ABSTRACT
The Lodging-Shared Economy (LSE) has blossomed into a profitable industry since the turn of the century, which allows normal, entrepreneurial people to rent out properties for the express purpose of making a profit. Although it began as a means to rent out spare bedrooms and one’s whole house while on vacation, the LSE industry has expanded to allow people and small companies to utilize an LSE platform to run inns without investing in a full-fledged hotel. This has introduced many legal issues because hotels believe they are not able to compete with LSEs on a level playing field as hotels have more regulations and taxes than LSE properties. Potential guests select a property from an LSE Internet application that meets their needs, then reserve and pay for their stay using the application. This application connects the renter with the guest to allow for the completion of the accommodation’s stay details. Differences between an LSE stay and a conventional stay at a hotel are compared to better understand this new accommodation offerings. Traveler preferences and types of LSE arrangements are also discussed and explored to better understand how various types of LSE arrangements (including whole house/apt.; private room; and shared room) compare to more hotel types (e.g., traditional room, suite, extended-stay).
The recent addition of attractions and experiences is an attempt to pair LSE accommodations with unique, ‘local-type’ experiences that are not as readily available from a hotel stay. Many LSE accommodations themselves include local flair events such as a home-cooked meal or some type of host-guided excursion that clearly exceeds what is available from a hotel. Other issues are addressed including cleanliness and comfort standards; cultural differences and mores; legal challenges; and negative impacts of LSEs.
