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Sharing Economy/ Collaborative Consumption: It's affect on the travel industry
The document discusses the impact of the sharing economy, particularly collaborative consumption, on the travel industry, with a focus on companies like Airbnb. It highlights key statistics, challenges faced in cities like San Francisco, and how traditional hotels are responding to this new market. The sharing economy is reshaping travel preferences and corporate travel dynamics, requiring a reevaluation of distribution channels and value creation in the hospitality sector.
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Sharing Economy/ Collaborative Consumption: It's affect on the travel industry
- 1. #ACTEasia Sharing economy/ Collaborative consumption: Itsaffect on the travel industry David L Jones, PhD Professor and Programme Director Hospitality Business Singapore Institute of Technology
- 2. #ACTEasia DLJ & Corporate TravelManagement
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- 12. #ACTEasia Brian Chesky -CEO of AirBnB & Rachel Botsman – Author of What’s Mine is Yours University of San Francisco Annual Symposium 2013
- 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”
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- 16. Sharing Economy inCorporate Travel
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- 20. #ACTEasia Airbnb Growth -Internationally
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- 24. #ACTEasia Statistica – June2013 Major USA Cities Mix
- 25. #ACTEasia San Francisco andSharing Economy • Guest rooms inventory • Traditional hotel rooms = 33,000 • AirBnB listings = 5-10,000 • Conflicting interests
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- 27. #ACTEasia Issues in SFAirBnB Controversy Lodging Industry • Hotel Tax • Safety • Zoning laws • Rental market Sharing Economy People & sharing Excess consumption Entrepreneurship Trust
- 28. #ACTEasia Game Changer Chip Conley– Head of Global Hospitality and Strategy - AirBnB
- 29. #ACTEasia Only 10% oftheir business today
- 30. #ACTEasia “We will nevercompete 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. #ACTEasia “It makes alot 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
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- 33. #ACTEasia Corporate Travel Impact •Concur Technologies incorporated AirBnB this year • Major convention bureaus for conferences • Companies using them – Salesforce – Evernote – Lyft
- 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. #ACTEasia Other Sharing EconomyImpacts Going Mainstream
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- 37. #ACTEasia Meeting Space andWorkplaces
- 38. #ACTEasia Are They Friendor Foe? Neither, It’s a Wake-up Call
- 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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Editor's Notes
- #4 Where the distribution system began when I started working with corporate travel
- #5 Change to GDS
- #6 Lessons from Shangri-la and the change that occurred
- #7 A 1996 depiction of the distribution systems between guest and hotel
- #8 Where is distribution going in the future?
- #10 Traditional channels OTA’s Hotel Websites New channels Social Mobile Disruptor Sharing Economy
- #12 Originated in Mainland China with the tuangou (Zheng, 2011)
- #13 How I stepped into this arena
- #24 Where in Singapore? Based on a week day search.
- #37 How many use them? Zipcar is now Avis
- #40 Rethinking value creation: Airbnb allows anyone with a spare mattress or room to run their own BnB, by giving them access and tools to market themselves to a potentially global market. Rethinking value consumption: It wasn’t common for travelers to stay at strangers‘ apartments in a new city. AirBnB created a new behavior and changed the very design of the traditional trip. Rethinking quality control: Hotels are known for their service quality and the reliability of the customer experience. AirBnB, on the other hand relies on a peer curation mechanism to ensure quality and reliability. Rethinking scale: Traditional hotels would scale by adding more rooms through new properties. Airbnb doesn’t own inventory. Instead, it scales by improving its ability to match users, leveraging better data.