(Bloomberg) — Airbnb is less than eight years old, but it has already caused massive changes in the way people travel. While consumers may have initially been hesitant to try the service, a new survey from Goldman Sachs Group Inc. shows that once they switch, they don't go back to hotels.
According to a note sent out by Steven Kent and his team, a recent survey of 2,000 U.S. consumers had some pretty troublesome findings for the hotel industry.
"If people have stayed in peer-to-peer lodging [P2P] in the last five years, the likelihood that they prefer traditional hotels is halved (79% vs. 40%)," the data showed. "We find it interesting that people 'do a 180' in their preferences once they use P2P lodging. They move directly from preferring traditional hotels to preferring P2P accommodations."
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