Airbnb July 4 Report

July4Weekend:Consumers
embraceAirbnb,save
millions,anddeclare
independencefrombig
hotelcompressionpricing
July 4 Weekend is a cherished part of the summer travel season and for countless families
seeking an affordable vacation, every dollar counts. This is one of the many reasons why more
consumers are embracing Airbnb as an affordable travel option. Sadly, the big hotel chains and
their trade group, the American Hotel and Lodging Association (AHLA), have continued a
coordinated attack on the middle class hosts who share their space on Airbnb.
Despite four years of record rates and record profits, the big hotel chains are targeting people
who share their homes because they want to continue exploiting their control of supply in
markets in order to use compression pricing, the industry term for price gouging, to raise prices
for consumers.
In addition to offering authentic experiences, Airbnb has succeeded by providing a platform for
hosts to make their space available for occasional short-term rentals and increasing choices for
consumers who want to avoid compression pricing. In fact, in 18 cities and five common tourist
destinations over July 4 Weekend this year, travelers so far have saved an estimated $27
million by choosing Airbnb instead of the typical big chain hotel. Consumers are getting more
affordable choices and more value, too -- many Airbnb listings include kitchens, wifi, a
washer/dryer and other amenities.
Airbnb also makes city economies stronger. With roughly three quarters of our listings located
outside hotel zones, Airbnb gives millions of everyday people the chance to travel to cities and
neighborhoods they might have missed had they stayed in a hotel. And Airbnb guests stay
longer and spend more money in the communities they visit than a typical hotel guest: 31
percent of the people who travel on Airbnb say they would have stayed home or wouldnt have
stayed as long but for Airbnb; up to 50 percent of guest spending occurs in the neighborhoods
where they stay; and 97 percent of the listing price stays with their hosts in the communities
they visit, unlike big hotel chains that take their profits out of the communities where they do
business.
In an effort to contribute more information and data to the discussion about how Airbnb is saving
consumers millions of dollars and providing affordable options that bring more tourism to cities,
Airbnb is releasing a new report regarding compression pricing around the July 4 Weekend,
when a record number of people are expected to travel and a hotel room is expected to cost
$185 per night.
This report builds our previous analyses and highlights hotel compression pricing and Airbnb
savings over the July 4 Weekend. The report is divided into three parts:
PartOne:Fightingcompressionpricing
Part One recaps big hotel chains propensity to use compression pricing and hurt
consumers even when enjoying record-breaking rates and profits. It also reviews what
[July4Weekend:ConsumersembraceAirbnb,savemillions,anddeclareindependencefrombighotel
compressionpricing]
2
these big hotel executives and industry experts are saying about Airbnbs impact on their
ability to exploit traditional hotel supply and raise prices on consumers.
PartTwo:ConsumersSaved$12MilliononJuly4weekendlast
yearusingAirbnb
In Part Two, we discuss how Airbnb is increasing supply and creating a marketplace that
is more fair, more transparent, and offers more choices for consumers. This work is in
stark contrast to the corporate hotels that benefit when supply is restricted. We then
compare hotel and Airbnb pricing data from July 4 Weekend 2016 in 18 cities and five
common tourist destinations. The analysis indicates that Airbnb users saved a combined
total of $12.4 million compared to what they would have spent had they stayed in hotels.
PartThree:Estimated$27Millioninsavingswithgreat
amenitiesthisyear
Part Three introduces evidence indicating how Airbnb is continuing to offer affordable
options for July 4 Weekend this year, all while providing unique accommodations that
include amenities for which big chain hotels typically charge extra or, worse yet, roll into
hidden resort fees. The analysis indicates travelers have so far saved an estimated $27
million by choosing Airbnb instead of the typical big chain hotel for the holiday weekend
this year. Further, the vast majority of Airbnb listings provide free wifi and have a washer,
dryer and kitchen.
This analysis comes at a time when the travel and hospitality sector is surging. Travel accounts
for 10 percent of global GDP (bigger than the oil industry and growing faster than many other
sectors), claiming one in every 10 jobs. The annual number of global air passengers is
approaching 4 billion, increasing by 3 billion in just the past three decades. As the industry
continues to grow, Airbnb is democratizing travel, bringing more people and more communities
the opportunity to benefit from tourisms growth. In addition to one-third of Airbnb guests
worldwide saying they either would not have traveled or would not have stayed as long without
Airbnb, 89 percent say their listing locations were more convenient than hotels.
We look forward to continuing our work to spread the benefits of travel to more people by
creating a fair, transparent travel marketplace that gives consumers more affordable,
meaningful choices.
compressionpricing]
3
PartOne:Fightingcompressionpricing
Big hotel chains rely on compression nights to boost profits and take advantage of big events
and other popular travel dates when hotels are largely sold out. According to UBS, big hotels
make anywhere from 35 percent to 70 percent more revenue per available room by increasing
prices on so-called compression nights, and R euters noted that these nights contribute 25
percent to 30 percent to their annual profits.
These compression nights are a fundamental part of the big hotel chain business model. As one
hotel industry pricing expert said:
Compression is a beautiful thing for revenue managers. On

those nights when market has occupancies above 95
percent, they can set rates at 50 percent or higher than
normal.
- Mark Brandau, Director of Content, Duetto Research
Compression pricing goes far beyond simply responding to supply and demand forces. The
hotel industry has long distorted the market and worked to limit consumers access to affordable
choices. As DiamondRock Hospitality CFO Sean Mahoney recently told investors, particularly
on one of these high compression markets, we are trying to push rate a little bit more.
DiamondRock CEO and big hotel lobby board member Mike Brugger was more explicit: we are
making sure that we can get some compression he said of their hotel in New York.
In order to provide choice to consumers and support hosts looking to use their spaces to make
extra money, Airbnb has focused on increasing the supply of accommodations available and
giving consumers access to a more efficient, more transparent and fair marketplace where they
can have meaningful, affordable options. There have been more than 200 million guest arrivals
in Airbnb listings since the platform was founded in 2008. Airbnb hosts set the price of their
listing and have helped markedly increase the supply of accommodations, giving consumers
more and better choices.
At the same time, the big hotels have earned record amounts, with the US hotel industry raking
in $76.2 billion in profits in 2016, an all-time high and the fourth straight year of record-breaking
profits. Additionally, the average daily rate (ADR) for a hotel room in the US hit a record $123.97
in 2016, also the fourth straight year of record rates and over $40 more than the ADR in 2001.
compressionpricing]
4
Even as the hotel industry enjoys record success, many hotel executives have grown concerned
that Airbnb, and the popularity of home sharing, will limit their ability to earn even more money
from compression pricing in the future. While some analysts disagree on whether home sharing
has already limited the hotel industrys ability to use compression pricing, hotel executives
clearly are concerned about losing their ability to raise prices:
In July 2015, Pebblebrook Hotels CEO and big hotel lobby leader Jon Bortz said his
company used to have an ability to price at maybe what the customer would describe as
sort of gouging rates, but, because of Airbnb, hotels have lost a lot of that ability at this
point.
In December 2016, Marriott Senior Vice President Laura Paugh lamented the fact that
they dont get as much ability to really press pricing as much as wed like for leisure
events because we've got less demand compression because of Airbnb.
And in October 2016, LaSalle Hotel Properties CEO Mike Barnello openly celebrated a
law passed in New York to restrict short-term rentals, saying that it would be a big boost
in the arm for the business, certainly in terms of the pricing.
Hotel executives have acted on their fears. Leaked hotel industry documents detail how the big
hotel lobby has put in place a major campaign to try to prevent regular people from sharing the
home in which they live. As reported by the New York Times, one reason is clear:
Airbnb has brought hotel pricing down in many places during

holidays, conventions and other big events when room rates
should be at their highest and the industry generates a
significant portion of its profits.
- Vijay Dandapani, chief executive of the Hotel Association of New York City,
which works with the American Hotel and Lodging Association.
compressionpricing]
5
PartTwo:Consumerssaved$15.5millionon
July4weekendlastyearusingAirbnb
Airbnb and home sharing more broadly already offer an affordable option to consumers looking
for a place to stay during events and over popular weekends and holidays. Airbnb hosts set the
price of their listing and keep 97 percent of the price they charge for their space. And Airbnb
works to increase the supply of accommodations, encouraging community members to open
their homes and meet the demand for an affordable place to stay. This work has created a
marketplace that is more open and transparent, and offers consumers more meaningful,
affordable choices.
In contrast, hotels benefit when the supply of accommodations is limited and restrictions that
limit supply give hotels almost unlimited power to use compression pricing in a way that harms
consumers.
We wanted to learn more about the savings Airbnb has generated for consumers on July 4
weekend. To get a complete picture, we compared average hotel to Airbnb room prices in 18
cities and five common tourist destinations during the holiday weekend in 2016. Our analysis
indicates that by booking through Airbnb, consumers saved $62.84 per room, or an estimated
$15.5 million compared to what they would have spent at hotels.
Airbnbvs.HotelPricesin18Citiesand5CommonTouristDestinationsforJuly4
Weekend2016
Average TotalRoom
Average Average Airbnb Nights
HotelRoom AirbnbRoom Savingsper Bookedon TotalAirbnb
City Price Price Room Airbnb Savings
New York, NY $208.30 $116.44 $91.86 55,244 $5,074,817.47
Los Angeles, CA $181.28 $123.08 $58.20 38,507 $2,241,215.57
New Orleans, LA $216.42 $129.14 $87.28 10,124 $883,636.28
San Francisco, CA $200.03 $141.58 $58.45 14,077 $822,827.85
San Diego, CA $188.23 $130.35 $57.88 12,875 $745,140.86
Chicago, IL $159.85 $100.16 $59.69 11,369 $678,589.34
Miami, FL $223.82 $133.96 $89.86 7,105 $638,485.48
Washington, DC $176.73 $109.41 $67.32 9,132 $614,799.38
Portland, OR $157.34 $101.41 $55.93 10,639 $595,079.87
compressionpricing]
6
Cape Cod, MA $273.73 $161.28 $112.45 5,260 $591,484.58
Boston, MA $227.82 $130.04 $97.78 5,922 $579,065.24
Denver, CO $141.08 $100.93 $40.15 7,879 $316,335.32
Philadelphia, PA $144.97 $80.60 $64.37 4,732 $304,585.36
Nashville, TN $149.85 $116.65 $33.20 8,288 $275,125.54
South Lake Tahoe, CA $203.37 $151.31 $52.06 5,020 $261,354.36

Miami Beach, FL $126.14 $83.99 $42.15 5,733 $241,674.16
Atlanta, GA $115.56 $79.77 $35.79 4,254 $152,248.83
Virginia Beach, VA $225.66 $107.57 $118.09 898 $106,045.24
Charleston, SC $174.70 $136.17 $38.53 2,703 $104,159.87
Hilton Head Island, SC $268.89 $114.32 $154.57 651 $100,628.14

Fort Lauderdale, FL $134.42 $92.12 $42.30 1,750 $74,026.05
Long Beach, CA $145.89 $100.02 $45.87 1,450 $66,508.80
Milwaukee, WI $139.86 $82.84 $57.02 760 $43,331.49
WEIGHTED AVERAGE $182.82 $119.98 $62.84 TOTAL $15,511,165.08
compressionpricing]
7
PartThree:Estimated$27millioninsavings
withgreatamenitiesthisyear
This years July 4 Weekend is shaping up a lot like last years: more Airbnb savings with great
amenities included for consumers at their listings.
In the same 18 cities and five common tourist destinations surveyed, Airbnb room rates for
bookings so far during the July 4 Weekend average $116.37 per night, $3.61 less than last year,
a decrease of 3%. Based on an average of typical big hotel chain rates found on their websites
more than a week before the holiday weekend, thats no less than $40 in savings per room in
each destination, in some cases over $150 in savings per room. All together, consumers have
so far saved an estimated $27.2 million choosing Airbnb instead of the typical big chain hotel for
the July 4 Weekend this year.
Airbnbvs.BigHotelChainPricesin18Citiesand5CommonTouristDestinationsfor
July4Weekend2017
Average
TypicalBig Average Average Airbnb
HotelChain Airbnb AirbnbSavings RoomNights TotalAirbnb
City RoomPrice RoomPrice perRoom Booked Savings
Los Angeles, CA $278 $117.80 $160.20 37,207 $5,960,561.40
New York, NY $192 $111.67 $80.33 49,450 $3,972,318.50
Chicago, IL $291 $103.84 $187.16 15,358 $2,874,403.28
New Orleans, LA $284 $127.19 $156.81 12,212 $1,914,963.72
Nashville, TN $280 $123.66 $156.34 10,606 $1,658,142.04
San Francisco, CA $231 $131.28 $99.72 13,151 $1,311,417.72
Portland, OR $215 $101.86 $113.14 11,268 $1,274,861.52
Cape Cod, MA $283 $156.77 $126.23 8,384 $1,058,312.32
Denver, CO $211 $99.97 $111.03 8,790 $975,953.70
Boston, MA $269 $134.75 $134.25 6,916 $928,473.00
South Lake Tahoe, CA $295 $150.08 $144.92 5,235 $759,075.00

Charleston, SC $305 $130.93 $174.07 3,975 $691,928.25
Miami, FL $266 $134.98 $131.02 5,155 $675,408.10
San Diego, CA $173 $129.88 $43.12 14,989 $646,325.68
Washington, DC $156 $104.25 $51.75 9,242 $478,273.50
compressionpricing]
8
Philadelphia, PA $165 $69.85 $95.15 4,261 $405,434.15
Miami Beach, FL $151 $85.86 $65.14 5,330 $347,196.20
Hilton Head Island, SC $315 $119.39 $195.61 1,611 $315,127.71

Atlanta, GA $128 $74.61 $53.39 4,267 $227,815.13
Virginia Beach, VA $285 $123.59 $161.41 1,345 $217,096.45
Long Beach, CA $204 $102.13 $101.87 2,029 $206,694.23
Milwaukee, WI $215 $105.50 $109.50 1,554 $170,163.00
Fort Lauderdale, FL $189 $91.91 $97.09 1,698 $164,858.82
WEIGHTED AVERAGE $116.37 (-3%) TOTAL $27,234,803.42
Further, a vast majority of Airbnb listings provide free wifi and have a washer, dryer and kitchen.
In contrast, many of the corporate hotel chains charge extra for amenities like wifi, parking and
laundry, or roll them into hidden resort fees, estimated in a January 2016 study by the advocacy
group Travelers United at $24.93 per day in the US, and costing US hotel guests a record $2.55
billion in 2016.
The fees have long been a scourge of consumers: a former Consumer Reports editor called
them unfair and deceptive and the Consumer Federation of America described them as an
insidious pricing practice. The Federal Trade Commission recently concluded that the fees are
likely to harm consumers and are increasingly being charged by hotels in urban areas. Even
as members of Congress are trying to pass legislation to crack down on these fees following the
widespread outcry, the big hotel lobby continues to defend the fees, which reportedly account
for 17 percent of US hotel revenue.
AirbnbAmenitiesin18Citiesand5CommonTouristDestinationsforJuly4
Weekend2017
%ofBooked
%ofBooked Listingsthat %ofBooked
Listingswith HaveaWasher Listingsthat
City FreeWifi andDryer HaveaKitchen
Los Angeles, CA 98% 74% 91%
New York, NY 98% 35% 93%
Chicago, IL 97% 74% 95%
New Orleans, LA 96% 67% 88%
Nashville, TN 98% 74% 90%
San Francisco, CA 98% 65% 86%
Portland, OR 99% 67% 86%
compressionpricing]
9
Cape Cod, MA 97% 61% 83%
Denver, CO 99% 82% 94%
Boston, MA 98% 65% 93%
South Lake Tahoe, CA 95% 87% 96%

Charleston, SC 94% 73% 91%
Miami, FL 97% 68% 90%
San Diego, CA 98% 76% 91%
Washington, DC 98% 81% 92%
Philadelphia, PA 97% 73% 92%
Miami Beach, FL 98% 72% 89%
Hilton Head Island, SC 97% 89% 97%

Atlanta, GA 96% 80% 94%
Virginia Beach, VA 96% 74% 86%
Long Beach, CA 96% 69% 90%
Milwaukee, WI 96% 75% 92%
Fort Lauderdale, FL 99% 79% 91%
compressionpricing]
10
Conclusion
Typically, when demand surges on the Airbnb platformfor example, during the 2017 Super
Bowl in Houston or the 2016 Democratic National Convention in Philadelphiasupply also
surges with more local families deciding to rent out their space. And while fluctuation in the price
of any accommodation is natural and appropriate, on Airbnb, supply and demand increase at
the same time, which helps ensure consumers have access to affordable options.
The Airbnb model seeks to align hosts, travelers and communities. Airbnb helps hosts use what
is often their greatest expense, the cost of their housing, to generate supplemental income.
While Airbnb hosts keep 97 percent of the money they charge for their space and have total
control over the price of their listing, Airbnb helps hosts by giving them pricing support tools,
information and access to a fair, open and transparent market. Airbnb supports travelers by
providing more accommodation options, and Airbnb is focused on growing the supply of
accommodations to increase consumer choice and promote a true two-sided open and fair
marketplacenot limit consumer choices. At the same time, this marketplace strengthens cities
by spreading the benefits of tourism to more people and communities. Typically, up to 50
percent of guest spending occurs in the neighborhood where they stay.
For too long, hotels have had nearly unchecked power to raise rates and price gouge
consumers at will. While more research into this matter is necessary, it is clear that Airbnb has
given consumers more affordable accommodation options and left hotel industry executives
deeply concerned about their ability to price gouge consumers in the years ahead.
compressionpricing]
11
Methodology
2016 July 4 weekend hotel room prices, known in the industry as average daily rate (ADR),
were purchased from STR Inc., the premier provider of global data benchmarking, analytics and
marketplace insights for the hotel industry. STR defines ADR as room revenue divided by rooms
sold, with room revenue generally excluding fees and taxes. Additional costs such as resort fees
and charges for amenities like wifi and parking are not included in this figure.
2017 July 4 weekend big hotel chain room prices were calculated by taking the average of the
listed cost of a standard, two-person room at an economy, midscale, upscale and luxury hotel in
each of the cities from one of the following companies: Marriott, Hilton, Wyndham, IHG, Hyatt,
La Quinta, Four Seasons, Loews, G6 Hospitality, Choice Hotels, Vagabond Inn, and Aston
Hotels and Resorts. The hotel classes are defined by STR, combining their upper upscale and
upper midscale definitions into upscale and midscale, respectively. In the case of South Lake
Tahoe, Cape Cod, Charleston, Hilton Head Island, and Virginia Beach, rooms at luxury chain
hotels were unavailable, so an upper upscale hotel was used. All searches were conducted
more than a week before the holiday weekend on the companies own websites, and a full list of
each of the hotels and their prices can be found in the appendix.
Airbnb room prices reflect the average price paid per room by guests for listings booked on
Airbnb. For example, a single Airbnb listing with two separate bedrooms was treated as two
rooms for the purposes of this analysis. The room price includes all fees applied to the listing by
the host and the service fee charged by Airbnb and excludes taxes. Shared-room listings were
not included in the analysis, and the 2017 data is current as of June 21.
To calculate the average room prices across the holiday weekends, the daily room prices were
weighted on the share of total room nights booked during the Friday, Saturday and Sunday, and
Monday nights for both 2016 and 2017.
compressionpricing]
12
Appendix
Below are 2017 July 4 weekend big hotel chain room prices for the 18 cities and five common
tourist destinations included in this report found in searches conducted more than a week before
the holiday weekend on each of the companies websites. The rates are the listed cost of a
standard, two-person room for the Friday, Saturday and Sunday, and Monday nights.
NewOrleans,LA
Price Per Total for 4
Hotel Company Class Room Nights
Days Inn Wyndham Economy $101 $404
Holiday Inn Express IHG Midscale $239 $956
DoubleTree by Hilton Hotel
New Orleans Hilton Upscale $307 $1,228
Ritz Carlton Marriott Luxury $489 $1,956
Average $284 $1,136
HiltonHeadIsland,SC
Holiday Inn IHG Midscale $304 $1,216
Marriott Marriott Upscale $351 $1,404
Omni Hilton Hilton Upper Upscale $439 $1,756

Average $315 $1,259
VirginiaBeach,VA
La Quinta La Quinta Midscale $189 $756
Sheraton Starwood Upscale $332 $1,328
Hilton Virginia Beach Hilton Upper Upscale $419 $1,676

Average $285 $1,139
Charleston,SC
Holiday Inn IHG Midscale $222 $888
The Mills House Wyndham
Grand Hotel Wyndham Upscale $296 $1,184
compressionpricing]
13
Grand Bohemian Hotel
Charleston Marriott Upper Upscale $531 $2,124
Average $305 $1,221
Boston,MA
Hampton Inn Hilton Midscale $199 $796
Hyatt Regency Hyatt Upscale $289 $1,156
Four Seasons Four Seasons Luxury $417 $1,668
Average $269 $1,074
Nashville,TN
Hampton Inn Hilton Midscale $309 $1,236
Sheraton Grand Starwood Upscale $299 $1,196
Loews Vanderbilt Loews Luxury $389 $1,556
Average $280 $1,120
MiamiBeach,FL
Intercontinental
Holiday Inn Hotels Group Midscale $295 $1,180
Marriott Stanton Marriott Upscale $257 $1,028
Ritz-Carlton Marriott Luxury $391 $1,564
Average $266 $1,065
Atlanta, GA
Motel 6 G6 Hospitality Economy $85 $340
La Quinta La Quinta Midscale $120 $480
Hampton Inn Hilton Upscale $129 $516
Ritz Carlton Marriott Luxury $179 $716
Average $128 $513
NewYork,NY
The Lexington Marriott Economy $129 $516
Fairfield Inn Marriott Midscale $144 $576
Renaissance Marriott Upscale $237 $948
JW Marriott Marriott Luxury $257 $1,028
Average $192 $767
Philadelphia,PA
compressionpricing]
14
Sleep inn Choice Hotels Midscale $114 $456
Residence Inn Marriott Upscale $142 $568
Average $165 $660
Denver,CO
Hampton Inn Hilton Midscale $215 $860
Crowne Plaza Crowne Plaza Upscale $151 $604
Four Seasons Four Seasons Luxury $319 $1,276
Average $211 $844
LosAngeles,CA
Super 8 LA Alhambra Wyndham Economy $132 $528
Vagabond Inn Vagabond Inn Midscale $222 $890
Courtyard LA Live Marriott Upscale $379 $1,516
JW Marriott Marriott Luxury $379 $1,516
Average $278 $1,112
Chicago,IL
Super 8 Wyndham Economy $224 $896
Fairfield Marriott Midscale $227 $908
Renaissance Marriott Upscale $311 $1,244
Average $291 $1,163
CapeCod,MA
Super 8
Yarmouth/Hyannis/Cape Cod Wyndham Economy $179 $716
Fairfield Inn - Hyannis Marriott Midscale $319 $1,276
DoubleTree - Hyannis Hilton Upscale $309 $1,236
Courtyard Marriott- Hyannis Marriott Upper Upscale $325 $1,300

Average $283 $1,132
Washington,DC
compressionpricing]
15
Curio Hilton Upscale $159 $636
Park Hyatt Hyatt Luxury $249 $996

Average $156 $622
Milwaukee,WI
Milwaukee Marriott Marriott Upscale $338 $1,352
Intercontinental InterContinental Luxury $264 $1,057
Average $215 $861
FortLauderdale,FL
Motel 6 G6 Hospitality Economy $74 $296
Courtyard Marriott Marriott Upscale $161 $644
Ritz Carlton Marriott Luxury $371 $1,484

Average $189 $755
SanDiego,CA
La Quinta Old Town La Quinta Midscale $179 $716
Renaissance Marriott Upscale $161 $644
Grand Hyatt Manchester Hyatt Luxury $180 $720

Average $173 $691
Miami,FL
Comfort Suites Choice Hotels Miscale $137 $548
Hilton Hilton Upscale $149 $596
Four Seasons Four Seasons Luxury $173 $692
Average $151 $605
LongBeach,CA
Quality Inn Choice Hotels Midscale $125 $500
Hyatt Regency Hyatt Upscale $291 $1,164
Renaissance Marriott Upper Upscale $299 $1,196
compressionpricing]
16
Average $204 $815
SouthLakeTahoe,CA
Holiday Inn Express IHG Midscale $292 $1,168

Aston Hotels &
Aston Lakeland Village Resorts Upscale $346 $1,384
Marriott Timber Lodge Marriott Luxury $360 $1,440

Average $295 $1,180
SanFrancisco,CA
Courtyard Union Square Marriott Upscale $246 $984
Average $231 $922
Portland,OR
Holiday Inn Express IHG Midscale $171 $684
DoubleTree Hilton Upscale $224 $896
The Nines A Luxury Starwood Hotels

Collection Hotel Portland & Resorts Luxury $369 $1,476
Average $215 $860
compressionpricing]
17

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July4Weekend:Consumers

Compression is a beautiful thing for revenue managers. On

Airbnb has brought hotel pricing down in many places during

South Lake Tahoe, CA $203.37 $151.31 $52.06 5,020 $261,354.36

Hilton Head Island, SC $268.89 $114.32 $154.57 651 $100,628.14

South Lake Tahoe, CA $295 $150.08 $144.92 5,235 $759,075.00

Hilton Head Island, SC $315 $119.39 $195.61 1,611 $315,127.71

WEIGHTED AVERAGE $116.37 (-3%) TOTAL $27,234,803.42

South Lake Tahoe, CA 95% 87% 96%

Hilton Head Island, SC 97% 89% 97%

Omni Hilton Hilton Upper Upscale $439 $1,756

Hilton Virginia Beach Hilton Upper Upscale $419 $1,676

Courtyard Marriott- Hyannis Marriott Upper Upscale $325 $1,300

Days Inn Wyndham Economy $106 $424

Fairfield Inn Marriott Midscale $108 $432

Park Hyatt Hyatt Luxury $249 $996

Motel 6 G6 Hospitality Economy $74 $296

Fairfield Inn Marriott Midscale $149 $596

Courtyard Marriott Marriott Upscale $161 $644

Ritz Carlton Marriott Luxury $371 $1,484

Grand Hyatt Manchester Hyatt Luxury $180 $720

Renaissance Marriott Upper Upscale $299 $1,196

Days Inn Wyndham Economy $182 $728

Holiday Inn Express IHG Midscale $292 $1,168

Marriott Timber Lodge Marriott Luxury $360 $1,440

The Nines A Luxury Starwood Hotels

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