What Hotels Can Learn From the Sharing Economy
Skift Take
Hotels and the sharing economy don't compete as much as they complement one another. Understanding what makes the innovators work, though, can improve the operations of hotel chains and properties.
Last week we released our latest report, “What the Sharing Economy Means to the Future of Travel“, looking at the economic, social, and technological changes that are driving customers toward the sharing economy and how it is affecting the incumbent players in the travel industry. It is the most definitive state-of-the-market report on this big growth sector in travel. We’re extracting a portion on its effects on the hotel industry below. Get the full picture, buy the report.
The sharing economy should not be viewed as a threat to the hotel industry. The fast rise of sharing startups notwithstanding, they still make up just a small fraction of the one billion yearly U.S. room nights.
“The meteoric rise of Airbnb.com, booking more than 10 million nights since its inception in 2007, should not cause the hotel industry to worry about the vacation rental market. Both business models have co-existed for a significant amount of time without infringing on each other’s growth,” says Michelle Grant, Travel and Tourism Manager at Euromonitor International. “There
