‘Every single house on our street’ is becoming an Airbnb, says host | Hacker News Reader

‘Every single house on our street’ is becoming an Airbnb, says host

finance.yahoo.com

13 pointsripvanwinkle4 comments

Just like with Uber and the taxi / public transport industry, this demonstrates above all else how bad the state of the hospitality industry must be in order for such absurd developments to be even remotely possible.

Hotel chains have deep pockets, political influence, and centuries of entrenchment on their side. They should be invincible. Instead, they're getting crushed by companies that appeared out of nowhere in a single decade, and they appear to be completely helpless against it other than calling for lawmakers to protect them through regulations.

Airbnb is not crushing hotels. The use cases of airbnbs are usually different than hotels. On top of that, Airbnb is on the verge of a reckoning with the issues plaguing the system. Sketchy hosts, destructive and abusive guests, over saturation of listings.

The only reason you’d probably think airbnb is crushing hotels is the financial reports of hotels from during the pandemic. But before the pandemic, with airbnb already in full swing, hotels were still hitting record revenues. Their financials are already returning.

The Marriott have had some of their best earnings from the last 6 quarters.

https://www.macrotrends.net/stocks/charts/MAR/marriott/reven...

> The Marriott have had some of their best earnings from the last 6 quarters.

This year was the first post-pandemic year where all restrictions were off and everyone not only returned to normal but also enthusiastically went on trips.

I recall that some European countries experienced long delays in airports due to the huge increase in demand for flights abroad. The Netherlands even saw Schipol announce they were forced to cut flights to be able to handle the load, in spite of being one of the largest airports in the world.

If a horeca business wasn't able to profit handsomely in 2022 then they better close doors.

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