Airbnb bookings are up 59 percent, but muted in major markets
Image credit: Jesse Schoff (via Unsplash)
Airbnb's first three months of 2017 are marked with muted growth rates in 14 of the short-term rental service’s top 20 metropolitan markets. Slice Intelligence reports that Los Angeles and New York, the markets with the largest number of Airbnb bookings, were impacted the most by slowed growth.
While bookings aren't increasing as quickly as they had been previously, bookings overall are up. San Francisco, the third largest Airbnb market, saw bookings increase by 34 percent. Similarly, Nashville and Boston experienced increased growth in bookings during the period. Overall, Airbnb bookings jumped up 59 percent so far this year.
Hotel and Airbnb guests don’t mix, but this is changing
Data shows the majority of travelers still stay exclusively at hotels. Eighty percent of travelers in the last three months exclusively booked online with a traditional hotel. That said, the overlap between these travel models are increasing. Twenty percent of travelers in the last three months opted to stay at either an Airbnb for some or all of their nights away from home. That's an eight percent increase from the first quarter of 2015.
Airbnb bookings outlast the weekend
Airbnb guests stay a full day longer than travelers who book with traditional hotel chains. Since the start of 2016, Airbnb guests have booked their stay for an average of 3.4 nights. In contrast, guests at regular hotels stayed for just two nights, enough for a weekend getaway.
Airbnb’s brand is growing thanks to millennials
Airbnb's growth continues to be driven by millennial travelers. Almost half of Airbnb patrons in the last year have been between the ages of 18 and 34. Only 29 percent of guests who booked through traditional hotel sites were members of the millennial generation.
About this data
With a panel of over 4.7 million online shoppers, Slice Intelligence gives the most detailed, and accurate digital commerce data available, and is reported daily.
Slice Intelligence is the only service to measure digital commerce directly from the consumer, across all retailers, at the item level, and over time. Our retailer-independent methodology precisely measures commerce as it happens. By extracting detailed information from hundreds of millions of aggregated and anonymized e-receipts, Slice can map the entire Purchase Graph, connecting each and every consumer to all their purchases.
Slice gets its data from e-receipts – not a browser, app or software installed by the end-user – so its measurement reflects comprehensive shopping behavior across multiple devices, over time which are key in an increasingly omnichannel retail world. Slice Intelligence is the exclusive e-commerce data provider for the NPD’s Checkout Tracking e-commerce service.