Source page: McKinsey & Company
Commentary
Home sharing is where the heart is
Travel | Consumer
June 20, 2024 – Summer has arrived in the Northern hemisphere. All this week, our daily charts will focus on travel and tourism. We’ll explore shifting travel preferences, new business models, luxury travel, disruptions affecting the industry, and more.
The use of home-sharing options such as Airbnb has ticked up in recent years. The segment rose from 10 to 14 percent of accommodation booking by value between 2013 and 2017 and is projected to hit $232 billion by 2027. Senior partner Matteo Pacca and colleagues say that home sharing is here to stay and that providers have begun to lean in on what makes them different from other hospitality offerings while also providing a distribution channel for smaller hotels.
To read the article, see “Six trends shaping new business models in tourism and hospitality,” May 29, 2024.
customizer here
Visual form
Stacked bar chart.
Layout / body structure
The chart is split into two side-by-side stacked-bar charts. The left chart shows dollar booking value by type of stay over time, and the right chart shows percentage share over the same years, so the reading order is left chart first and right chart second.
What is being compared
It compares hotels, home sharing, and other accommodation types across time, both in total booking value and in share of the accommodations market.
Measurement system
The left panel is measured in billions of dollars and the right panel is measured in percentage share. Years run from 2017 through 2027, and color distinguishes hotels, home sharing, and other lodging.
Visible structure inside the graphic
Each year is one stacked bar. The dark base represents hotels, the bright middle segment represents home sharing, and the small pale segment represents other lodging, with total values and segment labels printed directly on the stacks.
Main takeaway from the visual
The visual shows that home sharing gains a larger slice of the market over time even though hotels remain the dominant category in both value and share.
Key standout values or extremes
Home sharing rises from about 10 percent of booking value in 2017 to about 14 percent in 2027, while the hotels segment still holds roughly three quarters of the market. Total accommodation value rises to about $1.66 trillion by 2027.
Controls / sequence, when applicable
This is a static chart image with no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the chart image is the full visual on this page.