Fast growth but low market share for ‘sharing’ accommodation platforms – Experts see major impact on residential accommodation – ITB Berlin exclusively publishes results from the World Travel Monitor® Forum
So-called ‘sharing’ accommodation providers may be growing fast but they still have a relatively low share of the overall hospitality market in Europe. Their main impact is in cities where they generate significant numbers of visitors but also reduce residential accommodation, according to experts. Those were some of the results of the 24th World Travel Monitor® Forum.
Only 3 percent market share for ‘sharing’ accommodation
The so-called ‘sharing’ economy has boomed in recent years with the rise of firms such as Airbnb which have disrupted the leisure accommodation sector. However, they remain niche players, according to figures from the World Travel Monitor®. In 2015, Europeans booked so-called ‘sharing’ accommodation for 14 million outbound trips, which was a mere 3 percent of all their international trips. Nearly two thirds of these bookings were for apartments/flats and holiday homes, while only about 15 percent were for private rooms or B&B stays.
“These apparently low figures may seem surprising considering how often ‘sharing’ companies make headlines about their dynamic growth, but they also show the sizeable future potential for these players,” commented Dr. Martin Buck, Messe Berlin’s Senior Vice President.
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