I agree with you about cabs in the US compared to ride hailing apps. But AirBnB is very different, and worse. The hotel industry is nothing like the cab industry. And residential real estate is nothing like roads.
Hotels face lots of regulation not only on how they operate (fire safety, egress, food safety, etc) but also where they can operate. AirBnB lets investors get around all these regulations and tap into tourism demand at a much lower cost.
Hotels face lots of regulation not only on how they operate (fire safety, egress, food safety, etc) but also where they can operate. AirBnB lets investors get around all these regulations and tap into tourism demand at a much lower cost.