Issue link: https://digital.copcomm.com/i/1152980
B M & T ••• July/August 2019 ••• www.blackmeetingsandtourism.com 30 60% of Travelers Prefer Airbnb Over Comparable Hotels When Going on Vacation Airbnb is, in many ways, a Pandora's Box for the hotel industry: Once vacationers give it a try, it typically becomes their preferred vacation lodging option. We found that 60% of travelers who have used both Airbnb and hotels prefer Airbnb for vacation lodging. Despite this preference, travelers reported similar levels of satisfaction with their most recent Airbnb and hotel experi- ences, averaging 4.2 stars for hotels and 4.3 stars for Airbnb. If travelers report similar levels of satisfaction for both types of lodging, why is Airbnb the preferred option? David Guttentag, professor at the Ted Rogers School of Hospitality and Tourism Management, identifies five types of Airbnb guests based on his 2016 study[3]: Money savers: Choose Airbnb because of affordability Home seekers: Interested in household amenities and larger spaces Collaborative consumers: Motivated by the share econo- my philosophy and the ability to have an authentic experi- ence Pragmatic novelty seekers: While not regular Airbnb users, these travelers are drawn to the novelty of Airbnb Interactive novelty seekers: Want to interact with their host or other locals Our research confirms these findings. Additionally, we found that affordability, authenticity, and household ameni- ties motivate the majority of Airbnb users in 2019. The most common words travelers associate with Airbnb include "authentic" and "affordable," and 77% of travelers surveyed believe Airbnb provides a more authentic experi- ence than a hotel. "Price" also ranks as one of the top reasons travelers prefer Airbnb. Airbnb's competitive advantage seems to stem from its ability to provide experiences that traditional hotel chains cannot, while simultaneously offering competitive rates. Airbnb travelers get to feel like they're actually living in their destination city or town for a few days, with all of the household accommodations we've become accustomed to in our own day-to-day lives. The Majority of Business Travelers Prefer Staying in Hotels When Traveling for Work. While hotels appear to be losing market share among tourists, they remain the preferred option for a majority of business travelers. 68% of businesspeople surveyed said they prefer hotels to Airbnbs or comparable vacation rental serv- ices when traveling for work. Business travelers know what to expect from hotels, and hotels can provide services and accommodations Airbnb can- not. In fact, 90% of Airbnb's revenue came from tourism and personal travel in 2017[4], indicating the company is still struggling to tap into the business market. 24/7 front desk services, on-site fitness centers, room serv- ice, complimentary breakfasts, and other amenities keep busi-