Competition from major travel platforms has slowed Airbnb’s growth, particularly in the United States and Europe. Established online travel agencies and hotel booking sites are drawing users away, resulting in fewer inquiries and reservations for Airbnb listings.
Research from Morgan Stanley highlights a marked slowdown in key markets including the United States, the United Kingdom, France and Germany. One clear indicator is that the average frequency of bookings on the home-sharing platform has dropped by about 10 percent, bringing the typical user’s booking rate to roughly three times per year.
Several factors help explain this decline. Privacy and safety concerns are a primary issue: around half of survey respondents cited safety worries—such as potential scams or unreliable hosts—as a reason to avoid booking through home-sharing platforms. That hesitation has pushed many travelers to rely on online travel agencies (OTAs) and traditional hotel bookings, which are perceived as more secure or easier to navigate.
Morgan Stanley’s research also shows that bookings made through OTAs are growing faster than bookings on Airbnb, with OTA growth projected to outpace Airbnb by roughly 1.3 times. In the study, 59 percent of respondents reported using online travel agencies to arrange travel. This shift benefits hotels in particular: hotel bookings in the U.S. and Europe rose by about 7 percent, compared with a 6 percent increase for Airbnb listings.
Despite this slowdown, Airbnb continues to expand and anticipates further growth. The company projected around 20 percent growth by 2020, but recent trends indicate that the pace of that growth has softened as travelers explore alternative booking options and remain cautious about privacy and safety when choosing home-sharing accommodations.