Sharing Economy/ Collaborative Consumption: It's affect on the travel industry
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Presentation on the Shariing Economy in the hospitality industry. ACTE Education Forum - Singapore - April 30, 2015
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Sharing Economy/ Collaborative Consumption: It's affect on the travel industry
- 1. #ACTEasia Sharing economy/ Collaborative consumption: Its affect on the travel industry David L Jones, PhD Professor and Programme Director Hospitality Business Singapore Institute of Technology
- 2. #ACTEasia DLJ & Corporate Travel Management
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- 12. #ACTEasia Brian Chesky - CEO of AirBnB & Rachel Botsman – Author of What’s Mine is Yours University of San Francisco Annual Symposium 2013
- 13. #ACTEasia Collaborative Consumption • Definition – Collaborative Consumption describes the rapid explosion in swapping, sharing, bartering, trading and renting being reinvented through the latest technologies and peer-to-peer marketplaces in ways and on a scale never possible before (www.collabortiveconsumption.com) – Originated in Mainland China with the tuangou (Zheng, 2011) – Also called “sharing economy” or “meshing”
- 15. #ACTEasia
- 16. Sharing Economy in Corporate Travel
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- 20. #ACTEasia Airbnb Growth - Internationally
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- 24. #ACTEasia Statistica – June 2013 Major USA Cities Mix
- 25. #ACTEasia San Francisco and Sharing Economy • Guest rooms inventory • Traditional hotel rooms = 33,000 • AirBnB listings = 5-10,000 • Conflicting interests
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- 27. #ACTEasia Issues in SF AirBnB Controversy Lodging Industry • Hotel Tax • Safety • Zoning laws • Rental market Sharing Economy People & sharing Excess consumption Entrepreneurship Trust
- 28. #ACTEasia Game Changer Chip Conley – Head of Global Hospitality and Strategy - AirBnB
- 29. #ACTEasia Only 10% of their business today
- 30. #ACTEasia “We will never compete with Marriott or Hilton for the two-day road warriors,” Conley says. “We don’t want that business traveler. For the road warriors that go two days here, two days there, and want a rewards program, that’s just not us.” 15 Oct 2014 - Quartz
- 31. #ACTEasia “It makes a lot more sense to have a place with a kitchen so we can cook; it feels more like home,” From a Tech Industry Corporate Traveler Based on Stay in SF
- 33. #ACTEasia Corporate Travel Impact • Concur Technologies incorporated AirBnB this year • Major convention bureaus for conferences • Companies using them – Salesforce – Evernote – Lyft
- 34. #ACTEasia Concur’s Tracking Results • AirBnB – Tripled, account for $1 million in expenses in first quarter of 2015 – One of fastest growing lodging segments • Uber – Usage it tracks grew ninefold from 2013 to 2014
- 35. #ACTEasia Other Sharing Economy Impacts Going Mainstream
- 37. #ACTEasia Meeting Space and Workplaces
- 38. #ACTEasia Are They Friend or Foe? Neither, It’s a Wake-up Call
- 39. #ACTEasia Rethinking Distribution Channel • Rethinking value creation • Rethinking value consumption • Rethinking quality control • Rethinking scale Choudray – Forbes 7/7/14
- 40. #ACTEasia
Editor's Notes
- Where the distribution system began when I started working with corporate travel
- Change to GDS
- Lessons from Shangri-la and the change that occurred
- A 1996 depiction of the distribution systems between guest and hotel
- Where is distribution going in the future?
- Traditional channels OTA’s Hotel Websites New channels Social Mobile Disruptor Sharing Economy
- Originated in Mainland China with the tuangou (Zheng, 2011)
- How I stepped into this arena
- Where in Singapore? Based on a week day search.
- How many use them? Zipcar is now Avis
- Rethinking value creation: Airbnb allows anyone with a spare mattress or room to run their own BnB, by giving them access and tools to market themselves to a potentially global market. Rethinking value consumption: It wasn’t common for travelers to stay at strangers‘ apartments in a new city. AirBnB created a new behavior and changed the very design of the traditional trip. Rethinking quality control: Hotels are known for their service quality and the reliability of the customer experience. AirBnB, on the other hand relies on a peer curation mechanism to ensure quality and reliability. Rethinking scale: Traditional hotels would scale by adding more rooms through new properties. Airbnb doesn’t own inventory. Instead, it scales by improving its ability to match users, leveraging better data.