By Megan Harwood-Baynes, cost of living specialist
While struggling to pay their bills in 2007, two San Francisco residents began renting their spare room out to conference-goers when all the hotels in the city were full.
Less than two decades later, what started life as AirBedandBreakfast.com has done nothing short of revolutionise the travel industry.
More than five million hosts, in almost every country across the globe, have followed in the footsteps of Joe Gebbia and Brian Chesky and opened their homes to more than two billion guests through Airbnb.
But as the company grew, so have the accompanying problems: from viral Airbnb horror stories to protests from local communities who argue they have been priced out by landlords buying up properties to turn into holiday lets.
Then there’s competition. Booking.com tells Money it is now two-thirds of the size of Airbnb when it comes to alternative accommodation (so not just hotels) – of the 29 million…
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