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More millennials opt for hotel stays rather than short-term residential rentals, survey says

Posted at 12:30 PM, Jun 10, 2019
and last updated 2019-06-10 15:30:42-04

PHOENIX — In the latest battle for vacationers' affections, hotels and resorts may be winning over short-term residential rentals, at least according to a survey of millennials in the Southwest.

The survey, from Phoenix-based advertising agency Lavidge and WestGroup Research, shows millennials prefer staying at a traditional hotel or resort to using home-sharing services such as Airbnb or VRBO.

Of the 450 respondents, 37% said Airbnb is “a cheaper, preferred option,” though only 27% admitted to using the service during the past. An August 2018 study from LendEDU revealed 35% of millennials believe hotels to be worth the added cost.

David Drennon, executive vice president of the Arizona Tourism & Lodging Association, said he believes the hospitality industry isn’t threatened by the rise of home sharing.

“People take for granted all the requirements and regulations that exist in this industry that allows guests to be well-cared for,” Drennon said. “With a home, it’s only as good as that homeowner is going to take care of it.”

For the full story from the Phoenix Business Journal, CLICK HERE.