(Back photo: Open Grid Scheduler/Flickr; front photo: Pixabay)
For the time being, at least, Morgan Stanley believes the future for hotels is looking brighter, while the newness of Airbnb wears thin and safety concerns loom large.
A new Morgan Stanley survey showed Airbnb’s growth is slowing — a finding which resulted in the firm increasing its forecast for the hotel industry’s revenue per available room.
Though the number of travelers booking their accommodations through Airbnb is still rising, 80 percent of travelers are now knowledgeable of the service and many still choose other options. The finding makes Morgan Stanley’s Brian Nowak believes Airbnb has reached the end of “easy growth,” according to Barron’s.
The survey also found that an increasing number of respondents who hadn’t booked through Airbnb said they didn’t use the service because of concerns about safety and privacy.