Airbnb stock tumbled after the company predicted slowing demand. Some Airbnb fans say they now favor hotels' consistency and cost-effectiveness.
  • Airbnb stock tumbled 14% in one day after the company predicted slowing demand.
  • Some former Airbnb diehards say they now prefer the consistency of hotels.
  • Airbnb said it might increase travelers’ ability to book hotel rooms through Airbnb.
  • AA5B@lemmy.world
    2·
    2 months ago

    I also don’t really buy the harm to neighbourhoods thing

    I also used to think that, since I haven’t heard it being a problem near me. However a week or so ago, I saw a statistic that 20% of single family home purchases in the US are now by corporations. That’s not just short term rentals but a couple of large companies have gotten into real estate hedging and flipping in a big way.

    So, yes, if that statistic is true, there are a huge number of neighborhoods transitioning from owner permanent residences to corporate owned and short term stay. I can see that corporate role increasing prices and definitely short term stay people will affect the neighborhood or aren’t as likely to care for the property