Airbnb may put lid on hotel rates during U.S. political conventions

By Laila Kearney NEW YORK (Reuters) – This year's U.S. Republican and Democratic conventions may prove what hotels have long feared: They could lose a consistent windfall to Airbnb and other home-sharing services. Normally, hotels would be cashing in on the combined 100,000 people expected to flood Cleveland for the Republican presidential nominating convention next week and Philadelphia for the Democratic gathering July 25-28. Jeremy Adkison, a 28-year-old delegate to the Democratic convention, said he decided to try Airbnb because he thought a hotel would cost too much.

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