Airbnb’s popularity is proving that travelers prefer to stay in homes when they travel abroad, according to Agoda CEO, who says that Greater China is the fastest-growing market for this.
More tourists to Asia are opting to stay in privately owned apartments even when five-star hotel rooms are available for as little as $100 a night, according to online travel booking platform Agoda Services Co.
Agoda, part of Booking Holdings Inc., is seeking more non-hotel accommodation choices for travelers as many want to live like locals during their trips, Chief Executive Officer John Brown said in an interview in Bangkok.
“A place like Bangkok where five-star hotels here often cost $100-$150 per night — even here, people say I want the experience of living in an apartment,” he said. “Making sure we have a homes product or an apartment product is super important.”
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