Citi published a report claiming that AIRBNB was going to eat MTR's profits..................then MTR said............
MTR have not seen any impact from Airbnb in terms of (1) its ability to grow RevPAR, and (2) room key churn. Management acknowledged the size of Airbnb and were not at all dismissive of its model. Rather, MTR are of the view there is only a limited customer overlap with traditional hotel/resort properties and Airbnb, and gave several detailed examples of this. In addition, a large portion of Airbnb inventory is not new, with MTR of the view that Airbnb has grown by taking market share.
Repeat the Mantra, page-2
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