The concept of Airbnb’s “live like a local” breeds uncertainty amongst travelers. Numerous stories about booking an apartment based on breathtaking photos only to find out cockroaches are hiding in every corner became a familiar story online. Hotels, on the other hand, offer the same unpredictability, which brings us to an arguably better alternative: the hybrid apartment-hotels. It provides lodging that feels like home while getting the services and amenities of a hotel.
‘Domio’ is a New York-based upstart venture that raised $12 million worth of investments for long-term leases with mixed-use apartment properties. The company then redesigns them to become aesthetically furnished accommodations complete with five-star hotel perks.
Competition is tight, as TurnKey and Sonder, all apartment-hotelier counterparts, raised $31 million and $85 million, respectively. Their objective is to provide travelers with low accommodation rates that are 25 percent lower compared to hotels. In a recent study made by Daniel Guttentag, a hospitality professor, Airbnb guests look for practicality more than interaction and uniqueness. He concluded that guests prefer reliability over everything, which gave birth to Airbnb Plus. It includes all the best entries in the app that meet more than 100 criteria.