Airbnb Business is Growing Quickly Among Corporate Travelers According to New Concur Data
November 3, 2016 2:53pm
44 Percent User Growth YOY in Q2; Increased Adoption by Small and Midsized Companies, Education and Technology Sectors
BELLEVUE, Wash., Nov. 3, 2016 -- Concur, an SAP (NYSE: SAP) company and the world's leading provider of integrated travel and expense management solutions, today released an in-depth analysis based on a subset of Concur customer data representing $77 million in Airbnb spend and more than 320,000 Airbnb expenses over eight quarters1.
The findings showed which industries and segments are driving Airbnb usage in business travel. Airbnb usage also showed strong growth over time, including the number of business travelers expensing Airbnb accommodations, which grew 44 percent year-over-year in Q2 20162.
"Concur travel and expense data shows us that while Airbnb usage is growing across all segments and industries, momentum is strongest among small and midsized businesses and in the tech and higher-ed segments," said Tim MacDonald , executive vice president of Global Products at Concur.
"While hotel spend still accounts for the majority of business lodging spend, there's an increase in business travelers exploring alternative lodging, especially during major conferences and events."
Concur found the number of organizations using Airbnb increased by 32 percent and overall spend increased by 42 percent year-over-year, from Q2 2015 to Q2 2016. The average Airbnb expense was $242 , but average cost varied among major U.S. cities.
A deeper analysis revealed:
Concur gathered Airbnb expense data from common companies in an eight-quarter window from Q3 2014 through Q2 2016. The resulting subset of Concur customers using Airbnb represents $77 million in spend and more than 320,000 Airbnb expenses. An analogous data set for several major hotel chains was also gathered and analyzed.
2Q2 2015 vs. Q2 2016. Q2 is April, May, and June.
For more information on this analysis, please visit Concur.com.
Concur, an SAP company, imagines the way the world should work, offering cloud-based services that make it simple to manage travel and expenses. By connecting data, applications and people, Concur delivers an effortless experience and total transparency into spending wherever and whenever it happens. Concur services adapt to individual employee preferences and scale to meet the needs of companies from small to large, so they can focus on what matters most for their businesses. Learn more at www.concur.com or the Concur Newsroom.
Contact: Jessie DiMariano
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