Home sharing sites and platforms like Airbnb and VRBO are gaining popularity at a monumental clip. And a report by Airbnb Citizen indicates that this trend is likely to continue through the year and beyond. So just how much has the idea of home sharing changed the travel industry? And how much more growth is expected in the next few years? We asked 1,000 respondents about their travel habits and their thoughts on home sharing.
In Ask Your Target Market’s latest online survey, 28% of respondents said they’ve traveled within the past month. And 32% have traveled in the past three months. Of those who travel at least on occasion, 73% said they usually stay in hotels. And just 12% said they regularly use home sharing services to find places to stay when they travel.
More specifically, 19% of travelers said that they’ve used home sharing or vacation rental services many times. And 23% have used them once or twice. 87% of those who have used home sharing services said they’ve been generally satisfied with the experience.
Looking forward, 60% of travelers said they would be at least somewhat likely to use a home sharing or vacation rental service within the next five years. Airbnb was the most popular option, with 79% of those respondents planning to use it. 32% plan on using HomeAway. 22% prefer VRBO. And 14% said they’re undecided about which service they would use.
More than half of traveling consumers are open to using home sharing sites in the near future. So that’s good news for the companies offering those services. But any new players should be aware of the huge market share that Airbnb already has. With just 14% of those interested in home sharing saying that they’d be undecided about which service they’d use. So any new players would have to compete for those consumers or attempt to position themselves against Airbnb to try to take up some of their market share. You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.