> There are some that ask like $3000 per night. Luxury apartment rentals have all the right reasons to be worried here.
That seems to me to be more of a competitor to luxury hotel rentals. Luxury apartment buildings don't rent per night (and many don't rent on terms shorter than say six months or even a year). Indeed, one of the things renters of luxury apartments look for is a lack of short-term or hotel rentals.
To the extent apartment buildings are in competition with AirBnB, it's from people leasing out their condos for 6-12+ months. Can you even do that on AirBnB?
That seems to me to be more of a competitor to luxury hotel rentals. Luxury apartment buildings don't rent per night (and many don't rent on terms shorter than say six months or even a year). Indeed, one of the things renters of luxury apartments look for is a lack of short-term or hotel rentals.
To the extent apartment buildings are in competition with AirBnB, it's from people leasing out their condos for 6-12+ months. Can you even do that on AirBnB?