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Sharing economy, G1 (DFLL 4 Emily, IBS 2 Kimo, IPCM 4 Liang, IBS m2…
Sharing economy
How Airbnb and short-term rentals reshape rural and urban communities
Background
STRs( Short-Term-Rentals) were expected to threat to hotels.
But hotels still maintain profit.
STRs such as Airbnb's popularity and supply increased.
Hotels and STRs learn from each other.
Hotels
remote working place
STRs
concierge service
What are urban facing?
local resident
Affect quality of life.
Rental was increasing.
The quantity of long-term housing's decreasing
Hosts
Profit decreased
urban
Public security was getting wrose.
What are rural facing?
Advantage
STRs provided more supply for tourists when they are looking for a place to stay in rural areas.
Hotels tend to be in short supply in country side.
Promote counrty development.
Disadvantage
''Airbnb built a town"
It has no police system, perfect infrastructure, but the population is as high as 50,000 in a small town.
Because STRs improved the housing supply.
Profits have been prioritized over planning or infrastructure.
Is the Sharing Economy a SHAM?
Share Economy
Initial Advantage
Low Price
Same, better service
More convenient
Current Change
Rising demand
labor shortage
make more profits
Raise price
Profitability Challenges for Tech Companies
Blitzscaling
Low Profit
Uber, Lyft, and DoorDash
rely on large-scale money
long-term losses
Impact on Traditional lifestyle
Commission pressure
Small businesses
restaurant
High Commission
partner with delivery platforms
lose competitiveness
taxi industry
Uber's low-price strategy
Long-term rental supply declines
Long-term
Less profit
Short-term
More profit
Airbnb
Declining quality of life for resident
Security
rising prices
T&T
pollution
Future
Worry
The monopolistic expansion of technology giants
harm the market
Outlook
Stable profit method
maintain newl ifestyles
Balance economic and social development
Leveraging Travel &Tourism to address future global challenges
the future global risk for T&T
short-term
social polarization
involuntary migration
inflation
safety and security: misinformation and disinformation
inequlity and limited economic prospect
extreme weather amd pollution
cybersecurity
long-term
environmental risk
biodiversity loss
the shortage of natural resources
extreme weather event
the adverse outcome of AI
security
cyber insecurity
misinformation and disingormation
Travel &Tourism become a positive force
environmental sustainability
environmental challenges
pose danger to natural resources
how to address
protect the environment by creating greater economic value
e.g.
GFC
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wildlife tourism in Africa
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energy transition
Greenhouse Gas emissions from Travel and Tourism increases
transporation
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emssions resulting from electricity
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emssion which made in value chain
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promoting responsible consumption
increasing tourists' awareness of being environmentally friendly
socioeconomic prosperity
T&T for employees: low-entry and part-time employment
provides opportunities to employing women, youth, migrants
negative effect for the visitor experience and local liveability
strategically managing visitor behaviour and infrastructure development
developing transport
rural regions can also develop tourism
improving infrastructure
global connectivity, peace and cultural exchange
increasing travel openness
e.g.
visa
labor market internationalization
encouraging cultural exchange between visitors and the local community
technology
digital platform
bridging the digital divide and creating job opportunities
promote and reach potential tourists at low costs without needing to invest in traditional large-scale advertising
e.g.
Airbnb
sharing economy
enter the market with relatively low-cost avenues to market
they can sell their products to global consumers
adopting technology-enabled sustainable and resilient T&T management
businesses can understand the factors influencing consumer choices
The interview with the Airbnb's CEO
Regulatory Challenges
government regulators and hotels competition
Belinda Johnson
"If people don't like you, you should meet with them.It's hard for people to hate you up close"
Build understanding and find win-win solutions
Showing respect and listening to regulator to create effective regulations
Birth of Airbnb
came up with the idea during a conference in San Francisco
try to copy the previous success
:red_cross:
called their venture
"Air Bed and Breakfast"
initially
Breakfast - cereal v.s Bed - housing
market size of housing bigger than breakfast
Y Combinator provided them with crucial funding in 2009
Focus on 100 people love you, rather than getting a million people that kind of like you
Don't stop to improve, design the perfect experience
People who love your service will become your marketing department
Designer background
making complex things simple
focusing on every detail
holistic thinking
contrast
narrow focus of engineer
emphasizing the value of a balanced approach
Storytelling and design principles on product and company's culture
sharing about problem
challenges of growing company
Government Regulation and Scrutiny
faced pressure
without
Dealing with the government
taxes
Engagement and Seek Understanding
from negative to positive
meeting with officials who held critical views of Airbnb
regulations
fair competition with traditional lodging providers
Strained internal operations and processes
slowing growth
rising costs
Are there enough resources to support growth?
sprawling organizational structure
decreases in efficiency of Communication and development
Shift from a Divisional to Functional Organizational Structure
Directly commanded by upper management
Centralized decision-making and professional division of labor
Housing Affordability Concerns
homeowners and landlords opted to list their properties on Airbnb
reduced the availability of long-term housing options
driving up prices of house
Tailored Solutions for Different Cities
develop customized regulations
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collected and remitted hotel taxes
contribute to city revenues and support local initiatives
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Pandemic impact and recovery
urban travel declined during the pandemic
Dramatic Revenue Loss
Rapid Cost-Cutting Measures
laid off nearly 25% of its workforce
Executive pay cuts
Cancel the marketing budget
Transform the marketing model
Brian do it by himself :start doing press interviews
cost down nearly a billion dollars on marketing
Existential Threat to the Business
Rebuilding the Company and business
Stays longer and Diverse Locations
growing desire for social distancing and nature-based experiences
promoted travel to
rural communities
and
lesser-known destinations
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Remote working
Post-pandemic
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Pandemic
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Shift from a Divisional to Functional Organizational Structure
directly involved,more efficiency,and better position
Psychology crisis
Optimistic mentality
Believe yourself, get more decisive
Brian see it
G1
DFLL 4 Emily
65%
IBS 2 Kimo
67%
IPCM 4 Liang
58%
IBS m2 Wiiiiam
80%
IPCM3 Tammy
50%