New York City Hotels Take Revenue Hit, As OTAs And Airbnb Grow
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.