Americans are using it, but that's a very tiny slice. The local market isn't using it and that's where the bulk of the money is. Using your logic, that would

Americans are using it, but that's a very tiny slice. The local market isn't using it and that's where the bulk of the money is. Using your logic, that would mean Airbnb is working the US, because Chinese people are using it in the US. Also, you are literally paying the same local landlord plus service fees to Airbnb. It is known that the exact same apartment can be listed +10% more on Airbnb. Look at all the medium size indie hotels that are popping up all around Asia, and you can see that the local people still prefer hotels.