Airbnb and other shared accommodation platforms have gained immense popularity among travelers around the world. Not so much however among the residents at the destinations. The impact of vacation rentals – lack of housing, growing prices of accommodation, noise – resulted in strict regulations or even bans. After years of success, Airbnb faces new challenges.
Hospitality/ The Success and the Struggles of Airbnb
ARTICLES
AIRBNB INTRODUCES BOUTIQUE HOTEL ROOMS SEARCH AND OTHER NEW FEATURES
Following an announcement of a profit decrease of over 14 percent due to declining demand, the Airbnb stock price dropped by 16 percent in mid-August. During the subsequent investor call, CEO Brian Chesky took a proactive stance.
To overcome the current decline, Airbnb plans to introduce 'experiences' such as excursions, tours, and activities in the local area. These experiences, if successful, could significantly boost Airbnb's revenue. Although this idea has been attempted before and halted, ...
AIRBNB RENTALS CAUSING HOUSING CRISIS?
Since its founding in 2008, Airbnb, a peer-to-peer accommodation rental platform, has transformed the tourism industry and sparked a lively debate about its impact on the real estate market.
By offering travelers an authentic and cost-effective experience, Airbnb has attracted millions of users worldwide. However, a completely different reality lies beneath the stories of enriching trips and attractive gains for guests.
Let's delve into how Airbnb, through its disruptive business model, has in...
SOME EUROPEAN CITIES ANNOUNCED AN AIRBNB BAN
Large cities like New York, Tokyo, and Vancouver require hosts who offer short-term rentals to live in the homes they rent. In contrast, London and Paris restrict the number of nights a host can rent their home annually. Some destinations consider an Airbnb ban.
Experts have examined three European hubs—Lisbon, Florence, and Amsterdam—where strict regulations on short-term rentals have been implemented. Early data suggests that the restrictions in Lisbon and Amsterdam decreased hous...
SHARING ECONOMY IN THE MIDDLE EAST HOSPITALITY SECTOR ON THE RISE
The sharing economy in travel has experienced significant growth, reaching a market size of $10.7 billion in the GCC alone by 2024. This trend outlines some strategic moves the hospitality industry can make to exploit the opportunities.
The rise of the sharing economy in the hospitality sector is transforming the global travel industry, including the Middle East. The sharing economy, which involves the peer-to-peer exchange of accommodations and travel experiences through platforms like Airbnb ...