Video:

A slice of the short term accommodation market

Author: Tom Walsh

Categories: Alternative Accommodation, North America
Tags: Airbnb, aparthotels, Europe, hostel, hybrid, New York
We firmly believe looking at the Australian market, the North American market, the Australian market where 25 percent of the stock is aparthotels/serviced apartment, North American market, around 10 percent, but the cities in North America in double digits and growing faster than the hotel supply, that the hundred percent hotel map that we have in Europe at the moment, and most of it is really, most short term accommodation is provided by hotels. If you look forward five to ten year, that's going to get chipped away and one of that, one of the slices that we think will be in there will be aparthotels, undoubtedly Airbnb will take, another piece, and I heard they might have done something like 5 percent of overnight stays in New York in the last year. So they'll take a slice, we'll take a slice, hotel-hostel hybrids will take a slice, some of them are great places to stay, but we're firm in our belief that, you know, apart hotels and serviced apartments will have a slice of that in the next five to ten years when we look at the, you know, the 100 percent pie that is short-term accommodation.
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