Hotel Chains and the Sharing Economy in Global Tourism
Keywords:Hotel Chains, Sharing Economy, Sharing Accommodation, Corporate Governance, Tourism Market, Competitive Strategy
The global tourism industry has experienced steady growth in recent years. In this context, the sharing economy has changed the rules of global tourism, developing multi-sided technology platforms for the provision of hospitality with a range comparable to that of major hotel groups. The sharing economy is an emergent economic-technological phenomenon fostered by developments in ICT, considered both a disruptive innovation and a competitive threat to hotel companies. Accommodation sharing modifies the traditional short-term rigidity of the location-based hospitality offer, with a positive impact on global tourism as well as a significant change in the competitive conditions of the hotel market. This paper considers the role of hotel chains in global tourism and the effect on their governance generated by recent developments in accommodation sharing, of which Airbnb is pioneer and leader.
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