airbnb
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, ...
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...
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