sharing economy

/Tag: sharing economy

sharing economy

Building Your Hotel’s Sharing Economy Defenses

Larry Mogelonsky | May 15, 2019

By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) While it is crystal clear to me and many other hoteliers that the sharing economy and all its resident internet-based service firms (IBSFs) have severely changed how customers perceive hotels, many outside of hospitality tout their successes and grander benefits for the community. Regardless of whether or not they are ultimately 'good', the rapid proliferation of all these sharing economy accommodations should not be mere doom and gloom for hotels, however, but an opportunity for you to improve your own product. As Airbnb is by far the largest among these IBSFs, I will use it as a p...

Airbnb v. Hotels: New Research Sheds Light on How They Can Compete and Benefit in the Sharing Economy

INFORMS and Marketing Science | May 1, 2019

Key Takeaways: Airbnb cannibalizes hotel sales, particularly in the lower-priced leisure travel segment, while at the same time creating market expansion. Airbnb can help stabilize or even increase demand during peak travel seasons, offsetting the potential for higher hotel prices which can sometimes be a deterrent. The flexible lodging capacity created by Airbnb may disrupt traditional pricing strategies in some markets, actually helping to minimize the need for seasonal pricing. As Airbnb targets business travelers, higher-end hotels are most likely to be affected. CATONSVILLE, MD, May 1, 2019 – Researchers from the Teppe...

Can Hotels Sue Their Governments Over Home Sharing?

Larry Mogelonsky | March 13, 2019

By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) This is a special case that I've been waiting to write about since it hit the airwaves here in Canada in late October. Most interesting here is that it has a few powerful implications for the fight traditional hotels are facing against industry disruptors coming in the form of home sharing. Taxi drivers working in the City of Toronto launched a $1.7 billion CDN (about $1.4 USD) class action lawsuit against the city itself, claiming damages that reflect how much licensed taxis have lost – what is sometimes coined as 'plate value' – since these ride-sharing services came i...

Could Your Storage Space Be Your Largest Source of Ancillary Revenue?

Stasher | January 22, 2019

Revenue management is fundamental to any hotel operation - so why doesn't your luggage room receive the same attention? Many hotels have embraced the "sharing economy" by offering luggage storage to non-guests through Stasher, the world's first online luggage storage platform. Indeed, while Airbnb is often thought of as the arch nemesis of hotel owners, the model is driving a market that hotels are now directly benefiting from. Backed by Hotels.com and Expedia, Stasher connects travellers looking for reliable, short-term storage with hotels, shops and businesses eager to monetise their unused storage space. For hotels, it could not be m...

Blurred Lines Between Hotels and Airbnb

Luigi Major | September 20, 2018

By Luigi Major In this new day in age, the meaning of travel has taken an interesting turn in terms of what is driving consumers away from home. The generation of material pleasantries has come and gone, and what people are really looking for these days are new and engaging experiences. Curiosity is driving interest away from the status quo. While the necessities, like having a great location, providing safety and security while keeping a high standard for quality, will always hold value, consumers are seeking ways to leverage their travel by experiencing and becoming one with the surrounding environment. A new fine line has been create...

PolyU Study Evaluates Airbnb – Friend or Threat?

August 21, 2018

Home rental sites such as Airbnb do not yet represent a threat to Singapore's budget hotel operators, although the market is under considerable pressure from new entrants, according to a study by Professor Brian King and Edward Koh, student of the Doctor of Hotel and Tourism Management (D.HTM) programme, of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University (PolyU). Their findings, however, suggest that the threat posed by the rapidly growing home rental market could intensify unless the government introduces regulations to "level the playing field" in the near future. Technology has generated "hug...

Half of Americans Unlikely to Use Sharing Economy Services for 2018 Summer Travel, Despite Reporting High Familiarity and Better Value

Allianz Global Assistance USA | July 12, 2018

RICHMOND, Va., July 12, 2018 -- While Americans are growing more familiar with sharing economy services, the intention to use these services is declining in favor of more traditional services. According to the fourth annual Allianz Travel Insurance Sharing Economy Index* released by Allianz Global Assistance, 53 percent of Americans declared they are either "not very likely" or "not at all likely" to use sharing economy services during their 2018 summer travels. That's despite Americans' consistent belief that sharing economy services offer a more authentic local experience and better value for their money. S...

ISHC Worldview: Sharing Economy and the Appeal of Timeshare

ISHC WorldView | June 7, 2018

7 June 2018 ISHC WorldView revealed that 69% of members surveyed believe the appeal of timeshare is diminishing. With Airbnb.com now allowing hotel listings through 3rd party distribution platforms, it's clear the sharing economy hasn't stopped evolving to increase their piece of the pie. What does the sharing economy have that timeshare doesn't? Insights from ISHC members revolve around two common themes: flexibility and unique experiences. ISHC's Tim Peck, Chairman of OBM International Limited commented, "The sharing economy allows far more flexibility in being able to have your home away from home." "Why would a consumer want to lock...


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