Why Hotels Need to Worry About Millennials and the Sharing Economy
Skift Take
With the U.S. hotel industry performing well, it is losing some business from the sharing economy, but there isn't a lot of hurt yet. That could come later.
When the CEOs of many big hotel chains, such as Marriott's Arne Sorenson, are asked to comment about the rise of sharing-economy sites such as Airbnb, they often talk about the trend as if it were an interesting sideshow because for the most part they haven't felt much hurt yet.
But, a new report from PhoCusWright on private accommodation rentals -- vacation homes, apartments and rooms -- should give the entire lodging industry something to think about.
Although the report, Share This! Private Accommodation & the Rise of the New Gen Renter, finds that U.S. leisure travelers' propensity to book private accommodations increased to 14% in 2013, up from 8% in 2010, it points
