Morgan Stanley: Airbnb’s Threat to Hotels Is Only Getting Sharper
Thanks to (you guessed it!) millennials.
Airbnb's app.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Not even President-elect Donald Trump can make the hotel industry great again.
The industry is already experiencing trouble with lower occupancy rates and smaller profits per room, and a new survey from Morgan Stanley points to more problems in the future. The bank's survey found that peer-to-peer travel startup Airbnb Inc. is presenting an even greater threat to hotels than expected.