airbnb
Will More Hotels Get Into the Home-Sharing Business?
Linchi Kwok | September 23, 2020
There is no doubt that COVID-19 has had an unprecedented impact on the travel and tourism industry. With massive layoffs and closures, many hospitality professionals have noted that they had never seen such a detrimental event to the industry in their careers. Nobody knows when the recovery will take place. Yet, there is at least one exception. The home-sharing sector has already rebounded. Airbnb booking is up and ready for an IPO When the pandemic hit, Airbnb reported a 90% drop in booking, or a $400 million adjusted loss in the second quarter. Then, Airbnb laid off 7,500 employees, or 25% of its workforce, and cut its marketi...
Understanding the Post-Covid Advantages of Sharing Economy Accommodations
Larry Mogelonsky | August 5, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Following reports in early July that travel searches on Airbnb (and also Booking) in many key markets are at a 12-month high, hoteliers would be right to be quite anxious as this represents a definitive marker for booking drivers and perceived value in the post-pandemic hospitality world. Why are guests returning faster to the sharing economy than traditional accommodation providers? In this great reshuffling of travel motivations following COVID-19, it would appear as though many hotel customers are switching to home sharing platforms for their next leisure stay. Below I present th...
The 7 Ps Marketing Mix of Home-Sharing Services: Insights From Over One Million Airbnb Reviews
Linchi Kwok | July 29, 2020
By Linchi Kwok The 7 Ps marketing mix framework is a widely used managerial tool that helps businesses identify the principal components of a service product. The 7 P elements include Product, Promotion, Price, Place, Participant, Physical Evidence, and Process. The 7 Ps framework can assist marketers in making decisions regarding segmentation, positioning, and differentiation. Even for the same type of products with different brands, marketers can still drive higher sales through the improvement of a product’s marketing mix. The empirical study about 7 Ps of home-sharing services Building upon the 7 Ps marketing mix framework, ...
Airbnb’s Adaptable Business Model and Cost-Cutting Measures Have Revived Hopes of a 2020 IPO, Says GlobalData
GlobalData | June 29, 2020
A few months ago, the chance of Airbnb’s planned IPO going ahead in 2020 was slim to none. As the COVID-19 pandemic swiftly ground domestic and international travel to an abrupt halt, travelers cancelled their bookings en masse and its host community looked to list their properties elsewhere. However, Airbnb’s recent performance means that a stock market launch is now once again a possibility says GlobalData, a leading data and analytics company. Ralph Hollister, Travel and Tourism analyst at GlobalData comments: “One of the first forms of tourism that has returned is close proximity domestic travel – or staycations. Airbnb’s nim...
Covid-19 and The Hotel Resort Buffet: The Last Supper*?
Fred DeMicco | June 18, 2020
By Frederick DeMicco The summer of 2020 will be a year without many vacation holidays. The fear of Covid-19 will dissuade many tourists from traveling. So, in the United States especially, will loss of income from jobs placed on hold in response to the pandemic. From the “Fhobia of Flying” to those tourists lured by the sands of the Mediterranean, the Fear to take Flight now dominates the travel market. It does not help that some countries’ borders remain closed, and many also have Pre- and Post-Covid quarantines. Few events short of nuclear war could be as devastating to the global economy. Tourism is its heartbeat and a major co...
Will Home-Sharing and Luxury Hotels Recover Sooner Than Other Lodging Products?
Linchi Kwok | June 5, 2020
By Linchi Kwok As more places are easing coronavirus restrictions, travel companies are getting ready to reopen their business. Yet, do people want to travel again soon? If so, who are the travelers? STR (Smith Travel Research), a leading data analytics provider for the lodging industry, conducted an opinion survey about travelers’ attitudes towards different types of accommodation facilities based on their preference from the past experience. One assumption for such an analysis is that travelers tend to stick to the same kind of accommodation facility for their trips. STR surveyed 2,391 respondents who showed interest in travel fo...
Coronavirus May Kill the Airbnb Super Host
Larry Mogelonsky | April 29, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) All of travel is taking a beating from the pandemic. None are excluded and the situation will continue to play out over the next two years as some organizations adapt while, unfortunately, others die out. Looking at the sharing economy, though, there are some interesting side effects from this crisis that might be advantageous for traditional hoteliers. Initially (late February), right as social distancing, lockdowns, flight restrictions and quarantines were being issued throughout Europe and North America, I had thought that COVID-19 would favor these alternate lodging providers. T...
Alternative Accommodations Likely to Bring Continued Disruption to Hotel Industry in 2020
MaryJo Finocchiaro | December 23, 2019
Real estate and hospitality professional MaryJo Finocchiaro expects trend to continue as consumers compare price/value proposition of the two products BOCA RATON, Fla., Dec. 23, 2019 -- The alternative accommodation business is a significant hotel industry disruptor and is becoming increasingly institutionalized characterized by sophisticated revenue management, multi-unit management companies, and talks of IPO's. According to MaryJo Finocchiaro, Executive Vice President and Chief Financial Officer for BRE Hotels & Resorts, "The alternative accommodation trend is expected to continue to grow but facing headwinds with the threat of e...
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