[naterator]

> [1]"Airbnb doesn’t even own a bed, but its backers think it’s more valuable than Hyatt"

Sure, certainly an important thing to consider if you take the pessimistic view. On the very optimistic side, consider the possibility that AirBnB makes hotels almost entirely obsolete (it is definitely putting pressure on them). Hotels are expensive and cookie-cutter. While in some ways predictable is their advantage, expensive is not, and cookie-cutter is boring. AirBnB offers location (location location), comfort (home away from home), privacy (if you want it), and novelty (every trip is different). Major pluses in my book.

> Once they are forced to play on a level playing field,

What happens if they aren't, ever? What happens if cities all over the place actually accommodate them? Unlikely, sure--but it's easy to be a naysayer on the internet. It's more likely what will happen to them is what is happening to Uber et al. Some places accommodate sycophantically (SF), some places go the opposite direction (Seattle). And anywhere that accomodates, AirBnB stands to take a huge chunk out of the existing hotel biz.

There are smart people working on these valuations, on both sides. AirBnB has real, valuable network effects that need to be considered. I don't imagine to be able to gauge this one accurately purely based on "c'mon, thats so much money!!". I'm honestly more a pessimist on AirBnB. But I've been a resolute pessimist before and gotten burned badly (e.g. stock market 2013, anyone?)

[timdellinger]

> On the very optimistic side, consider the possibility that AirBnB makes hotels almost entirely obsolete (it is definitely putting pressure on them). Hotels are expensive and cookie-cutter. While in some ways predictable is their advantage, expensive is not, and cookie-cutter is boring. AirBnB offers location (location location), comfort (home away from home), privacy (if you want it), and novelty (every trip is different). Major pluses in my book.

I don't think you've done the market segmentation here... you're assuming that the majority of the market is similar to you.

Business travelers want reliability and predictability, and the companies that they work for want to negotiate rates in exchange for being preferred vendors.

Travel agencies need the reliability and predictability.

Anyone organizing for a larger group (weddings, sports teams, church trips, conferences, etc.) can't deal with a smattering of different housing providers.

A lot of people just don't want the obligations that come with the AirBnB experience... if you've got a family with three young kids that tear the crap out of things and make messes, a hotel room is a better bet.

[bertil]

> Anyone organizing for a larger group (weddings, sports teams, church trips, conferences, etc.) can't deal with a smattering of different housing providers.

It's funny because AirBnB was set-up (and I still see them mainly) as a convenient solution for such gatherings, when hotels are all booked. They are the reliable reference in that case.

Granted, conferences and weddings in the US have always stricken me as operated by control-freaks who can’t accept that people able to run team of 15 scientists, or parents with three children can find a way to book a room by themselves.

[notlisted]

> "Hotels are expensive and cookie-cutter."

Some are, eg big franchises like La Quinta, but many are not.

The pressure they put on them is because they skirt the laws and play by different rules, yet those who use AirBnB look just at the rates. What's more, the low rates are the direct result of them skirting the rules and expose those who rent their rooms to fines, taxes or worse.

There's also a complete lack of enforcement/adherence to regulations that ensure safety, cleanliness, etc.

They don't even protect the rights of the home owner (eg there are special rules in NYC for stays exceeding 21 days, exceed that, and the "short-term" vacationer becomes a tenant with associated rights, ie try to get them out even if they do not pay "the rent").

By the way, the hotel industry is lobbying big-time to address these and other issues. I doubt they'll roll over anytime soon.