Affordability seen driving AirBnb, others

DEMAND for cheaper lodging in relation to the growing Philippine tourism industry is creating growth potential for the shared accommodations industry, according to real estate analysts.

In a phone interview on Friday, Leechiu Property Consultants ( LPC) Chief Executive Officer David Leechiu said cheap accom the Philippines.

“People are still looking for cheap accommodations. So we foreign travelers,” Leechiu said.

- commodations platform in 191 countries with more than 2 million rooms or apartments for rent.

Leechiu pointed out the domestic tourist sector provides a larger market for the shared accommodation industry.

Data from the Department of Tourism show that domestic travelers account for 92 percent or 40.4 million of the 44 million foreign and domestic tourists in

In contrast, foreigners account of the tourist market.

“There are many provinces that have no hotels or only have one - plying that market,” Leechiu said.

He noted that investors are on the home sharing platform. “We have a lot of investors that in Manila or Boracay or Tagaytay just to cater to this market. So they safe accommodation to travelers.”

Meanwhile, Jones Lang Lasalle Philippines head of Research Claro Cordero Jr. noted the shared ac - ing popular among travelers due to the ease of transaction and evolving technological innovations.

The shared accommodation - count for 5 percent of total room inventory and around 2 percent of occupied room nights in Southeast Asian cities such as Singapore, Bangkok and Kuala Lumpur.

- ings to grow to 15 percent of total inventory and 5 percent of occupied

the Philippines. “Our estimate is average as that of the key Southeast Asian cities,” Cordero said.

Connectivity is one of the factors that may affect the growth of shared accommodations in the country.

“In the Philippines, the chal inventory and connectivity issues issues that hamper the growth if e-commerce in the country),” Cordero noted.

Leechiu noted that despite the growth potential of the industry, he does not see it as something that would take over the hotel industry.

“I don’t think so, for one, now 18,000 hotel rooms. I don’t - ing anywhere close to that level,” Leechiu said.