3 Charts Showing Growth of Short-Term Rentals vs. Hotel Online Bookings
Photo Credit: About 62 percent of the world's short-term rentals will be booked online by 2020. Pictured is an Airbnb rental in Aspen, Colorado. Airbnb
Skift Take
Online hotel bookings remain much more valuable than online short-term rental bookings and will see larger long-term online growth as more travelers use their devices to book a room and move away from alternative booking methods.
There's no question short-term rentals made a splash around the world this year -- mainly from the likes of Airbnb -- even amidst the backdrop of ongoing regulatory battles, discrimination debates, and fresh product launches aimed at owning more of travelers' trips.
As of March, some 32 of the 59 largest U.S. cities (54 percent), for example, had some kind of restriction in place for short-term rentals and 28 of those cities' restrictions are considered hostile.
While short-term rental year-over-year online bookings growth each year looks much healthier than that of hotels through 2020, according to data from market research company Euromonitor International, hotels definitely aren't the underdog when comparing growth from 2015 to 2020, and that's highlighted in the charts below.
For one, the value of short-term bookings across all regions remains dramatically lower compared
