According to a new report by Resonance Consultancy (a marketing company specialising in the travel industry) on the future of US millennial travel, American travellers between 20 and 36 years of age prefer full-service hotels to an Airbnb rental, even as the home-sharing service expands in 65 000 cities and in preparation for an imminent initial public offering (IPO).

The 2018 Future of Millennial Travel Report surveyed more than 1 500 active US millennial travellers and found that, despite 52% of respondents saying they regularly or occasionally used owner-direct rental services like Airbnb, it was actually among their least preferred accommodation choices. Only 23% said that a short-term apartment and/or condo rental was their preferred type of accommodation.

“Findings in the 2018 Future of Millennial Travel Report are contrary to the prevailing belief that hotels are in trouble with younger travellers who prefer home sharing,” says Chris Fair, President of Resonance Consultancy.

Millennial traveller respondents cited full-service hotels as their first choice, staying with friends/family as second, followed by all-inclusive resorts. Roughly a third of millennial travellers prefer upscale/luxury hotels/resorts (35%), followed by camping (33%).

According to Fair, US millennials will spend $200 billion in 2018 alone: “A lot of that will be on travel and tourism.”