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In the News
New York City Hotels Take Revenue Hit, As OTAs And Airbnb Grow
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At today’s Revenue Strategy Summit in Washington, DC, data was shared on how hotels in North America are being affected by the cost of third-party distribution and the rise of Airbnb and the non-traditional accommodation sector. While national data was covered, the data from a particular famous market — New York City — was intriguing.
Kalibri Labs, a data analytics firm, looked at New York City hotels from 2011-2015, to see what the change was in channel mix, plus overall performance on a net basis. One of the most notable changes was that online travel agency (OTA) volume spiked almost 70% between 2011 and 2015.
