Airbnb poised for boom among business travelers

May 14, 2014, 3:54 PM UTC

FORTUNE — The online housing rental service Airbnb appears poised for a future boom, especially for travelers on business. At least, that’s what Concur’s (CNQR) Tim MacDonald, an executive vice president, believes.

Concur, which has more than 22 million customers around the world, touts itself as an “easy-to-use business travel and expense management” software. “We’re seeing Airbnb going from zero two years ago to $1 million this quarter” in corporate expense reports, MacDonald told CNBC.

MORE: Court rules in favor of Airbnb, ‘quashes’ New York subpoena

Although Airbnb lays claim on just 1% of the market share so far, “it’s the rate of growth that is eye-popping,” he added.

MacDonald said that cities in dire need of more hotel rooms are prime places for Airbnb to continue to grow. “There obviously is a real need otherwise business travelers wouldn’t be going there,” he said.

“I would expect all the sharing economies to see a pickup,” said MacDonald. “We know anecdotally that the ride-share companies are seeing tremendous growth in the business sector. It’s a changing dynamic in the travel industry.”

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.