What Lodging REIT will Airbnb Impact the Greatest?

Scott Shatford | September 20, 2016

Airbnb is a disruptive force of nature. With room nights booked growing over a 100% each year, it is only a matter of time before hotel properties start to truly feel the impact. The question is no longer IF Airbnb will disrupt hotel profitability, but WHO is going to feel the brunt of Airbnb disruption the quickest.

In a recent report AirDNA co-authored with Bank of America / Merrill Lynch, all lodging REIT’s were ranked by their exposure to the threat of Airbnb based on the location of their hotel properties.


hotel airbnb risk


Pebblebrook has the highest risk exposure to Airbnb disruption according to this analysis. The majority of their properties are located in cities where Airbnb has seen the most listing growth and traveler demand. But the above analysis only tell part of the story. These markets are expansive and it may be misleading to say that a property on one side of town is being impacted by Airbnb growth on the other side of the city.

We’ve taken this analysis one step further to trend the growth of Airbnb supply/demand within 1km of each REIT owned hotel property. The below dashboard analyzes the properties owned by Pebblebrook (PEB) in New York City.



1,273,0000 room nights have been booked at 9,334 unique listings generating 38.3 million dollars of revenue for Airbnb hosts.  All of this lodging activity occurred within one kilometer of Pebblebrook owned hotels in the past two years.


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