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Airbnb Cutting Into Las Vegas Hotel Room Profits

02/16/2017 at 3:30 | Posted by John Shaffer
LAS VEGAS, NV - SEPTEMBER 27:  A general view of the Las Vegas Strip is shown on September 27, 2015 in Las Vegas, Nevada.  (Photo by Ethan Miller/Getty Images)
Photo Credit: Ethan Miller/Getty Images

More than 340,000 people passed on Nevada’s hotel rooms last year and opted instead to book a place to stay using the home-sharing service Airbnb. The $47 million in revenue that hosts took in is a loss for the state’s hospitality industry that one expert says will only increase if not addressed. Las Vegas, by far, had the most Airbnb business in the state. The company says more than a quarter of a million people stayed at homes in Sin City. The people that hosted them made $35.5 million. Mehmet Erdem is an associate professor of hotel operations and technology at the University of Nevada Las Vegas. He says hoteliers shouldn’t dismiss Airbnb because the competition could eventually erode room rates.  Airbnb estimates a typical Nevada host earns $6,600 annually.