Airbnb is having a real financial impact on the hospitality industry, and it’s time for incumbents to acknowledge and meet the challenge. Francesco Canzoniere’s insight: According to a recent report from Boston University, a 10% increase in Airbnb supply results in a 0.35% decrease in hotel room revenue, which translates into a 13% impact on revenue in […]
Airbnb is having a real financial impact on the hospitality industry, and it’s time for incumbents to acknowledge and meet the challenge. Francesco Canzoniere’s insight: According to a recent report from Boston University, a 10% increase in Airbnb supply results in a 0.35% decrease in hotel room revenue, which translates into a 13% impact on revenue in
Airbnb is having a real financial impact on the hospitality industry, and it’s time for incumbents to acknowledge and meet the challenge.
Source: www.thestreet.com
According to a recent report from Boston University, a 10% increase in Airbnb supply results in a 0.35% decrease in hotel room revenue, which translates into a 13% impact on revenue in Austin, Texas, which is home to the highest Airbnb supply.
This study also found that lower-priced hotels and hotels that don’t cater to business travel are the most affected by Airbnb. As a result of these impacts, the researchers found, hotels are reducing prices in an effort to stay competitive.
“Our work provides empirical evidence that the sharing economy is making inroads by successfully competing with, and acquiring market share from, incumbent firms,” the report reads.
Airbnb “is going to put out an additional supply of lodging rooms, and anytime you increase supply, holding demand constant, Economics 101 effectively means that prices go down,” Carroll said in a phone interview. “Airbnb is not driving demand, they’re probably shifting demand from some other hotels.”
Available in 10 languages, it promotes top Accor hotels and destinations and allows users to manage current bookings.
Source: ehotelier.com
Accor will offer guests an Accorhotels iOS app for Apple Watch™, which is to be released soon.
Accorhotels customers will: Receive alerts telling them the online check-in service is open Access information about their bookings: arrival dates, number of nights, number of guests Receive information about the hotel’s services (free WiFi, car park, spa, swimming pool, etc.) Access the interactive map, the itinerary to find the hotel and the local weather forecast Access their Le Club Accorhotels loyalty card details, with their status and loyalty points.
Accor Introduces Accorhotels App For The New Apple Watch™ Read More »
This study explores the effects of competitor pricing levels on relative revenue on a sample of over 4,000 hotels in Europe over a ten-year period (2004–2013). Hotels in this European sample, which included both independent and chain-affiliated properties, achieved higher revenue per available room (RevPAR) than direct competitors when they positioned their hotels with comparatively higher
eCornell Study Argues for a Firm, Strategic Approach to Hotel Pricing Read More »
Executive Summary: This study explores the effects of competitor pricing levels on relative revenue on a sample of over 4,000 hotels in Europe over a ten-year period (2004–2013). Hotels in this European sample, which included both independent and chain-affiliated properties, achieved higher revenue per available room (RevPAR) than direct competitors when they positioned their hotels with
eCornell Study Argues for a Firm, Strategic Approach to Hotel Pricing Read More »
More strategic moves by Expedia Inc as it invests $270 million in South American online travel agencies Decolar and Despegar.
Expedia Focuses on South America, Invests $270 Million in Decolar.com (OTA) Read More »
More strategic moves by Expedia Inc as it invests $270 million in South American online travel agencies Decolar and Despegar.
Expedia Focuses on South America, Invests $270 Million in Decolar.com (OTA) Read More »
The holy grail of smart business decisions is a single view of the customer, from a single source of truth. Learn how to do that with Google Analytics! Francesco Canzoniere’s insight: Here’s a run-down of what this epic article we’ll cover: + Universal Analytics: Why don’t you love it more? + Universal Analytics: Why does your
Google Universal Analytics: Best Strategy & Implementation Tips Read More »
