Airbnb’s growth momentum has reached its peak，At least in the major markets of the US and Europe，The latest report released by Morgan Stanley Research Institute states。

This is for last year’s AlphaWise in the United States、UK、France、Findings from a survey report tracking 4,000 annual survey subjects including Germany，The growth of short-term rental giants in these markets continues to slow down，Increasing competition pressure from online travel companies Booking and Expedia。

This year’s survey results show that188bet Online Sports Betting and Casino

Not only the usage ratio dropped，Airbnb user frequency also dropped by 10%，Currently the user uses it three times a year，Airbnb’s growth in this area has been stagnant in the past three years。

Morgan Stanley researchers believe，There are three main reasons for the decline in Airbnb’s growth rate。One is，Airbnb’s brand awareness in the regions surveyed is approximately 86%，Has reached the peak。

Second，Privacy and legality concerns remain barriers for some travelers to use Airbnb。Over 50% of respondents not using Airbnb would be safe、Privacy or legality cited as one of the main reasons。

Another reason for Airbnb’s slowdown is the increasing competitive pressure from online travel agents (OTAs)。

According to predictions from Morgan 188bet sports betting app download Stanley Research，In the next two years，Airbnb’s hotel business in the United States and Europe grew by 7% and 6% respectively，The growth rate of OTA’s global non-standard accommodation business is 1% that of Airbnb.3 times。Also，OTA is still the most commonly used booking channel for travelers: 59% of respondents choose to use this channel to book travel products。

Airbnb spokesperson said，“Airbnb has listings in 8 of 191 countries.1 million cities。Our goal is，Accept 1 billion guests per year by 2028。We view tenants and landlords as members of the community，Instead of just treating them as commodities，In this way, the company's business can achieve sustained and strong growth as a whole。This investigative report is incorrect in concluding that Airbnb’s business in the United States and Europe has declined significantly。In fact，Report’s 2020 forecasts for Airbnb in the U.S. and Europe are unreliable，The forecast data is also inaccurate，Because Airbnb’s current growth has exceeded the data predicted in the report。”

Looking to the future, Morgan Stanley researchers predict,Airbnb in the United States 2019、UK、France and Germany will produce 1.500 million room nights，An increase of approximately 6% compared to 2018。In last year’s report，Researchers have predicted that Airbnb will emerge in the United States and Europe in 20181.5.5 billion room nights，14% increase compared to 2017。These researchers later lowered their 2018 forecast to about 1.400 million room nights。

A global view，Researcher’s estimate，By 2020，Markets outside the United States and Europe will account for nearly 50% of Airbnb’s global room nights，And Airbnb’s total room nights will grow by 20% during 2017-2020。

Airbnb’s threat to hotel industry reduced

The Morgan Stanley report seems to imply，Airbnb’s threat to hotels is becoming less and less important，At least in the US、UK、Hotel revenue per room (RevPAR) in France and Germany is so。Overall，Researcher’s prediction，Airbnb will lower RevPAR by 20 basis points during 2018-2020 (0.2%）。

The report author believes，Airbnb is a hindrance to the development of the overall hotel industry in the United States and Europe。However，Airbnb still has a considerable impact on hotel occupancy rates，47% of the respondents changed from staying in hotels to renting houses on the Airbnb platform in 2018。Same，Researcher’s estimate，Airbnb will lower annual hotel occupancy rates by 10 basis points during 2018-2020。

This year’s survey results show thatAirbnb users stay longer，Avg. 4 per stay.5 days，Last year they had an average stay of 4.3 days。

The occupancy rate of high-priced rooms in the market during the peak season is more than 95%，But Airbnb’s influence on hotels’ obtaining high room nights and high room rates is getting weaker and weaker。Although the number of high-priced room nights decreased in 25 U.S. cities in 2016 and 2017，But this number increased by 7% year-on-year in 2018。

The boundaries between hotels and 188bet sports betting app download non-standard accommodation are gradually blurring

Although the author of the report cannot comment on whether Airbnb is a growing threat to large OTAs，But they did find that these online channel providers are not only particularly resilient，It has also begun to increase its expansion into Airbnb’s core business areas of 188bet sports betting app download non-standard accommodation。

They said，Although consumers generally use OTA to book hotels，Use Airbnb to book 188bet sports betting app download non-standard accommodation products，"In the long run，We expect the line between the two to become increasingly blurred，Because consumers are likely to choose websites that provide the largest inventory of hotels and non-standard accommodation。”

In other words，If Airbnb wants to compete with Expedia、Booking and other OTA giants are launching head-on competition，Then Airbnb must increase the number of hotel listings on the platform，Instead of just providing existing short-term rentals、Experience activities and other products。Early this year，Airbnb officially begins to increase hotel inventory on the platform，But the number of hotel rooms on the website is currently far less than that of Booking and Expedia。As of February this year，Only 2 on Airbnb platform.40,000 hotel rooms。

Since Booking and Expedia only display 188bet sports betting app download non-standard accommodation together with traditional hotels on their respective websites，This provides more convenience to consumers。

Booking Holdings’ most recent filing with the SEC，The number of company private accommodations currently accounts for 80% of the total inventory，Growing at a rate of 50% every year，And the hotel、Motel、The growth rate of other accommodation types such as resorts is about 10-15%。Written in the information，"As of September 30th，Booking.There are approximately 206 on the com website.50,000 properties，Includes 430,000 hotels、Motel、Resort and approximately 163.50,000 houses、Apartments and other special properties。”

Also，Booking and Expedia spend twice as much on marketing as the world’s five largest hotel groups combined，If you want to compete with these two major OTAs，Airbnb also needs to increase its marketing and advertising budget。

Researchers also pointed out，Internationally，Booking.com 1 in the world.300 million App downloads，And Airbnb only has 82 million downloads，The former has significantly higher traffic than the latter。But，In the United States，Airbnb ranks first with 27 million app downloads，Expedia is second with 21 million，TripAdvisor and Booking ranked third and fourth with 17 million downloads。

Is Airbnb experience product a latecomer?

A survey report released by Morgan Stanley Research Institute，56% of Airbnb users in Europe and the United States said they had booked Airbnb Experiences in the past year，67% of Americans have used this product in the past year。

The brand awareness of the company’s new product Airbnb Plus among Airbnb US users and all surveyed users is 55% and 40% respectively。Nearly 80% of American respondents said，They also plan to book Airbnb Plus selected properties next year。However，Airbnb European users are not so willing to use this new product，69% UK users、70% of French users and 58% of German users are willing to do so。

When Airbnb launched Airbnb Plus in February this year，The company hopes to have 7 in 50 destinations around the world by the end of 2018.50,000 such handpicked properties。It’s unclear whether Airbnb is close to achieving this goal。

*This article is authored byCompiled by Hui analyst Li Haiqiang from skift，Original title: "Airbnb’s Growth Is Slowing Amid Increasing Competition From Booking and Expedia: Report》.