It was just a year ago that a number of CEOs of the major hotel brands dismissed sharing economy plays like Airbnb as easily absorbed into the existing demand for overnight lodging. While we all hoped that would be true, I always sensed a little hubris mixed into those predictions.
New research from Morgan Stanley reveals that compression nights for traditional hotels were way off last year. Those in the industry know what that means. For the rest of us...trust me, it's not good for hotels.