The And Its Effect On The Hotel Market

With recent economic crisis (2008), people globally tend to spend less of their money on travel. Regarding the hospitality industry, they would rather look for cheaper accommodation or room. With the crisis also affecting companies, business travelers are keener to find cheaper rooms or apartments to limit their changes.by offering cheap rents, AirBnB is offering an alternative solution to people and businesses, and is a good response to the crisis.

Today’s on-line travel market is succeeding because the companies are using a more software-centric, online business model termed “E-commerce.” This has become the popular avenue for businesses as it mirrors the ideas of mobility. The sheer amount of data available, coupled with the advanced operating systems and social media platforms, have created new possibilities for E-commerce organizations. The infrastructure of E-commerce has expanded into platforms such as peer-to-peer networking, crowd-sourcing, social websites, and mobile devices and media. E-commerce trends are findings ways to incorporate every aspect of our daily lives into an online package associated with our everyday needs (Fishbein, 2013).

Although Airbnb remains privately held, its valuation of over $10 billion now exceeds that of well-established global hotel chains like Hyatt. However, for required firms, despite both facing higher marginal costs and offering less personalized products than peer-to-peer platforms, have mostly downplayed competition from platforms like Airbnb. For example, hotel executives have publicly issued largely dismissive statements regarding competitors like Airbnb, arguing that these peer-to-peer platforms are either a small niche market or that they target complementary market segments from that targeted by hotel chains. Airbnb appears to also supports this final view: according to Airbnb, “76% of Airbnb properties are outside the main hotel districts”, suggesting complementarity of their offerings. We hypothesize that stays with Airbnb serve as a substitute for certain hotel stays, and that Airbnb has a measurable and quantifiable impact on hotel revenue in affected areas. Our study explores the relationship between Airbnb and hotels in the ______ by estimating monthly hotel room revenue as a

Employment received a hard hit by the recession, but this “gig economy” has been able to provide job openings that are in need. According to a recent study, jobs in the gig economy has grown from 9 to 14% from 2002 to 2014, compared to overall employment which only grew around 7%. Moreover, the gig economy has also had an impact in the current economy, specifically coming from the famous startups such as Uber and Lyft. The Uber and

Additionally, AskforTask practices the idea of collaborative consumption, also identified as a sharing economy. The notion emphasises

Our team chose the hotel industry in the United States for our economic analysis. The hotel business has existed since the earliest times, and has influenced the development of the economy since the founding of this country.

The “gig economy”, a terminological alternative to the sharing economy, is possibly the the next major workforce revolution. Providing many individuals means of gainful employment with schedules and opportunities that otherwise would not have been available, this economy of sharing is uncovering many vulnerabilities with the current state of affairs in theis country. Because of this, it could be said this new economic revolution is a double edged blade. Though this metaphor has foreboding connotations, the bennifit of te two edged blade is are more apparent when weilded by a sjulled practioner. As it stands, the gig economy is still in its infancy, so it isn’t surprising that those with a greater understanding of economies and group mobilization

Barriers to get into the hotel industry are huge, which make the hotel industry not look appealing to new entrants.

Uber, Lyft, Sprig and Airbnb are popular examples of businesses that are part of the new, techno-driven sharing economy that makes participating as simple as a tap on a smartphone.

As people are finding it harder to land jobs straight out of college, we are beginning to see a dip in ownership and a rise in collaborative consumption, the communal sharing of goods and services. Collaborative consumption is essentially an extravagant word for renting, and as young people are finding life to be more expensive than they once thought, renting seems to be the only option for many urban Americans.(HOOK) Collaborative consumption has been on the rise ever since the introduction of the World Wide Web when innovative companies such as Napster have stepped into the limelight and revolutionized the way we lived our lives. Rather than having to harry pounds of CD’s and cassette tapes, one could quickly download their favorite songs

While such hesitancy and anxiety are understandable during the initial emergence of a disruptive technology, the multifamily industry might be better served to embrace the reality of Airbnb and the sharing economy. The potential economic benefits for both owners and residents are just too powerful, and the risk of not embracing it is

The online marketing today has become an integral part of people’s lives. There people can buy digital products or services from a seller through companies such as Uber, Lyft, Amazon, E-bay, or Airbnb, This development in the online environment calls for new laws to regulate them. The laws reflect the needs, represent solutions to problems that people have noticed in their daily activities, and influence the society. They created within a society will work to develop it, to bring order in it, and to protect its citizens. Along with Uber and Lyft , Airbnb activities were the target of complaints by Chicago residents. In the article “Chicago May Regulate Airbnb,” by John Byrne, the author presents a huge debate about Airbnb regulation. John Byrne

Why waste money and material when people owning things they actually only need to use once or twice? The idea of ownership is shifting and becomes the idea of access or subscription instead of a one-time purchase. The innovation of technology made these ideas easy and fast by connecting consumers and created rating systems with the help of social networks and mobile technologies. Corporate America that contributed to over-consumption has raised global environmental and financial concerns. On the other hand, the rising trend of collaborative consumerism encourages eco-conscious ways to de-clutter over-consumption; it may have a negative impact on traditional corporate consumerism, but encourages ecofriendly entrepreneurships; it also

Since the emergence of Airbnb in 2008, concerns have been raised over the shortage of rental housing especially in big cities like New York and London. The claim is that due to increased participation of homeowners as Airbnb hosts, rental prices have surged dramatically (Booth, K., 2015). It has also been touted that Airbnb gives way for ‘illegal hotels’ that reduce availability of long-term flat rentals, particularly for low-income tenants (Masnick, M., 2013). This means more people are struggling to find decent housing and have to settle for properties that have safety hazards or poor rent security for an affordable rent. An expected outcome is an increase in urban homelessness.

With the interference of globalization in the hotel industry, it is inevitable for the hotel companies to meet with different environmental conditions and forced them to study about different management approaches in order to sustain with competing environmental circumstances which would enable them to realize, both negative and positive effects. Since the international trade and business has expanded, there is no doubt that the international linkage is a must. (ZhenJia) Globalization is a procedure that is drawing individuals together from all countries of the world into a solitary group connected by the tremendous system of correspondence innovations. This part of globalization has likewise influenced the HRM in the business universe of today. HR directors today not have to depend in a little restricted business sector to locate the right workers expected to meet the worldwide test, yet today they can enlist the representatives from around the globe. Other than that the viable information based which is being utilized all around today likewise has made HRM a straightforward yet successful undertaking. Along these lines because of globalization to some degree HRM has turned out to be more proficient and powerful, however moderately a basic errand. The most imperative component that these associations are comprised of People, and since HRM is the arrangement of exercises which manages the general population variable present in any association, this change has