Abstract
The global tourism industry has experienced steady growth in recent years. In this context, the sharing economy has changed the rules of global tourism, developing multi-sided technology platforms for the provision of hospitality with a range comparable to that of major hotel groups. The sharing economy is an emergent economic-technological phenomenon fostered by developments in ICT, considered both a disruptive innovation and a competitive threat to hotel companies. Accommodation sharing modifies the traditional short-term rigidity of the location-based hospitality offer, with a positive impact on global tourism as well as a significant change in the competitive conditions of the hotel market. This paper considers the role of hotel chains in global tourism and the effect on their governance generated by recent developments in accommodation sharing, of which Airbnb is pioneer and leader.
Highlights
The global tourism industry has experienced steady growth in recent years
This paper considers the role of hotel chains in global tourism and the effect on their governance generated by recent developments in accommodation sharing, of which Airbnb is pioneer and leader
The global tourism industry is experiencing steady growth, with international tourist arrivals increasing by 4% or more every year (Figure 1) (UNWTO 2016)
Summary
Hotel chains have been subject to growing international development since the Second World War, the term has more ancient origins. From the beginning of this decade, the emergence of new markets and the increasing demand for hospitality services has prompted hotel groups to focus on business growth through expanding their market share in the global hotel industry. □ for example, the InterContinental Hotels Group (IHG) - a British multinational, first in the world for number of hotels (2015: 4840) and rooms (in 2015: 710,295) - owns the brands Candlewood. □ Hilton Worldwide - the American hospitality company, second in the world for number of hotels (2015: 4278) and rooms (2015: 708,268) has 13 brands across different market segments (luxury, upper upscale, upscale, upper midscale, timeshare) including Conrad Hotels &. Hotel chains initially paid little attention to the spread of the sharing economy and only after the rapid growth of platforms such as Airbnb did they recognize the importance of such alternative hospitality service provisions
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