Ordinarily, a major event like the Olympics in Rio de Janeiro would inflate hotel rates exponentially, but with Airbnb, travelers have many other options and need not surrender to peak prices. Of course, Airbnb hosts are also apt to raise prices during major events, potentially removing their price-lowering benefit to the time period. “The impact [of Airbnb] hasn’t been felt on day-to-day operations yet,” says Hafner, explaining that Kayak competes somewhat with Airbnb by dealing in non-traditional hotel rooms and apartments. By and large, hotels specialize in attentive service and reliability, appealing to an older demographic, while Airbnb specializes in a shared local experience, skewing younger. “Millennials certainly don’t have the same desire to own assets in the way that my generation does,” Hafner says of the sharing economy’s rising popularity. Get the full story at Skift