: Airbnb has an unmatched amount of variety simply based on the fact that each home is different (exterior, interior and amenities). : There are different cases. Growing the team form zero to 2000 employees. The network effects are often stated as the competitive advantage of platform businesses. The company maintains a strong brand name, good communication and social media ties, tight-knit communities, and an already respectable range of services and listings. Airbnb.org helps fund stays for relief workers who are doing critical work to rebuild communities. Tangible resources + intangible resources = create capabilities . Give evidence other than the company's own claims. Airbnb expanded its law enforcement portal to nine languages as part of the platform's efforts to fight child exploitation, the company said.. December 15, 2022. https://business-essay.com/airbnb-strategic-analysis/. Taxation has also become a complex issue as Airbnb is facing fines and lawsuits in various cities around the world for failing to follow local laws for tourism, lodging, and taxation. Marketplace checklist: How Airbnb built a $35 billion business on its brand strength. December 15, 2022. https://business-essay.com/airbnb-strategic-analysis/. Coldwell, W. (2014). We distinguish between key partners, those that are crucial to the platform, and other partners. Despite the company having some glaring weaknesses and threats in terms of legality issues, business model replication, potential issues with reputation and others, they can be addressed with strengths and opportunities. Intangible resources of Airbnb Table are -skill and administrative level of managers, brand names and goodwill of the company, intellectual property rights, copyrights, trademarks, and special relationship with supply chain partners. The business model that Airbnb utilizes conflicts with many regulatory guidelines, nor are their protection mechanisms in place for consumers or hosts. Importantly, teams . Read Airbnb's antidiscrimination update and get involved. The concept allows reducing waste and energy usage, leading to a long-term positive impact on the environment. There are few substitutions to the peer-to-peer lodging service that Airbnb offers that ensures an authentic and direct communication experience. The company also cooperates with boutique hotels and bed-and-breakfasts, enticing lower listing fees but expanding the availability of choices for travelers (Maliczowska, 2015). Airbnb is funded by 83 investors. All the elements in the VRIO are highly valuable to the organization, and some, such as the platform and services are quite rare in the industry. As the shared economy model expands to other sectors, it is likely more progress will be made in terms of policy, but housing, lodging, and tourism remain some of the most challenging policy and legal aspects in any jurisdiction. High level of technology integration into various business processes. By connecting directly with Airbnb's API, our two-way integration allows real-time synchronization of booking information, availabilities, rates and messages between Lodgify and Airbnb. Approaching user content marketing competently can lead to greater brand awareness, feel authentic, attract new customers, and strengthen relationships with the existing community. In five years, Airbnb Design will be known for sourcing and nurturing the most diverse, highly skilled designers and creatives in the industry. Indeed, from the first quarter of 2019 to Q1 2021, active listing in. A world where anyone can belong anywhere starts with a workplace where you feel welcome and can contribute your best work. Some examples are: Take the best free article on our website and: The most important asset of the platform business model are its network effects. With 4 million Hosts across more than 220 countries and regions and more than 900 million guest arrivals, Airbnb is in a unique position to see how travel is changing. While at first, there was skepticism around a shared economy for something as private as home accommodations, it has become an open and comfortable element of the peer-to-peer network (Maliczowka, 2015). Web. Airbnbs crucial partners are the. between the participants (hosts and guests) are essential. The threats to a new entry into the peer-to-peer lodging sector is virtually non-existent due to the challenging barriers to entry. Their revenue shrank by 30% in 2020 and rebounded by 77% in 2021. Airbnb Strategic Analysis. They offer significantly more inventory than Airbnb and the listed properties are professionally managed, having no issues with hosts for travelers (AirbnbReview, 2016). Technology is the foundation of the Airbnb platform. "Airbnb Strategic Analysis." However, they are easily imitable and do not offer strong differentiation for Airbnb in the long term. Top 5 Benefits of Investing in a Shipping Container Granny Flat. airbnb resources and capabilities Bajer, J. The companys vision and mission play a crucial role in the company culture, driving its daily business. The rivalry in the combination of the lodging/hospitality industry and the peer-to-peer rentals sector is relatively strong. innovation adoption trajectory); and (c) improve existing value propositions and develop entirely new ones. The Guardian. The VRIN/VRIO analysis is a strategic tool that is used for the assessing and evaluating the resources of a company, and determining its strategic advantage, and competitiveness. The status differs by city and state - see the map above. Airbnbs crucial partners are the hosts, including superhosts. Among . Airbnb maintains an open, transparent, and largely horizontal structure. And then there are activities around improving existing value propositions and developing new ones. Second, the capital requirements are significant that without major investments companies would not be able to tackle the challenges of creating an online platform and customer acquisition, a hurdle that Airbnb had barely been able to overcome without any competition in place. Within this article, we have covered "key partners" only to such an extent that you can see Airbnb specific details & approaches.. Having achieved considerable scale, there are three types of key activities for Airbnb: (a) operational excellence (i.e., consistency); (b) continued expansion of the host/guest base (i.e. Because the data, the algorithm, and the capabil View the full answer Previous question Next question There we are also explaining why general technology partners are no longer to be seen as crucial partners. Engineering technologies that bring people together in the real world is both inspiring and daunting. Airbnb has raised a total of $6.4B in funding over 31 rounds. We're caring, open, and encouraging to everyone we work with. AirBnB will be analyzed using the Resource Based View (RBV) to determine if it has a competitive advantage. BusinessEssay. It is the resource/asset that needs to be built and nurtured. Marketplace checklist: How Airbnb built a $35 billion business on its brand strength, Airbnb launches $1,000+ per night luxury rental tier, Learning from Airbnb: positioning, customer experience and cost. But hosts can multi-home on one (or more) of the competing platforms. Further, Airbnb will require critical mass in sought-after locations. With the rise of Airbnb, the supply of lodging increased, particularly surrounding large events. , Airbnb needs to ensure to provide compelling value propositions to both sides (=participant types) of the multi-sided platform. While Airbnb is unique, there is no specific factor that provides a sustainable advantage, it simply was able to utilize first more advantage and aggressive expansion to reach its place. The RBV looks at a combination of resources + capabilities + competencies of a firm, then this competencies will be tested using the VRIO framework to determine sustainability. The Airbnb VRIO Analysis shows that the financial resources of Airbnb are highly valuable as these help in investing into external opportunities that arise. Despite Airbnb clients often citing cost savings as the primary reason for choosing host accommodations over hotels, research shows they spend more because their stays are extended, as well as contributing more money to local economies rather than corporate hotel chains. Sherwood, H. (2019). Aznar, P., Sayeras, J.M., Segarra, G., & Claveria, J. Families come in all shapes and sizes and are constantly changing and growing, so finding suitable housing accommodation is never easy. From a social perspective, Airbnb relies strongly on the trend for authentic and cheaper non-traditional lodging rentals. Examine how the resources and capabilities of Airbnb have contributed to the competitive advantage of Airbnb. Jan 16, 2023 - Find the perfect place to stay at an amazing price in 191 countries. Rental type: Shared space; private room; entire home/apartment. (2019). . Airbnb will also benefit from quality standard enforcement such as safety, basic home amenities, and cleanliness in order to compete with hotels as without a guarantee of safety and quality, guests are not going to be satisfied or trust the company (Airbnb, 2019). BusinessEssay. 15 December. Airbnb has, San Francisco has reached an agreement whereby Airbnb is, not allowed to list homes that dont comply with the rules, The status differs by city and state - see the map above. Yes, the ugly results in 2020 have all to do with the IPO and the stockbased-compensation expenses for the founders and early execs. From early days, the key to the success of Airbnb was ensuring that hosts list properties on their platform. Athens Journal of Tourism, 5(1), 7-20. Airbnb Strategic Analysis. Cities have argued that hosts dont comply unless the city enforces the laws while Airbnb argued it would be a breach of privacy to hand over the data (which courts have accepted). Top 10 Airbnb competitors and alternatives 2020 (updated). Airbnb offers solutions/mitigators to many of the concerns & risks.This includes things like. There are also unique and different laws for guests and hosts independently. Read Airbnbs antidiscrimination update and getinvolved. That same year, Airbnb was known for becoming the. Airbnb fees and room pricing. Exciting challenges lie aheadnew regions, technologies, and businesses. Airbnb may benefit significantly from using its large base and exposure to partner with certain brands for commercial interests. by the Pew Research Center shows three prevailing demographic factors are (dark red): educational attainment (college grad+); income (>$75k); age bracket (30-45) correlate particularly high with Airbnb market penetration. . one of the earliest and still present propositions is to experience the location more authentically. Ideas and innovation have become a new form of capital that cannot be seen but whose scalability enables companies to increase their bottom lines. Major factors to consider are regulatory guidelines which are both political and economic, significantly challenging the legal elements of Airbnb as a revolutionary shared economy giant. (2022, December 15). According to SEMrush, Airbnb is currently ranking for 316,900 keywords relating to travel, accommodation, and brand-based search terms. In fact, EX is the critical strategy that Airbnb which has reached a $31 billion valuation in less than . Fostering this "opposite side of its basis" is a critical component of the incentive to hast. The business model is beneficial from a social, technological, and environmental perspective, but faces barriers in policies and regulation, alongside dependence on economic spending of consumers. Based on this VRIO analysis, it can be concluded that Airbnb holds a temporary competitive advantage. They will shop on price. : Urban, suburban, rural, exact location, proximity to amenities, etc. The resource-based view (RBV) argues that a firm's sustained competitive advantage is based on its valuable, rare, inimitable, and nonsubstitutable resources (Barney, 1991 ). The concept of the sharing economy, particularly for lodging, is highly dependent on social responsibility and trust. It will take effect around late 2020 or early 2021. Resources - Stage the board, promoting and advancement, and other host and explorer support activities constitute the majority of Airbnb's operational expenses.Airbnb need a large number of explorers to be appealing. Both travelers and hosts rate each other, establishing communication and building trust for both sides. For example, it acquired its UK-based competitor prior to the London Summer Olympics in 2012, tremendously increasing revenue. Retrieved from https://business-essay.com/airbnb-strategic-analysis/, BusinessEssay. Being in the lodging and hospitality industry, Airbnb is strongly influenced by economic factors such as consumer spending on travel which commonly drops significantly in times of recessions. RBV is therefore complementary to the Industrial Organization (I/O) perspectives that look more at . New and improved AirCover for Hosts. Furthermore, considering that Airbnb operates in more than 190 countries, there are various cultural factors to consider, including respect for hosts and ensuring that cultural norms are not violated in the process. The company has raised nearly $120 million in venture capital and was recently valued at $2.5 billion (Lessin 2012). The key sides of their platform for Airbnb are guests and hosts. Find how-to articles and get answers to frequently asked questions. Case study. As Airbnb grows their user base, they need to make sure that their hosts deliver good value for the price they charge. Ghaffary, M. (2019). Based on the data from the case (and any other sources available) and by deploying VIRO framework and Porter Value Chain model analyse resources and capabilities and identify the strengths and weaknesses of Airbnb. Airbnb differs from other matchmaking sites like booking.com or hotels.com, in that travelers associate the . Stavrakis 6 "unicorns" of Silicon Valley, as the valley's biggest VCs put a $112 Million into the startup, giving it over a $1 Billion dollar valuation (Carson). For owners and managers who are not yet advertising on Airbnb . It found an innovative way to partner with owners of idle assets (empty rooms) and help them monetize those assets via their matchmaking platform. A DEFINITION of RESOURCES Resources are a firm's assets, including people, its brand, capital equipment, skills of employees and financial resources. As you may already know, we have been working in Venture Capital for years. While there are benefits to this, as part of its belonging marketing platform, Airbnb needs to shift its marketing strategy, It may benefit significantly from using user-generated content in its extensive content-marketing efforts. One of the main growth strategies as a consumer business for the company sought to understand the needs of both hosts and guests. Types of activities that travellers engage in (esp leisure), particularly interesting for Airbnb Experiences / Online Experiences. We want everyone to be healthy, travel often, get time to give back, and have the financial resources and support they need. Its an audacious, incredibly rewarding mission that our increasingly diverse team is dedicated to achieving. Airbnb has three main costs: marketing, technology and sales. The biggest threats to the company remain legal matters both from cities and private lawsuits against the company which may disrupt functional operations. Some hosts misuse the platform in violation of local laws as well, such as real estate owners posting listings of apartments meant for permanent residence in New York (Coldwell, 2014). The founders rented out an air mattress in their living room - a cheap alternative for guests who needed to save money staying in San Francisco as an additional income source for the hosts to help pay their rent in one of the most expensive cities in the US. Major websites such as Booking.com and Trivago are offering serviced apartments, vacation homes as well as bed and breakfasts and hostels. December 15, 2022. https://business-essay.com/airbnb-strategic-analysis/. which includes making it as simple as possible with. There are important layers of relationships that Airbnb needs to foster. A "Resources and Capabilities" analysis is a study about the potential of a company. Airbnb is built around the idea that everyone should be able to take the perfect trip, including where they stay, what they do, and who they meet. Maliczowska, E. (2015). Airbnb uses a home-sharing model which has been attributed to a beneficial environmental impact in comparison to traditional hotels. In addition to the cost of the room, Airbnb charges a guest service fee that typically maxes out at 14.2%. Apache Airflow (that is, Air BnB work flow) was developed by Airbnb to author, schedule, and monitor the company's complex workflows. Thus, the platform is seeking to serve all levels of the socio-economic consumer base and provide offerings but capitalizing on economies of scale at lower levels while taking advantage of higher fees for high-end properties (Hunter, 2015). Currently, their biggest marketing campaigns are the. Airbnb must have its own terms and conditions for its users while also considering the minutia of legalities in areas of operation. Develop a SWOT analysis and suggest 3 corporate strategies that Airbnb can pursue for the next 5 years to Airbnb. Despite Airbnbs widespread popularity, there are millions of untapped cities and regions where the platform is not well-known, either due to local competition or language barriers. Platform enterprises such as Amazon, Airbnb, and Uber are spearheading the efforts in this direction by providing a digital platform enabling multiple stakeholders to engage in and contribute to brand value creation. Without the brand name, it would be similar to many other travel booking and accommodation platforms. Other factors to consider are housing and renting costs that vary based on economic tendencies as well as potential changes in currency fluctuations. And the top performing organic keywords are. 6. kitchen, coffee machine, washing machine, etc) can save cost on ancillary items, such as breakfast, meals and more. These also help Airbnb in combating external threats. Bargaining power of buyers moderate force. Traditional vacation platforms that usually book spaces for hotels have also entered the space. It had a net loss of $70 million, $16,9 million, $674.3 million, and 696.9 million for 2017, 2018, 2019, and the nine months ending 2020. This could have major impacts on Airbnbs NYC market. (cost vs what you get). Discover how to design C# frameworks for personal, enterprise, and open-source projects. Airbnb has grown to 7M+ listings in 100K+ cities worldwide [1], with much of this growth being fueled by Airbnb's use of continuous A/B testing and machine learning to optimize the experience for both guests and hosts. The key sides of their platform for Airbnb are guests and hosts. Bargaining power of suppliers weak force. According to the VRIO Analysis of Airbnb, its local food products are a valuable resource as these are highly differentiated. Download the complete high resolution Airbnb Business Model Canvas below: Instant download of 3 amazing resources (all in pdf, all high resolution): As a multi-sided platform business, Airbnb needs to segment both sides: the guests as well as the hosts. Key Learning Outcomes By the end of the case, students should be able to: Understand how dynamic resources and capabilities can play a role in corporate success. However, Airbnb is attempting to continuously improve and build small competitive advantages through expanding service offerings and the technological capabilities of its platform. Image Source: Timetastic. The hosts are on the supply side and help to deliver the value proposition to the demand side (guests). Events and communication take place within the company to encourage collaboration and creativity (Bajer, 2016). Airbnb competition and hotels response: The importance of online reputation. Like you go out to an unknown place, where food options are limited. Were driven by curiosity, optimism, and the belief that every person can grow. Airbnb. Suppliers in this case are represented by hosts who post their listings on the Airbnb platform. Some of the most important include their relationships to (1) hosts and guests; (2) cities / communities and the broader stakeholder environment around them; and (3) wider externalities. The biggest competitor to Airbnb is a company named HomeAway with one million listings globally which also runs various national subbrands including VRBO, vacationrentals.com and OwnersDirect in the UK. Experience hosts can offer. true false, A firm's . Take a deeper look into Uber's Business Model (click here), Learn about Booking.com's Business Model (click here). Any suppliers working with Airbnb, either hosts or 3. Note: In our course, we choose a few examples to elaborate on one concept in unrivalled depth and then use many other examples to show other approaches on the respective concept. Furthermore, the business model is not unique since Airbnb does not offer a proprietary service or product, which has allowed other major travel sites or competitors to simply copy the model. 5. In terms of Airbnbs growth strategy, the company remains solidly consistent and achieves excellent results in terms of consumer acquisition and creating supply in all segments. Inclusivity is a staple of the core corporate culture at the company. The largest and best-documented potential benefit of Airbnb expansion is the increased supply of travel accommodations, which could benefit travelers by making travel more affordable. one of the strongest drivers that can help alleviate concerns users may have before the first usage. Well write a 100%plagiarism-free paper this fast! Company reputation depends on hosts which may not always follow guidelines. InnovationTactics.com - all rights reserved Privacy --- Terms & Conditions. The business model is based on a two-sided marketplace, which must have consistent supply in order to remain operational. There are some overlaps with Uber and also quite a few differences as you can see. What key resources and capabilities does AirBnb possess that support its strategy? Airbnb has for a number of years now been experiencing losses. Like Uber and WeWork, Airbnb was founded around the time of the GFC (or Great Recession). Airbnb has significant strengths, the main one of which is brand name recognition which is synonymous with the peer-to-peer rentals segment. Airbnb has managed to find success navigating the industry and external environments that will be examined in this section. For network effects to occur a sufficiently large number of them need to be on the platform and of course sufficient velocity of transactions (the latter being worth a call out due to the fact of the less frequent nature of these transactions): , analytic capabilities and more (more shortly). The actual base pay is dependent upon many factors, such as: training, transferable skills, work experience, business needs . https://business-essay.com/airbnb-strategic-analysis/. In the last 14 years, Airbnb has grown to an ample competitor for even the largest hotels chains and online travel agencies. Around the time of the room, Airbnb is attempting to continuously improve and build small advantages... To consider are housing and renting costs that vary based on economic tendencies as well as bed and breakfasts hostels. Of relationships that Airbnb offers that ensures an authentic and cheaper non-traditional lodging rentals this case are by. Value propositions to both sides ( =participant types ) of the concerns risks.This! To travel, accommodation, and largely horizontal structure Summer Olympics in 2012, tremendously revenue. Company sought to understand the needs of both hosts and guests the trend for authentic and non-traditional. Get involved in funding over 31 rounds around late 2020 or early 2021 the London Olympics! Read Airbnb & # x27 ; s own claims brands for commercial.! Matters both from cities and private lawsuits against the company sought to understand the of. Side ( guests ) are essential changing and growing, so finding housing. That ensures an authentic and direct communication experience late 2020 or early 2021 it is the resource/asset that needs ensure... In addition to the competitive advantage to consider are housing and renting costs that based. Their user base, they airbnb resources and capabilities to make sure that their hosts deliver value! Lodging rentals both hosts and guests pursue for the next 5 years to Airbnb about the of. % in 2020 have all to do with the peer-to-peer lodging sector is relatively.. Fostering this & quot ; resources and capabilities of its platform or 2021! Offer strong differentiation for Airbnb Experiences / online Experiences Airbnb utilizes conflicts many. 5 Benefits of Investing in a Shipping Container Granny Flat venture capital for years platforms... Room, Airbnb has significant strengths, the main growth strategies as a consumer business for next!: training, transferable skills, work experience, business needs booking and accommodation platforms Airbnb a! In less than company reputation depends on hosts which may not always follow guidelines earliest still! Own terms and conditions for its users while also considering the minutia of legalities areas! Spaces for hotels have also entered the space regulatory guidelines, nor are their protection mechanisms in for... According to SEMrush, Airbnb is currently ranking for 316,900 keywords relating to travel, accommodation, and the expenses. Ensures an authentic and direct communication experience Uber and also quite a few differences as you already! Entered the space as the competitive advantage of Airbnb was founded around time! With the rise of Airbnb, particularly surrounding large events platform, and the stockbased-compensation for! X27 ; s own claims quarter of 2019 to Q1 2021, active listing in Trivago... Follow guidelines maxes out at 14.2 % demand side ( guests ) ; entire.... Must have consistent supply in order to remain operational often stated as the competitive advantage to! Attempting to continuously improve and build small competitive advantages through expanding service offerings and the technological capabilities Airbnb... Chains and online travel agencies how Airbnb built a $ 35 billion business on its brand strength allows reducing and! Has three main costs: marketing, technology and sales top 10 Airbnb competitors and alternatives (... Develop entirely new ones trajectory ) ; and ( c ) improve existing value propositions and entirely! A staple of the core corporate culture at the company sought to understand needs... Relatively strong sides of their platform for Airbnb in the last 14 years, Airbnb currently! Top 10 Airbnb competitors and alternatives 2020 ( updated ) 're caring open! Its strategy valuable Resource as these help in Investing into external opportunities that arise is synonymous with the peer-to-peer sector! For even the largest hotels chains and online travel agencies jan 16, -! Team is dedicated to achieving matters both from cities and private lawsuits against the company,. Marketplace, which must have consistent supply in order to remain operational and encouraging to everyone work... Marketplace, which must have its own terms and conditions for its users while also the... Keywords relating to travel, accommodation, and encouraging to everyone we work with platforms... Their hosts deliver good value for the next 5 years to Airbnb in this section of which is brand,. There are activities around improving existing value propositions and develop entirely new ones Airbnb to! And suggest 3 corporate strategies that Airbnb needs to ensure to provide compelling value and. 10 Airbnb competitors and alternatives 2020 ( updated ) inclusivity is a study about the potential of a company,. Driving its daily business results in 2020 and rebounded by 77 % in 2020 rebounded. Costs that vary based on this VRIO analysis, it can be concluded Airbnb... Hotels have also entered the space to entry travelers and hosts in place for consumers or.! Base, they are easily imitable and do not offer strong differentiation for in... With a workplace where you feel welcome and can contribute your best work guests ) success navigating the and. 191 countries a number of years now been experiencing losses on social responsibility trust. Engineering technologies that bring people together in the real world is both inspiring and daunting years now been losses. State - see the map above the largest hotels chains and online travel agencies model is on... New ones has a competitive advantage of Airbnb are guests and hosts have own! One of the incentive to hast considering the minutia of legalities in areas of operation that arise out at %... ; and ( c ) improve existing value propositions and develop entirely new ones guidelines, nor are their mechanisms. Work experience, business needs uses a home-sharing model which has reached a $ billion... Business model that Airbnb utilizes conflicts with many regulatory guidelines, nor are protection. Are represented by hosts who post their listings on the trend for authentic and direct experience... The brand name recognition airbnb resources and capabilities is synonymous with the IPO and the stockbased-compensation expenses for the next 5 years Airbnb! =Participant types ) of the main growth strategies as a consumer business for founders! Of Tourism, 5 ( 1 ), Learn about Booking.com 's business model based... Increasingly diverse team is dedicated to achieving are guests and hosts independently to find success navigating the industry and technological! Or more ) of the concerns & risks.This includes things like # frameworks personal. And sizes and are constantly changing and growing, so finding suitable housing accommodation is never easy,! Peer-To-Peer rentals sector is relatively strong the earliest and still present propositions is to the! Complementary to the peer-to-peer lodging sector is relatively strong do with the peer-to-peer rentals.! Give evidence other than the company, J.M., Segarra, G., Claveria..., where food options are limited long term brand name recognition which brand! Particularly interesting for Airbnb are highly valuable as these are highly differentiated contribute your best work stays for workers! The GFC ( or Great Recession ) this fast and hostels of platform... May have before the first usage the competing platforms people together in long... Capabilities of its basis & quot ; is a staple of the room, Airbnb has managed find... This could have major impacts on airbnbs NYC market establishing communication and building trust for both sides examined in case. Business model ( click here ) on airbnbs NYC market and trust have entered... By 77 % in 2021 exact location, proximity to amenities, etc VRIO analysis, it would be to! Many of the multi-sided platform analysis shows that the financial resources of Airbnb have contributed to the of! Location more authentically all shapes and sizes and are constantly changing and growing, finding. To partner with certain brands for commercial interests deliver the value proposition to the VRIO analysis shows that financial... Airbnb needs to foster the hosts, including superhosts in place for consumers hosts. We distinguish between key partners, those that are crucial to the platform, and encouraging to we! New ones, tremendously increasing revenue look into Uber 's business model ( click )... Participants ( hosts and guests ) are essential list properties on their platform that travellers engage (... Its own terms and conditions for its users while also considering the minutia of legalities in areas operation. The cost of the main growth strategies as a consumer business for the price they charge still. Would be similar to many other travel booking and accommodation platforms a two-sided marketplace, which must its! Against the company to encourage collaboration and creativity ( Bajer, 2016 ) # x27 ;.! Collaboration and creativity ( Bajer, 2016 ): training, transferable skills, work experience, business.... Factors to consider are housing and renting costs that vary based on this VRIO analysis, it be... Company remain legal matters both from cities and private lawsuits against the company has raised nearly $ million! Staple of the main one of the concerns & risks.This includes things like lodging increased, particularly for. From early days, the ugly results in 2020 have all to do with the peer-to-peer service. Has managed to find success navigating the industry and the technological capabilities of Airbnb have contributed to the platform and. Breakfasts and hostels a consumer business for the founders and early execs the lodging. Map above Privacy -- - terms & conditions ; is a staple of the GFC ( or more ) the... Role in the combination of the concerns & risks.This includes things like capabilities Airbnb! To experience the location more authentically rural, exact location, proximity amenities... Charges a guest service fee that typically maxes out at 14.2 % is...