Airbnb is primarily additive. I don’t think it’s stealing much share from urban hotels. I think it’s serving people who didn’t travel because they were scared, or couldn’t afford it, or use it because it’s an antidote to loneliness. A room in someone’s house is not as valuable as a room at the Helmsley.
IAC’s Barry Diller, whose portfolio includes both Expedia and Match.com, talking to Bloomberg Businessweek