ABSTRACT
Hotel companies are now paying attention to 'the Airbnb effect'. Evidence from the studies that do exist and more anecdotal and journalistic evidence indicate that Airbnb is having a significant effect and that this impact goes beyond the hotel industry to encompass local communities and the urban property markets of tourist destinations. The study pinpointed lower-end hotels as those that are most vulnerable to increased competition from rentals enabled by firms like Airbnb. According to data gathered by Tom Slee, author of a book on the sharing economy, 27% of Airbnb listings in New York are offered by people who own multiple properties, and the pattern is replicated in other key cities for Airbnb. On the face of it, meetings offer another appealing sector for a disruptor such as Airbnb because the sector is highly fragmented, with many small operators and poorly developed technology solutions.
