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Sharing Economy: How It's Transforming the Hotel Industry

What is Sharing Economy?

Today, the hospitality industry is being revolutionized by something known as the “sharing economy.” This new form of hospitality has allowed travellers to access services and experiences that were previously inaccessible or unavailable.

As the hospitality industry continues to evolve, it is important to understand what the sharing economy is and how it is impacting the hospitality industry.

In this blog post, we'll explore what the sharing economy is and how it is transforming the hospitality industry.

The sharing economy has been revolutionizing the way people access and share goods and services. From ride-sharing to accommodation-sharing, the sharing economy has been disrupting traditional industries as consumers seek out more convenient and cost-effective options.

The hotel industry is one such sector that has been significantly impacted by the sharing economy. With the emergence of accommodation-sharing platforms such as Airbnb, consumers can now enjoy a more personalized and cost-effective experience when booking a hotel room.

The hotel industry has responded to the sharing economy in a variety of ways. Some hotels have adopted strategies to compete with AirBnB and other platforms by offering more personalized services and amenities. This allows them to stay competitive while still providing guests with a luxurious experience.

So, how can your hotel compete with Air BnB?

As AirBnB continues to grow and develop, it’s important for hotels to keep up with the changes and find ways to differentiate themselves.

One way to do this is by understanding how your hotel sets you apart from AirBnB and leveraging this to your advantage.

Here are some of the ways hotels are competing with AirBnB:

1. Offering More Amenities

Hotels can offer amenities that AirBnB can't, such as 24-hour room service, complimentary breakfast, or a full-service fitness centre. They can also offer packages that bundle these amenities and offer discounts to guests, making them an attractive alternative to AirBnB.

2. Invest in Technology.

Hotels can invest in technology such as mobile check-in, virtual concierge services, and intelligent room settings to make the guest experience more seamless. They can also leverage technology to provide insight into customer preferences, allowing them to personalize their services and marketing efforts.

3. Provide Comprehensive Service.

AirBnB is often seen as a “do-it-yourself” type of experience, with guests being on their own when it comes to things like check-in, housekeeping, and concierge services. Hotels, on the other hand, can offer a more comprehensive service, providing a range of amenities and services to make guests feel welcome and taken care of.

4. Focus on Local Experiences.

AirBnB often offers a more “authentic” local experience, with guests staying in local homes, and experiencing the culture and people of the area.

Hotels can focus on providing local experiences as well, such as connecting guests with local tours and activities or partnering with local businesses to offer discounts and deals. By understanding the key differences between the two services, hotels can leverage these to their advantage and create a more compelling offering for their guests. With the right strategies and investments, hotels can stay competitive in the sharing economy and keep up with AirBnB.

By responding to the changes in the industry, hotels are able to remain competitive in the ever-evolving market.

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