According to a new survey by Morgan Stanley analysts, travelers who use Airbnb are wealthier than non-Airbnb travelers and have an average annual income of more than $75,000, reports MarketWatch's Caitlin Huston. The 4,000-person survey revealed that 66% of respondents earned more than $75,000 a year.
Survey respondents also named price as their most important factor when selecting travel accommodations. Since price is so important and Airbnb seems to be attracting wealthier consumers, analysts say that demand for Airbnb should increase.
Still, the analysts say the threat of Airbnb to hotels is exaggerated, as less than half of Airbnb users said they’re using the service instead of booking a hotel room. Additionally, hotels have a stronghold on corporate travel, as only 7% of Airbnb travelers are staying a single night, compared with 25% at traditional hotels, according to the survey. Airbnb could become a greater threat if growing unemployment leads to more listings on the site, according to the analysts.