Editor's Note: This is a brief excerpt from a recent institutional research note from our Gaming, Lodging & Leisure team. If you would like to learn more about our institutional research please email sales@hedgeye.com.

Is Airbnb Top-25 Listings Growth Bottoming? - zar

Airbnb continues to fight a regulatory war across many Top 25 battlefields, with mixed results. 

Our proprietary listings dataset continues to indicate a growth slowdown for Airbnb across the lodging REIT dominated Top 25. But as indicated below, the rate of declines have lessened somewhat. 

Could Airbnb growth be bottoming out? It's probably a little too early to tell. 

At this time last year, listings growth and adoption (as measured by Google trends) were growing on the order of 25-35% YoY, vs. the current high single/low double digit rate. 

The reasons behind the slow down are difficult to ascertain, but the net effect of the slow down have brought longer term benefits for hoteliers in the urban markets – more compression around the peak periods, and less competition around for FIT travelers should bode well for hotel owners. 

Is Airbnb Top-25 Listings Growth Bottoming? - z44

Is Airbnb Top-25 Listings Growth Bottoming? - market brief