These are not the only differentiators. Certainly airbnbs cannot be run or priced the same as hotel rooms (and by which measure?). In the end, few hotels offer

These are not the only differentiators. Certainly airbnbs cannot be run or priced the same as hotel rooms (and by which measure?). In the end, few hotels offer a lived in space, or enough space, or a lived in location, etc, etc. There is space for airbnbs. And in many areas there are very few hotels anyway. From the other side, an airbnb "owner" does not need to price his assets the same way either. Normally, running the airbnb is not their only business or it's not their full time activity. And both a hotel and an airbnb can price very dynamically but not in the same way: a hotel has many rooms and high fixed costs while an airbnb manager has only one or few and often no fixed costs (if the room is not held primarily for renting out.)