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.
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. The use of other services, like the
On Real Estate point of view due to attractive income flow, permanent long term rentals are being converted to short term tourist accommodations resulting housing affordability pressures in major cities. This has raised important questions for urban policy makers and planners about how effective existing zoning and planning regulations and controls on tourist and residential accommodations are and the extent to which increasing tourism demand puts pressure on the local housing market. Also, Airbnb has penetrated residential neighborhoods which creates conflicts between residents and visitors generating negative neighborhood impact. The traditional tourism accommodation market involves tourists booking rooms from formal businesses such as Hotels. Airbnb has challenged this model by facilitating online market place that allows the large-scale rental of spaces from one ordinary person to another.
Globally the tourism industry is distinguished by high capital requirements and strong brand identity. Barriers for hotel market are medium or high because it depends on the size of financial resources, service quality, and chain of hotels worldwide with a strong brand image. The Marine Hotel is positioned as a luxury hotel with a high proportion of fixed costs to total costs. In hospitality area one of the most important goals is to have economies of scale because it makes things more efficient by increasing the operational size. It considers the resources used for construction, pre-operational expenses, and the cost of equipment.
Furthermore, analysis of a case of the Starwood Hotel & Resorts Worldwide Inc. against Hilton Hotels Corporation from a perspective of corporate social responsibility (CSR). Also, provide other leadership theories that potentially could influence the behavior in given situation for a more positive outcome and preventing escalation of the issue. Argumentations Hilton Worldwide Holdings Inc. was founded in 1919 and was aimed to become one of the largest corporation in the world. Today is one of the largest and fast growing hospitality corporation
This role may be seen as supervisory one, in which the manager selects, trains, promotes and dismisses subordinates. (Short, 1989: 122)Hospitality is a specific industry, with hotel management being, in addition, quite complex, because of increased competitiveness and changes in tourism demand. Everyday practice of hotel enterprises confirms the thesis that complexity, dynamics, heterogeneity and uncertainty are the main characteristics of today 's environments (Buble, 1997). Two main factors of the organisational environment in the hospitality industry are competitors and guests. Competitiveness requires new hotel products, increasing the quality of the hotel quality and changes in the behaviour of employed staff.
Individual travel companies are notoriously out of date in terms of technological adoption: travel companies still rely on fax machines and phones as main communication methods, while others struggle to connect to data sources to power their sales efforts. The concentrated and centralized state of travel distribution bears a strong cost on consumers, while poor currency exchange solutions inflate consumer prices. The problem is particularly acute for travel startups, the main sources of innovation in the sector. Online Travel Players Five companies in the travel industry control the most of the travel market. The two largest OTAs (Online Travel Agencies), Priceline Group and Expedia Inc., control 95% of OTA market in the U.S. Amadeus, Sabre, and Tra ve l p o r t , t h e t o p t h re e G D S s (G l o b a l D i s t r i b u t i o n Sy s t e m s), h a ve 9 9 % c o m b i n e d m a r ke t s h a re i n n o n - d i re c t inventory in the air market.
Problem discussion Hotel industry is one of the part of all services, and the trend depict that is still growing all over the world. The information can be support by the fact that the value of the GDP is almost 2/3 globally (Lovelock & Wirtz, 2010). Services are economic activities offered by one party to another in exchange of money, time and effort. (Lovelock & Wirtz, 2010). Hotel industry is developing in some trends and it is accompanied by the theme and process.
In the recent year the concept of image and loyalty have gained considerable attention from researchers and practitioners. Despite various advantages, the literature on brand image and loyalty within the hotel industry is still limited (Kayaman and Arasli (2007). Thus, it is essential to explore the tools and techniques used by the hotel organisations to enhance their image and loyalty. Image is an important factor that influences the marketing activity of the organisation positively or negatively. Image influences the mind of the customer with the combined effect of physical evidence and their actual experiences with the goods and services.
Literature review: Hotels today are much more than just a place to sleep or take a rest. Many travelers see them as an integral part of a gateway experience with the recent boom in luxury hotels, travelers can choose a hotel that is much a selling point as the destination itself. The hotel industry alone is a multibillion dollar sector, its driving enough for people to work in different areas of interest and still be employed within the hotel industry. Nowadays hotels are providing great services to their customers or guests. Some researchers have defined “hotel” as a place where an establishment providing accommodation, services, facilities, meals and others for tourists and travelers.