Airbnb Takes on 'Passion Travel'

Airbnb has become the largest player in the lodging market and is growing by about twice the rate of traditional lodging chains as new travelers come onto the platform and existing users book more reservations, e-commerce analyst Ken Cassar told Cheddar Thursday. Cassar, the vice president of strategy and insights at Rakuten Intelligence, said Airbnb now boasts a 25 percent share of the lodging market and reported a growth rate of 40 percent.

Leigh Barnes, Regional Director for North America at Intrepid Travel, discusses the rise that the company is seeing in travelers seeking to take trips alone. Intrepid Travel recently launched six different "For Solo Travelers" tours that tap into a finding that, even though many people are interested in seeing the world by themselves, the majority ot those people still worry about safety and feel more comfortable traveling in a group. We talk with Leigh about the "experience economy" for millennials and how places like Europe, Mexico, and South America are seeing an uptick in travel interest.

According to Rakuten Intelligence, Airbnb made up more than a quarter of the revenue generated by 13 lodging brands. Ken Cassar, VP of Strategy and Insights at Rakuten Intelligence, joined Cheddar to break down how Airbnb competes in the lodging business.