CBRE Hotels recently released data compiled from a study conducted October 2014–September 2015, which revealed Airbnb users in the United States spent $2.4 billion on lodging costs during the time period. A large portion of this revenue, 55 percent, was seen in five cities alone — New York, Los Angeles, San Francisco, Miami and Boston. Using this data, the study determined the hospitality industry in New York was most at risk for being affected by heavy Airbnb usage, while San Francisco and Miami followed at second and third. The remaining two cities whose hotels and other traditional accommodation options were most at risk were Oakland and Oahu, after taking into consideration current traditional hotels in the regions, Airbnb growth rates and competition factors.

“For existing hotels, the growth of average daily rates will most likely be curtailed,” said R. Mark Woodworth, senior managing director, CBRE Hotels. “The fluid nature of Airbnb’s supply suggests traditional hotel’s historic price premiums realized during peak demand periods will be mitigated. The other impact may be on new hotel construction.”

Also, despite what some travelers would believe, Airbnb units are not always the most cost-effective accommodations. When the report compared Airbnb unit costs to average guestroom costs, it found the average rate charged for an Airbnb unit was $148.42, while the average rate charged for a hotel guestroom was $119.11.