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Is the sharing economy the future? Not so fast!

Allianz study shows that Airbnb still has a large untapped market

(Credit: Getty Images)

Allianz published a study yesterday, showing that 53 percent of Americans are unlikely to rent out someone’s house for their vacation travel. Interestingly, 83 percent of Americans are familiar with such services.

The wave of the future: 76 percent of millennials said they consider using home-sharing services when traveling, according to the press release.

Glimmer of hope for the future of hotels: 59 percent of millennials still agree that hotels offer a better experience. Clear that the sharing economy is not the present.

How to beat Airbnb: The key is to simplify the choice for consumers. If a millennial is presented with either using Airbnb or a traditional hotel, he will choose the latter if the additional cost is commensurate with the value provided. The job of a hotelier is to make that decision a no brainer! Even Airbnb’s most loyal fans will concede that staying at stranger is not ideal. Adapt or die!

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