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hat started as an air mattress on three former schoolmates’ living room floor has since blossomed into a hospitality giant, valued in excess of $30 billion.

Over the last decade, Airbnb, which owns no actual rental real estate, has sought to disrupt the traditional hotel industry. By and large, it has been successful — last year, according to data from Second Measure, Airbnb generated more money in the United States than Hilton, the world’s second largest hotel group, andnarrowed Marriott’s lead over the market. As such, Airbnb now accounts for 20% of consumer lodging spending in the US market and continues to grow at a faster rate than the world’s three largest hotel chains.

Airbnb’s growth has had a significant impact on hotel revenues. Researchers from Florida State University, Boston University, and Texas A&M University recently found that for every 1% increase in the number of Airbnb properties available in a market, the industry saw average revenue per room (RevPAR) decrease by 0.02%. In New York, for instance, every 1% increase in available Airbnb properties saw hotel occupancy dip by up to 0.1%.

Airbnb’s success is largely down to the value for money that it offers, with 70% of guests saying they book homestays to save money according to Consumer Reports. Likewise, 58% said they were seeking unique accommodation, while 53% wanted accommodation that offered access to a kitchen.

Despite that, studies show that Airbnb is more of a threat to the industry’s growth than its existence. While some 60% of leisure travellers who stay at both hotels and Airbnb’s say they prefer home rentals over hotel rooms, 68% of business travellers say the opposite, according to Clever Real Estate.

The same Consumer Reports survey found that safety concerns put 55% of guests off booking homestays, while 40% didn’t want to interact with the homeowner.

In 2021, Hudson Valley in New York, US, will gain a new hotel offering in Hutton Brickyards. This collaboration between Brickyards owner Karl Slovin and Salt Hotels, the newly reimagined location plays homage to the original architecture of the grounds, as well as Hutton’s architectural vernacular, New York State’s industrial past and Slovin’s revival ethic.

Initially the hotel will feature 31 guest cabins and suites, with exteriors designed by Kristina Dousharm Architecture(KDA) and interiors developed in collaboration with Salt Hotels’ chief creative officer Kevin O’Shea.

The cabins have been designed to optimise privacy and water views. From this vantage point, guests have access to panoramic views of the famous Hudson River, as well as beach entry points and sightlines to a former Astor estate.

“The cabins cut a striking profile against the landscape—referencing the craftsman tradition through KDA’s modern, sculptural reinterpretation,” said O’Shea. “Their river-facing sides are all glass, spotlighting the spectacular river views. Our design direction is textural, understated luxury, borrowing inspiration from the Shaker aesthetic. Ultimately, guests will enjoy a strong connection to nature with the luxury touchpoints of an urban boutique hotel.”

The hotel is set to open in April 2021.

“The project will continue to evolve for the next decade, but I believe we can be very valuable in helping Kingston continue to develop as a centre for food, arts and culture. With the addition of a hotel offering there is no doubt Hutton Brickyards will be very impactful for the Kingston economy and perhaps the region,” say Slovin.