•David

Morgan Stanley analysts draw these conclusions from a survey of 4000 travelers:

• Only 42% of Airbnb use cannibalizes traditional hotels, 36% BnBs.
• Airbnb users are wealthier than non-users.
• Right now Airbnb is primarily targeting long-duration leisure stays (vice 1-night business stays).
• If only 20% of Airbnb's 2020 room nights come at the expense of OTAs, OTA room-nights will be down 7% long-term

To which I would add: since Airbnb users are wealthier than hotel/BnB users, perhaps lower-priced traditional accommodations in traditional destinations are in the best shape to compete with Airbnb.