SOURCE: 7Park Data

7Park Data

June 06, 2016 12:01 ET

New 7Park Data Report Showcases Airbnb's Global Growth and Impact on Broader Travel Industry

Airbnb Is Growing Inventory Faster Than Hotel Industry; Rapidly Adding Mobile Users

NEW YORK, NY--(Marketwired - June 06, 2016) - 7Park Data, a leading provider of data-driven marketplace intelligence, today released a new Insight Series Report titled, "The Growth of Airbnb and Its Impact on the Travel Industry" in which the company studied the impact Airbnb has on the market by analyzing behavioral data from millions of global consumers, including bookings trends and mobile app engagement.

"Our Insight Series Reports leverage our diverse portfolio of real-time consumer behavioral data to provide a more holistic view of industries and marketplaces, empowering investors and business leaders to make more strategic business decisions," said Brian Lichtenberger, Cofounder of 7Park Data. "This new report offers a comprehensive look at Airbnb and how it is disrupting the hotel and travel accommodation industry, which travel industry observers will likely find illuminating."

"One of the greatest market uncertainties is how much Airbnb's growth affects total travel spending, and how much of this effect comes at the expense of online travel agents (OTAs). The future impact of this unknown dynamic is significant and this Insight Series Report explores this question in depth," said Byrne Hobart, lead internet analyst, 7Park Data. "At this time, Airbnb is the most valuable accommodations company in the world and at $25.5B, it is worth 25% more than Hilton. While it's not strictly an OTA, Airbnb is the second most valuable online travel company, after Priceline. The key question surrounding Airbnb is the strength of the substitution effect between their product and traditional hotels and vacation rentals."

The comprehensive 7Park Data report is part of the company's Insight Series of reports on global marketplace trends. This report -- available at bit.ly/AirbnbReport -- determines that:

  • Airbnb is growing fast. Very fast. Hotels currently represent a vast majority of available rooms in North America, but the majority of inventory growth owes to newer models for travel accommodation, including Airbnb, whose global inventory has dramatically increased at a compound annual growth rate of 153 percent since 2009.
  • Airbnb continues to grow its mobile user base and keep users coming back. The app's monthly active users have doubled from Q1 2014 to Q1 2016.
  • Online travel agency spending -- such as Expedia and Booking.com -- is not yet affected by Airbnb. Data shows that Airbnb spend is generally accretive to travel spending as a whole. That is, Airbnb customers are generally taking trips they otherwise wouldn't take, which increases total travel spend rather than taking share from online travel agencies.

"This data report shows that Airbnb has successfully transitioned from a marginal niche product to a meaningful player in the travel ecosystem. Its revenue and inventory growth has continued, in new and maturing markets," Hobart added.

About 7Park Data

7Park Data provides data intelligence to businesses around the world, powered by the largest and most accurate portfolio of behavioral data. The company combines anonymous mobile, web and purchasing data -- collected in real-time from millions of users from 75 countries -- with in-house expert analysis to offer businesses unprecedented clarity into marketplace trends, evolving customer preferences, and investment opportunities. 7Park Data's industry-leading data intelligence products -- App Intelligence, Merchant Intelligence, Product Intelligence, Traffic Intelligence and Web Intelligence -- report on vital performance measures with unparalleled granularity and scale, including activity within mobile apps, mobile and desktop web traffic, online and in-store consumer spending, and more. Data-driven businesses depend on 7Park Data intelligence for more accurate benchmarking, forecasting, and strategic decision-making. 7Park Data was founded in 2012 and is headquartered in New York City. For more information, please visit www.7parkdata.com.

Contact Information