Mike Barnello, CEO of LaSalle Hotel Properties, discussed just how far Airbnb has come as a hotel industry disruptor during his quarterly earnings call on Friday. Barnello stated: “…( Airbnb) is a growing concern on a number of levels… They came out and said that Airbnb accounted for 5% of the room revenue in New York City during that second quarter of 2015. I also said that it was 9% of demand in New York City for August, those are big numbers.” The company recently announced plans to expand into San Francisco with an initial launch planned by early 2017.
Mike Barnello, CEO of LaSalle Hotel Properties, discussed just how far Airbnb has come as a hotel industry disruptor during his quarterly earnings call on Friday. Barnello stated: “…(Airbnb) is a growing concern on a number of levels… They came out and said that Airbnb accounted for 5% of the room revenue in New York City during that second quarter of 2015. I also said that it was 9% of demand in New York City for August, those are big numbers.” Furthermore, he noted that there is anecdotal evidence from different properties owned by LaSalle of long-time customers switching to Airbnb.