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Sharing Economy/ Collaborative Consumption: It's affect on the travel industry

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Presentation on the Shariing Economy in the hospitality industry. ACTE Education Forum - Singapore - April 30, 2015

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Sharing Economy/ Collaborative Consumption: It's affect on the travel industry

  1. 1. #ACTEasia Sharing economy/ Collaborative consumption: Its affect on the travel industry David L Jones, PhD Professor and Programme Director Hospitality Business Singapore Institute of Technology
  2. 2. #ACTEasia DLJ & Corporate Travel Management
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  12. 12. #ACTEasia Brian Chesky - CEO of AirBnB & Rachel Botsman – Author of What’s Mine is Yours University of San Francisco Annual Symposium 2013
  13. 13. #ACTEasia Collaborative Consumption • Definition – Collaborative Consumption describes the rapid explosion in swapping, sharing, bartering, trading and renting being reinvented through the latest technologies and peer-to-peer marketplaces in ways and on a scale never possible before (www.collabortiveconsumption.com) – Originated in Mainland China with the tuangou (Zheng, 2011) – Also called “sharing economy” or “meshing”
  14. 14. #ACTEasia The Shift
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  16. 16. Sharing Economy in Corporate Travel
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  18. 18. #ACTEasia My Personal Experience
  19. 19. #ACTEasia $10 Billion Company
  20. 20. #ACTEasia Airbnb Growth - Internationally
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  23. 23. #ACTEasia How About Singapore?
  24. 24. #ACTEasia Statistica – June 2013 Major USA Cities Mix
  25. 25. #ACTEasia San Francisco and Sharing Economy • Guest rooms inventory • Traditional hotel rooms = 33,000 • AirBnB listings = 5-10,000 • Conflicting interests
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  27. 27. #ACTEasia Issues in SF AirBnB Controversy Lodging Industry • Hotel Tax • Safety • Zoning laws • Rental market Sharing Economy  People & sharing  Excess consumption  Entrepreneurship  Trust
  28. 28. #ACTEasia Game Changer Chip Conley – Head of Global Hospitality and Strategy - AirBnB
  29. 29. #ACTEasia Only 10% of their business today
  30. 30. #ACTEasia “We will never compete with Marriott or Hilton for the two-day road warriors,” Conley says. “We don’t want that business traveler. For the road warriors that go two days here, two days there, and want a rewards program, that’s just not us.” 15 Oct 2014 - Quartz
  31. 31. #ACTEasia “It makes a lot more sense to have a place with a kitchen so we can cook; it feels more like home,” From a Tech Industry Corporate Traveler Based on Stay in SF
  32. 32. #ACTEasia Advertising through Traditional Channels - AMEX
  33. 33. #ACTEasia Corporate Travel Impact • Concur Technologies incorporated AirBnB this year • Major convention bureaus for conferences • Companies using them – Salesforce – Evernote – Lyft
  34. 34. #ACTEasia Concur’s Tracking Results • AirBnB – Tripled, account for $1 million in expenses in first quarter of 2015 – One of fastest growing lodging segments • Uber – Usage it tracks grew ninefold from 2013 to 2014
  35. 35. #ACTEasia Other Sharing Economy Impacts Going Mainstream
  36. 36. #ACTEasia Transportation Examples
  37. 37. #ACTEasia Meeting Space and Workplaces
  38. 38. #ACTEasia Are They Friend or Foe? Neither, It’s a Wake-up Call
  39. 39. #ACTEasia Rethinking Distribution Channel • Rethinking value creation • Rethinking value consumption • Rethinking quality control • Rethinking scale Choudray – Forbes 7/7/14
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