While Airbnb's Manhattan units accounted for about 9% of the borough's approximately 92,000 lodging units (comprising hotel rooms and Airbnb units), Airbnb accounted for just 3.5% of its lodging revenue for the fiscal year ended Nov. 30. The reasons for that are that Airbnb units' occupancy rate is substantially lower than Manhattan's 87% hotel-room occupancy rate, and Airbnb's room rate is about $100 less than the average hotel-room rate in the borough. Additionally, STR pointed out, 61% of Airbnb units compete against midscale and economy hotels; those categories account for just 13% of Manhattan's hotel-room units. And while most Airbnb units are rented out for at least a week, just 4% of Manhattan's hotel rooms are in extended-stay properties. Many analysts, hotel operators and lodging-industry lobbyists have decried Airbnb as a largely illegal operation because, they allege, many Airbnb hosts violate New York's laws against short-term rentals. Get the full story at Travel Weekly Read also "Airbnb rentals now 9% of room inventory in major cities" and "New study sees Airbnb success have an impact on hotel ADR"