Introduction Oil prices have always been an issue of concern to economists, and it is also one of the things with constantly changing price. In recent years, the decline of oil prices has had a huge impact on the world economy, at the same time, the hotel industry had also been affected. The first part will set forth the reason why the oil price went down and what is the influence on hospitality industry: Is it positive or negative for hotel business. Shared economy is a new topic, and has recently been very active in the hospitality industry, and it has significant impact on the hotel industry. The hotel industry should accept it or reject it. The second part of the report will be analyzing of what is sharing economy, the impact of the sharing …show more content…
And jointly enjoy economic dividends. At the present stage, the world has more than tens of thousands kinds of sharing economic companies. They affect people's lives and consumption patterns in various industries. Among them, the largest representative is the transportation industry Uber, and hospitality industry Airbnb. Airbnb, as sharing economy representative of the hotel industry, it is to subvert the traditional hotel industry. The impact of the hotel industry Airbnb and other housing sharing services, such as One Fine Stay, brings the chain effect to affect the traditional hotel industry. Apartments in each city are likely to become traditional hotel’s competitors. In order to confront with Airbnb and other housing sharing services, many of traditional hotels are trying to change. Airbnb, in addition to providing sharing services, also provides those who have same preferences’ people to promote the membership system. Become a member can get the information about the local area, it helps their users to understand the information about the destination. According to the user feedback, this system is rated as one of the main positive aspect of Airbnb …show more content…
Also rooms on Airbnb usually offer more services and functionality than hotel. With the price of a 3-star hotel, people can live in an Airbnb apartment with kitchen, bathroom and balcony. It caused a huge impact on the hotels that has been positioned as mid to low price range. However, for consumers who do not care about the budget, the attractiveness of Airbnb is not large. Especially for the hotel expenses that can be reimbursed for business travelers and tourists who usually choose luxury hotels, to give up the hotel and the choice the Airbnb is almost impossible. So, the impact of the luxury hotel is relatively
Document A Businesses went from low income friendly to high-income friendly. Low-income housing decreased in Woodward from 1995-2012 -Social housing increased from 1995 to 2012 It would have been better to live in Woodward in 1995 because the properties are low income friendly and more people have the opportunity to live there. Many people in Woodward in 1995 would be put in the stereotype that low-income people are committing crimes Gentrification is not okay because many people in the world have issues with finances.
ARE UBER DRIVERS EMPLOYEES OR CONTRACTORS? Two options are open if you are employed and interested in the Uber business. You can choose to quit your employment and dive deep as an exclusive uber driver, or you can keep your job and use your spare time to ride and earn with Uber. One factor that should profoundly influence your decision is the fact that as an Uber driver, you are an independent contractor who is self-employed. As an independent contractor, you sell services for Uber, but you don 't work for them.
Introduction - If you’re an aspiring Airbnb host, it is of paramount importance that you ensure all your renters are comfortable in their temporary lodgings. That means making sure the listed property is warm, secure, and, above all else, clean. Keeping your rental property clean can be a difficult task, especially as some travelers can be a tad more careless than others, but it must be done if you are to satisfy clients and maintain a good reputation on Airbnb. In order to help you keep your tenants comfortable for the duration of their stay, I have prepared this list of some of my top tips for maintaining a tidy Airbnb space.
This part is very important because every that airline, who is connected to our system would be shown on our website and we must have access to those airlines’ database, because database is very important in our case, we must have all the information about that airline. Because when a client will ask about information of a specific flight and if we have access to that database, only in this case we would be able to inform the client. Ticket Reservation This module will allow the client to search of a specific flight, choose flight, details, confirmations, cancellations etc.
5. Regular bonuses and benefits are granted to the hotel
1 What is Outrigger Hotels and Resorts’ strategic position? What are the firm’s Critical Success Factors (CSF)? Outrigger Hotels and Resorts are currently using geographical and product diversification strategy. The firm expend their firm around Pacific Ocean and diversify its product portfolio by adding condominiums resorts and OHANA hotels.
(American company financing startups) with an additional $20,000 in funding. At this time Airbed & Breakfast becomes Airbnb. They received $600k from Sequoia Capital and Y Ventures (specializing in incubation and financing of innovative companies). In 2010, Airbnb perceives $7.2 million Series A (A Series A round is the name typically given to a company's first significant round of venture capital financing ) Back in
In the United States, significant urban communities are thinking about managing Uber. In any case, it confronts considerably more difficulties as it extends globally as a few nations are picking to boycott Uber or certain administrations that it offers. Uber should adjust its showcasing procedure to address both challenges inside the United States and in addition to the different laws upheld in various nations. Yet, as with each quickly developing organization, Uber additionally has shortcomings that can keep it from growing further.
The VHB has faced the Technological changes as well. Source:http://www.chandratravel.com/images/hotel-2015729112542.jpg The strengths and the weaknesses of Landmark Village Hotel ( SWOT ): Business uses SWOT analysis to determine the internal and external factors that directly influence their
The offers of accommodations via Airbnb are currently available in 192 Countries and in over 34,000 cities worldwide (O 'Toole, 2014). The valuation of Airbnb, the home-rental platform, is worth of $10 billion after it raised $450 million from private investment firm TPG in 2014 (Spector, Macmillan & Rusli, 2014). The type of business of Airbnb can be categorized to social networking service which focuses on the accommodation-rental service. The concept of Airbnb is actually a sharing economy which enables the customers to become the micro-entrepreneurs at the same time. Airbnb aims at not only providing the accommodation opportunities but also the experiences for people to interact with others all around the world and get to know how the local people live in a certain city and have some culture exchange experiences with international guests and hosts.
The Five Competitive Forces of Industry will influence prices, costs and investment (Porter, 1980). The potential retaining of customers, profitability of a holiday inn can be determined by being aware of the strengths and weaknesses of the hotel industry. (Figure 2.2: Porter’s Five Forces Model (Source: Adapted after Porter,2008) Porter’s 5 model helps in success of Holiday inn between suppliers and buyers. Giving customers the service they are looking for, acquire customers, retain customers and looking externally how the competitors are doing is very important. To ignore the power of customer relationship is not an option.
Advertisement of a Doubletree Hotel by Hilton Berkeley Marina People are easily influenced by advertisements, especially if the advertiser is persuasive. Doubletree Hotel in California is one among the many ads which presumably will influence many people because of its attractiveness. The advertiser presents to the public the number of rooms, including the different facilities that will keep customers relaxed and comfortable. The audience targeted are those who love physical exercises, business people, families and individuals wishing to relax and have fun, tourist, and new visitors coming into the city. Generally speaking, the bedroom with all the furniture, the painting, and the carpet are attractive and
In the case of hotels, suppliers create different consumer segments, we can relate to them as lower-end consumers, and higher-end consumers. Obviously, hotels cannot set the price that higher-end consumers are willing to pay, because all lower-end consumers will not be able to afford the good. Inversely, if hotels set the price that lower-end consumers are willing to pay, higher-end consumers gain huge consumer surplus, thus lowering the profit for the suppliers. In order to take the consumer surplus, hotels keep lower prices for some rooms in order to target lower-end consumers and offer some higher quality rooms (for example presidential suits) to target higher-end consumers. The difference in revenues providing different rooms and the same ones is seen below.
The situation of the Uber drivers is under confusion. It is easy for the company to tell the drivers that this will be the future, but the occupation and the life of the Uber drivers’ matters a lot. Peak demand
Having a value of over $10 billion, Airbnb “exceeds that of well-established global hotel chains like Hyatt” (Hospitality Net). This proves that this online service is significantly surpassing these stable hotel chains that have been competing in the industry for over 60 years. Along with this, a recent report by HVS Consulting & Valuation found that “hotels lose approximately $450 million in direct revenues per year to AirBnb” (Orourke). Although Marriott International has been performing with a 45% increase in revenues from 2012 to 2016, Airbnb has definitely had an impact on the consumer perspective of traditional hotel rooms. In addition to this, hotels also lose over $108 million of food and beverage revenues as a result of guests not spending their money at the hotel’s restaurant.