Airbnb, which has a valuation of around $10 billion, has been on Hotel owners' radar for some time. But so far, the wildly successful short-term rental booking site has managed to avoid significant conflict with the industry.
In a message to members, the American Hotel & Lodging Association identified Airbnb by name, saying short-term online rental marketplaces are "technically illegal, but lax enforcement of existing laws has allowed these entities to grow exponentially in size." Read more...