â€œWe need to embrace the technology,â€ he said. â€œWe can choose to work with them, which we didnâ€™t want to do with (online travel agencies) at one point.Letâ€™s learn from that lesson.â€Â Cox said there are obvious lessons that can be learned by how Airbnb does business.
These are happy days for the hotel industry, so why does it seem like the only thing anyone wants to talk about is the shadow cast by the black cloud of the sharing economy?
Airbnb represents a significant threat in the eyes of many hoteliers, including those who spoke at the â€œAlternate accommodations: The demand banditsâ€ panel of the 2015 Hotel Data Conference.
â€œWe definitely see Airbnb as a big threat,â€ said Kurien Jacob, chief revenue officer of Highgate Hotels. â€œWe come across that in every single meeting we have.â€
Jacob said the preponderance of Airbnb hosts in New York City, coupled with that marketâ€™s well-publicized supply issues, has worked to drive down rates.
â€œAirbnb is so well known internationally, so itâ€™s not just a problem domestically,â€ Jacob said. â€œSo weâ€™re seeing (international travelers) coming into the city and staying with Airbnb.â€
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