What would you do with an extra $100 per night in pocket, during your travels? Forbes recently enlisted top statistics companies to compare prices between traditional hotel stays and sharing economy options, like Airbnb, in top major cities all around the world. The results? Pretty juicy stuff, indeed.
Sharing Wins
Before you go there- this doesn’t mean you need to share a room or apartment. You can rent your very own. But according to the study, renting an Airbnb is cheaper than staying in hotels in major cities, across the board. Prices were compared over a long duration of time and in each case, Airbnb came out cheaper, with margins between a lighter $22 saved in Berlin, to an impactful $127 per night saved in Tokyo. And hey, if you sign up – you get $40 off your first booking.
City By City
The survey examined many of the most popular and costly worldwide cities for hotel stays so it’s possible results could vary in other, less expensive locations. Curious about the savings in each city surveyed? Airbnb saved: $119 in New York, $49 in Sydney, $127 in Tokyo, $38 in London, $79 in Toronto, $58 in Paris, $53 in Moscow and $22 in Berlin. We think this trend may not in fact be limited solely to major cities. We found incredible Airbnb options in top tourist destinations all over the world, under $150 a night.
Price Premium
We’re big fans of the Airbnb experience. From flexibility on neighborhood to kitchen access and generally larger spaces – it can be a game changer in daily savings, even outside of room costs. But it’s not for everyone. In cities where price differences are more marginal, it’s not hard to see why guests may still prefer the hotel experience. Free breakfast, no neighbors and consistent standards, not to mention social spaces- it makes sense. But as hotels crack down on late check out, free breakfast and other previously standard amenities, the conversation takes new shape. Blending the two… that’s interesting.
Worth factoring in flexibility and hidden costs. A recent AirBNB stay in Barcelona would have been cheaper than a hotel, if we hadn’t been slapped with a 30 euro fee when our flight was delayed and we arrived a few hours late. Another time, I had to cancel an AirBNB stay a few days ahead of time because of a death in the family, and only wound up getting 50% back. So factor this in when deciding between the two.