Airbnb Growth Threatening Hotel Biz

Airbnb's quick and large-scale growth is becoming increasingly worrisome for the hotel industry, who worry that without regulation, the short-term rental site will start cutting into their profits. Although Airbnb offerings make up only 6% of the hotel industry's room supply, that number has risen several percentage points in the past year alone, and a recent Morgan Stanley report revealed that half of Airbnb users surveyed had used it to replace staying in a traditional hotel room. According to Buzzfeed, "In terms of awareness Airbnb is already approaching the same frequency as mainstream hotel and travel-booking brands, such as Expedia and Marriott." Read more on Airbnb's growth, and concerns over regulation here.