Business Model: More than Just an Accommodation<\/u><\/p>\n
Airbnb is an information technology platform that connects property owners (i.e., hosts) and travelers (i.e., gusts) for lodging in exchange for fees. It is a flagship in the rise of the sharing economy, where individuals rent\/borrow goods instead of purchasing them. Airbnb\u2019s main value proposition is its ability to provide hosts a way to optimize and capture value from underutilized space, and for guests to find alternatives, often cheaper, in accommodations.<\/p>\n
Airbnb has disrupted the mature hospitality industry from the traditional B2C model to C2C, where essentially every property owner can become a host. It differentiates itself from its traditional competitors by creating a sense of community and an emphasis on exploration. For instance, many hosts often serve as tourist guides or provide personalized restaurant recommendation as they are likely locals of the host cities. The value in these deeper personal relationships is especially attractive to travelers seeking more than a typical hotel experience, but higher-quality accommodations as compared to hostels.<\/p>\n