASDAQ: BKNG), Booking.com now employs more than 17,000 employees in 198 offices, in 70 countries worldwide. "
  • "The Booking.com website and mobile apps are available in over 40 languages, offer 28,415,905 total reported listings, and cover 148,631 destinations in 229 countries and territories worldwide."
  • "Every day, more than 1,550,000 room nights are reserved on our platform. So whether traveling for business or leisure, customers can instantly book their ideal accommodations quickly and easily with Booking.com – without booking fees and backed by our promise to price match."

10 Airbnb Competitors That You Should Know About | Tripping.com Rentals | Tripping.com

tripping.com
Publication Year: 2018

Expedia’s HomeAway Bet Is Starting to Pay Off

bloomberg.com
Publication Year: 2018
Quotes
  • "After years of updating the company’s aging technology, introducing a guest booking fee and persuading reluctant hosts to handle transactions online, HomeAway’s profit doubled in the second quarter from the same period a year ago. "
  • "HomeAway, and its subsidiary VRBO, are mostly focused on traditional vacation rentals, but under Expedia the unit has pushed into the urban areas dominated by Airbnb. It’s part of a three-way battle in the fast-growing market that also includes Booking Holdings Inc. HomeAway added about 100,000 new listings in the quarter, and now has 1.7 million in total."

About HomeAway

homeaway.com
Publication Year: 2019
Quotes
  • "HomeAway has the best websites around the world to book beach homes, cabins and condos. With more than two million places to stay in 190 countries, travelers can find the perfect vacation home to meet their needs, whether it’s a pet-friendly beach house for 12 or a treehouse for two."
  • "HomeAway was founded by Brian Sharples and Carl Shepherd in February 2005."
  • "We own some of the oldest vacation rental brands in the world, such as Vrbo in the U.S. and Abritel in France. "
v

About Vrbo

vrbo.com
Publication Year: 2019
Quotes
  • "In 1995, Vrbo introduced a new way for people to travel together, pairing homeowners with families and friends looking for places to stay. We were grounded in one purpose: To give people the space they need to drop the distractions of everyday life and simply be together."
  • "Vrbo is part of HomeAway and the Expedia Group family of brands and offers homeowners and property managers exposure to over 750 million visits to Expedia Group sites each month."
c

VRBO

crunchbase.com
Publication Year: 2019
s

VRBO

similarweb.com
Publication Year: 2019
s

vrbo.com Vs. airbnb.com

similarweb.com
Publication Year: 2019
s

homeaway.com Vs. airbnb.com

similarweb.com
Publication Year: 2019
s

airbnb.com Vs. booking.com

similarweb.com
Publication Year: 2019

Expedia CEO to Airbnb and Booking: Not So Fast

bloomberg.com
Publication Year: 2018
Quotes
  • "Right now, HomeAway generates about $300 million in revenue a quarter, or about 10 percent of Expedia’s total. Profit at the unit doubled in the last quarter as the effort to bring listings online and the introduction of a booking fee took hold, Expedia said on July 26."
c

Expedia

craft.co
Publication Year: 2019

About | Expedia Group

expediagroup.com
Publication Year: 2019
From Part 13

Revenue of the U.S. hotel industry 2017 | Statistic

statista.com
d

Hotel Industry Revenue

docs.google.com

U.S. share of Hotel industry

statista.com

HNN - STR: US hotel revenues surpassed $200 billion in 2017

webcache.googleusercontent.com
Publication Year: 2018

IBISWorld - Industry Market Research, Reports, and Statistics

ibisworld.com
Publication Year: 2019
d

Hotel Markt Size Google Doc

docs.google.com
From Part 14

Topic: Sharing services in the U.S.

statista.com

Lodging sharing economy: number of users U.S. 2016 | Statistic

statista.com
Quotes
  • "The statistic shows the number of adult lodging sharing economy users in the United States in 2014 and 2015, as well as a forecats until 2020. In 2015, there was 10.3 million adults using lodging sharing economy services such as Airbnb in the United States. "

Number of Users

docs.google.com

Airbnb has experienced rapid growth in U.S. lodging demand

hotelappraisers.com
Publication Year: 2018
Quotes
  • "According to estimates from AirDNA, the total number of U.S. room nights booked through Airbnb in 2017 was approximately 108.1 million. "
  • "HA&A estimates that Airbnb accounted for approximately 8.1 percent of all paid U.S. lodging demand in 2017."
  • "We estimate its U.S. market share has increased from less than 1.0 percent to more than 8.0 percent during the past four years."

Airbnb faces fresh home-sharing competition from online travel agents

marketingdive.com
Publication Year: 2017
Quotes
  • "Travel industry research group Phocuswright found that, even though the home rental market's revenue is around one-fifth the size of that of hotels, it's grown far faster since 2015, per the Journal."
  • "The U.S. private accommodation market, including short-term vacation rentals, homes and rooms, grew 11% in 2016 compared to the hotel industry's 5% growth, the publication said. It's expected to grow another 8% this year to over $34 billion."

U.S. Private Accommodation Market to Reach $36.6B by 2018: Phocuswright

phocuswright.com
Publication Year: 2017
Quotes
  • "Amid the rise of HomeAway and Airbnb, rental growth has surged in the past few years. Those gains will slow in 2017 and 2018, when the total private accommodations market will reach US$36.6 billion."
  • ""The segment's shift online, the expansion of the concept to include private homes in urban markets, the entrance of OTAs, and numerous innovative startups have all contributed to powering a period of tremendous growth," says Phocuswright's vice president, research, Douglas Quinby."
  • "In 2016, private accommodation grew 11%, nearly twice as fast as the total U.S. travel market. While growth is expected to slow, the segment will continue to outpace the overall market through 2017."
  • "Homeowner and host insights based on a survey of more than 800 rental homeowners and hosts, including who they are, why they rent and what they want"

Vacation Rentals - United States | Statista Market Forecast

statista.com
Publication Year: 2018

VRMA : Blogs : Global Segmentation and Software Spend Among VR Companies

arrival.vrma.org
Publication Year: 2018
i

2019 U.S. Vacation Rental Trends Report

images.elq.homeawaysoftware.com
Publication Year: 2019
Quotes
  • "The numbers are in, and the vacation rental segment is looking stronger than ever: U.S. revenue hit over $13 billion in 2018, with a projected annual growth rate of 7.2%."
  • "Chris Carnicelli, CEO of Generali Global Assistance, shared a 2018 study revealing the top three decisionmaking factors for where U.S. travelers will stay: • Location (63%) • Value (57%) • Online reviews (33%) – which increased from 31% in 2017"

The state of the U.S. vacation rental industry in 2018 - Hostfully

hello.hostfully.com
Publication Year: 2019
Quotes
  • "Did you know that there are over 23,000 vacation rental companies in the U.S.? More than a year ago, Phocuswright announced that the U.S. private accomodation market will reach $36.6B by 2018. A large portion of this includes vacation rentals."
  • "The total number of vacation rental companies in the U.S. is currently at 23,000, which makes up 20 percent of all the vacation rental companies in the world. The average compound annual growth rate for this decade so far is 8.5 percent, which means this is a booming industry!"
  • "To calculate this, the report used the compound annual growth rate from 2014-2017 (10.00 percent according to Piper Jaffray) and 2017-2021 (7.07 percent according to Technaivo Research)."
  • "The report notes that 70 percent of the vacation rental companies are small, managing 1-19 units. 20 percent of all vacation rental companies are medium-sized and manage about 20-99 units, and the remaining 10 percent are large companies that manage over a 100 units."
  • "There are 9 million second homes in the U.S., and 25 percent of those are rented through property management companies. Each of those companies has on average 100 units, so the total number of the vacation rental companies in 2018 in the United States is approximately 23,000."

The State of Online Distribution in the Vacation Rental Industry

rentivo.com
Publication Year: 2017
Quotes
  • "The survey is a snapshot of 10,000 different owners and managers. The survey covers an estimated 8,000+ properties. The survey has a wide and evenly distributed range of participants from all around the world, with properties from 1 – 250+ per manager."
  • "North America has the largest share of direct bookings with 41.1%. VRBO & HomeAway are still the best performing OTAs for North America, with 41% of OTA bookings. Alternative listing sites are barely used and make up only 0.9% of all bookings. Booking.com has not penetrated the US market for vacation rentals yet, but TripAdvisor is performing nearly as well as Airbnb."

Vacation Rental Market Survey 2018-2019 - Syncbnb

syncbnb.com
Publication Year: 2019

Global Vacation Rental Market Analysis & Forecasts 2018-2022, With an Expected CAGR of 6.89% - ResearchAndMarkets.com

businesswire.com
Publication Year: 2018
Quotes
  • "Vacation rentals are alternate lodging options comprising short-term rental apartments, farm stays, private homes, cabins, beach houses, villas, cottages, and chalets."