Question

How was Airbnb able to disrupt the hotel industry, dominated by huge organizations like Marriott and Hilton, which took decades to develop their success as worldwide leaders in hospitality? Explain.

Answer 1

Airbnb has developed quickly in the previous not many years and what the organization offers is where individuals can lease exclusive places for shorter remains. It has gotten extremely famous for tourists to utilize Airbnb instead of any hotels when going to places which have affected the hospitality business around the world. This implies Airbnb is a problematic advancement since it's rivalling the hotels for identical clients. The hotel industry got used to create a great deal of cash throughout peak periods like Christmas, New Year’s Eve or graduation times however with Airbnb as a contestant, the availability of rooms isn’t as scarce and therefore the hotels can’t increase their costs to the maximum amount as they would have earlier. New innovation has been destroying the market for conventional products over recent years. For instance, Uber is harming the business of taxis, Netflix put out Blockbuster, and iTunes pulverized many record and CD stores. Same is Airbnb accomplishing for the accommodation business.

The reasons that Airbnb was able to disrupt the hotel industry can be summarized using the following points -

• Cheaper Rates
• Better Availability
• Innovation
• Technology
• Choice of Options
• Value for Money
• Ease of Transaction
• Customer Service

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