the history of shared economies peer to peer lending/trading shared economies in the internet age...
TRANSCRIPT
Oliver NabavianENGW 3304Prof. Richard
The Internet Shared EconomyHow Airbnb and the Hotel Industry Can Coexist
The History of Shared Economies
• Peer to Peer Lending/Trading• Shared Economies in the Internet Age• Collaborative Consumption (CC’s)• Example: Groupon
• Hamari’s 4 Factors to successful CC’s
Airbnb Enters the Market
• Short Term Rentals in over 190 Countries • Over 25 Million Rentals so far• Making Apartment Sharing Safe• Rating System• A new way to travel
Airbnb vs. Hotels: A Texas Study
• Boston University Case study on Texas• Hotel Revenue dropped .35% for 10% growth in Airbnb • Uneven hit to hotels• Findings show small affect to large national chains
The Hotel Industry Reacts
• Price Drops in New York City January 2015• Revenue available per room (revpar) dropped 18.6% YtY
• Primarily due to the rise of Airbnb and short-term rentals• Hotels advertise stability
Airbnb: Ethics and Legality
• 75% of NYC listings illegal• Confusing terms & Conditions help Airbnb
The Change That Needs to Happen
• New Markets emerging, laws need to adapt• Airbnb and Hotel industry are complementary• Marriott CEO Arne Sorenson: Not worried• Propose new NYC Law• Be the model of needed change
The Results
• Citizens win• Renters are protected• Everyone is on the same playing field
THANK YOU