1. THE NEW SHARING ECONOMY
Is this the end of tourism
as we know it?
MANOLIS PSARROS
MANAGING DIRECTOR
2. IN THIS PRESENTATION:
KEY DRIVERS FOR GROWTH
MAIN BENEFITS & TOP CHALLENGES
SHARING ECONOMY & TOURISM
KEY TAKEAWAYS
3. WHAT IS SHARING ECONOMY?
"An economic model based on sharing
underutilized assets from spaces to skills
to stuff for monetary or non-monetary
benefits'‘
Rachel Botsman,
8. MILLENNIALS LEAD
THE WAY
The fastest growing customer
segment in the hospitality industry,
expected to represent
50% of all travelers
by 2025
KEY DRIVERS FOR GROWTH
9. CHEAP & EFFICIENT WI-FI
CLOUD COMPUTING
ULTRA-PRECISE
GEO-LOCATION
CROUDSOURCING
INTERNET OF EVERYTHING
KEY DRIVERS FOR GROWTH
13. TOP
CHALLENGES
SOURCE:
THE DARK SIDE OF THE
COLLABORATIVE ECONOMY
JEREMIAH OWYANG
SF, SILICON VALLEY
FOUNDER,
CROWD COMPANIES COUNCIL
1. IT MIGHT BE ILLEGAL (OR NOT YET REGULATED)
2. PUBLIC SAFETY & QUALITY CONTROL ISSUES
3. TRAINED PROFESSIONALS VS AMATEUR SERVICE
PROVIDERS
4. LEGAL LIABILITY IS CHALLENGED AS OWNERSHIP
AND ACCESS MODELS ARE DILUTED.
5. LACK OF STANDARDIZED REPUTATION SYSTEMS
6. PRIVACY OF CUSTOMER DATA
7. SECURITY OF TRANSACTIONS
TOP CHALLENGES
16. SHARING ECONOMY & TOURISM
ROOM FOR ALL, FOR NOW
The top brass at the
Marriott, Four Seasons and
Hilton chains have all said
that these firms do not
compete for their core
market of accommodating
high-end and business
travellers; a vice-president of
The Ritz-Carlton group
recently claimed she had not
even heard of Airbnb.
17. SHARING ECONOMY & TOURISM
AIRBNB EXPECTED TO DOUBLE IN SIZE IN 12 MONTHS
18. SHARING ECONOMY & TOURISM
BARCLAYS singles out Accor as the most exposed hotel group to Airbnb
(although the chain has higher leverage financially) with around 9% of of its
rooms under threat. InterContinental Hotels Group is estimated to have
exposure in the region of 5% of rooms, Barclays claims. SOURCE: TNOOZ
19. SHARING ECONOMY & TOURISM
‘What we are seeing with the short-term online rental
companies is an unwillingness to adhere to the same city, state
and federal laws as hotel. These laws were put into effect for
the safety and security of our guests and must be equally
applied in the sharing economy as well’’.
KATHERINE LUGAR, PRESIDENT & CEO OF THE AH&;LA
AMERICAN HOTEL & LODGING ASSOCIATION
20. SHARING ECONOMY & TOURISM
‘Internet has changed dramatically the way the tourism sector
operates, the explosion of new online platforms and in
particular, of the new forms of tourism services has modified
substantially the classical tourism business. Shadow
hospitality in particular, is an new phenomenon that needs to
be addressed as it also affects the quality of the overall travel
experience of the consumer which may directly impact the
other tourism sectors’’.
CHIRSTIAN DE BARRIN, CEO OF HOTREC
HOTREC
21. SHARING ECONOMY & TOURISM
‘Whether it is about cabs, accommodation, music, flights, the
news or whatever, the facts is that digital technology is
changing many aspects of our lives. We cannot address these
challenges by ignoring them, by going on strike, or by trying to
ban these innovations out of existence’’.
NEELIE CORES, FORMER VICE-PRESIDENT OF THE EUROPEAN
COMMISSION
EUROPEAN COMMISSION
22. SHARING ECONOMY & TOURISM
‘’Only a piece of the collaborative economy..’’
‘I don’t believe hoteliers should worry about AIRBNB’s
emergence, but there’s much to be learned by this burgeoning
platform’’.
‘Our community wants to pay its fair share and we strongly
support sensible regulations for home sharing’
CHIP CONLEY, Head of Hospitality & Strategy, Airbnb
AIRBNB
23. SHARING ECONOMY & TOURISM
SHARING’S NOT JUST FOR
START-UPS
Currently 432 Marriott hotels
have meeting spaces listed with
LiquidSpace—and because many
of the people reserving space
aren’t guests, the arrangement
helps Marriott reach new
consumer.
.
31. AMSTERDAM CITY COUNCIL CREATED A NEW CATEGORY OF
ACCOMMODATION THAT MAKES IT LEGAL FOR CITY RESIDENTS TO
OCCASIONALLY RENT THEIR HOMES TO TOURISTS.
32. THE UK GOVERNMENT ALSO ANNOUNCED REFORMS THAT WOULD SCRAP RULES PREVENTING
HOMEOWNERS FROM RENTING THEIR PROPERTIES ON SITES SUCH AS AIRBNB.