SAN FRANSISCO, Calif. — Airbnb’s customer base is growing faster than industry insiders predicted, Tnooz reports.
Global financial services group, Morgan Stanley recently conducted a large survey and follow-up analysis, which revealed Airbnb is penetrating approximately 19 per cent of the accommodation sector, up from 12 per cent in 2015.
This seven-per-cent growth over the past 12 months has taken place in both the leisure and corporate travel sectors. Initially recognized as a service for vacationers, Airbnb shifted gears recently and began actively targeting business travellers in July, when it was reported that 31 per cent of the Silicon Valley-based company’s customers were using its app for business related purposes.
Although Airbnb’s growth rate in 2017 is predicted to slow slightly, market penetration is expected to reach up to 25 per cent.
According to Morgan Stanley, driving this growth is a combination of high traveller awareness (estimated at 75 per cent of consumers) and very high user satisfaction rates, with 93 per cent of Airbnb users giving positive reviews.