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The US destined travel is down since October and the trend downwards is consistent. Square who should have fairly up-to-date stats recently published their stat

• lotsofpulp 9y ago
  It already has in NYC. Look up hotel room rates tonight for Manhattan, they're in the $150s even for full service hotels. In my experience, for a sunny summer Saturday night in Manhattan, a lot of hotels used to have minimum 2 night stay restrictions, and only Sat nights would be $300+ per night. There were tons of more rooms built, but still, demand was not expected to drop this quickly this much.
  • misiti3780 9y ago
    how do you know the low rates are not the result of competition from Airbnb ?
    • wayn3 9y ago
      people who stay in $300+ rooms dont stay in airbnb just because its available. airbnb rooms of comparable luxury are rarely cheaper than hotels.
    • lotsofpulp 9y ago
      I work in the space, and while I can't conclusively state that it isn't, industry reports indicated a downturn in demand or increase in supply mostly towards the end of last year (via reduced occupancy percentages and average daily rate). Airbnb has been around for a while in NYC, and if anything, per news reports, I would expect their listings to actually be fewer or holding steady based on the local governments restrictions. Even if it was increased supply, there seems to be a more sudden drop in average daily rate in the past 6 to 9 months than before.
    • madeofpalk 9y ago
      Because airbnb has been around and haven't done anything recently that would cause such a dip.