How Short-Term Rentals Are Faring Better Online Than Hotels During Crisis: New Skift Research
Skift Take
Many short-term rentals offer extra space and control over your living environment. Both attributed highly valued during this time of pandemic. Nothing's decided yet, but some early evidence suggests that short-term rentals might be doing less worse than traditional hotels peers.
In our latest report, Skift Research explores the damage done to the online travel industry by the coronavirus at both the industry and individual company level.
We believe that the largest seven public online travel agencies will lose at least $11.5 billion in revenue this year due to the virus. The impact could even go higher, potentially as much as $20 billion in missed revenue. We also find some signs that businesses which cater to the short-term rentals and airline segments are outperforming the hotel business.
Finally this report analyzes public statements made by the largest three online travel agencies in the world, Booking Holdings, Expedia Group, and Trip.com. We break down and quantify what those management teams have said specifically about Covid-19.
Below is an excerpt from our Skift Research Report. Get the full report here to stay ah
