airbnb
Alternative Accommodations Present an Opportunity for Institutional Capital and Traditional Brands to Join the Sector
JLL | June 23, 2022
CHICAGO, June 23, 2022 – What started as a marketplace for individuals to rent out their primary or secondary homes as a means of generating extra income has evolved into a complex, highly matrixed space akin to the traditional lodging industry. The alternative accommodation sector’s evolution intensified during the Covid-19 pandemic as increasing flexibility to work remotely, coupled with a heightened focus on quality of life and the need for social distancing, created strong demand. This paradigm shift has resulted in the alternative accommodations sector’s unprecedented growth over the past two years. “Following Covid, we’v...
Taking Back Market Share From Short-Term Rentals
Larry and Adam Mogelonsky | May 11, 2022
By Larry and Adam Mogelonsky The blinders are on as every hotel looks to cope with a swing back to high occupancies during the upcoming peak summer travel season. But think beyond this travel recovery scenario and you’ll see that the terrain has permanently shifted in favor of short-term rentals as leaders in some markets. We’ve been forecasting for quite some time that Airbnb, Vrbo and the like would come to not only take travelers from hotels but also influence the direction of the entire accommodations industry. Look no further than the gains seen from Airbnb’s earnings report from Q1 2022 released at the beginning of May. This...
People Around the World Are Booking Airbnbs in Ukraine to Help People in Need. Will It Work?
Anit Mukherjee and Alan Gelb | March 10, 2022
By Anit Mukherjee and Alan Gelb Over the past few weeks, thousands of people across the world took to Airbnb to book more than 60,000 nights at properties in Ukraine. Nearly all of these Airbnb would-be-guests weren’t considering wartime vacations, but instead were using the popular accommodation booking service as a cash transfer mechanism. This method of philanthropy appears to have originated and gained steam on social media starting on March 2, 2022 when a Twitter user shared the idea to support Ukrainians by booking rooms on Airbnb as a “way to send immediate monetary assistance to people in hard-hit areas.” In essence, p...
Unintended Consequences: How Chicago’s Airbnb Policies Are Backfiring
Hans Detlefsen | February 14, 2022
By Hans Detlefsen As Airbnb and other short-term-rental platforms have grown during the past decade, regulators and hotel industry associations have fought to limit their impacts. The hotel industry has generally viewed these new platforms as competitive threats. As such, the hotel industry sought to level the playing field by asking municipalities to impose taxes and regulations on short-term rentals that would be comparable to what hotels experience. Overview of Short-Term Rental Policies in Chicago In Chicago, the effort to constrain the short-term rental industry went farther than just leveling the playing field. Airbnb bookings ...
Student Mentoring by Airbnb Hospitality Guru for Top Hospitality Disruptive Idea
Les Roches | March 25, 2021
CRANS-MONTANA, Switzerland, March 25, 2021 -- Les Roches, the highly regarded hospitality business school recently ranked third for Employer Reputation by the QS World University Rankings 2021 is launching the second edition of "The Next Disruptor", a scholarship competition seeking ideas for positive disruption in hospitality, travel, and tourism. With the changing expectations of consumers and technology continuously reshaping the workplace, being connected to the evolving needs of the industry is a key factor for career success. As a business school dedicated to the hospitality industry, doing so right at the start and throughout a ...
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, ...
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