For decades, the hotel industry has seen very
little innovation

Growth was driven by big demand, lack of options, and brand loyalty. Airbnb has taken
this static industry by storm with its simple ‘sharing economy’ model – an online service which enables hosts to rent out their homes
or spare bedrooms, creating a huge pool of characterful, low price accommodation for travellers.

Founded in 2008, today Airbnb has over 500,000 properties listed across
190 countries

This represents an army of small scale independent hoteliers, with fresh ideas and
an entirely personal relationship with their
visitors which hotels struggle to equal. Airbnb’s extensive reviewing system creates a level of transparency and openness (much desired by today’s consumer) which the major hotel brands just aren’t providing.

They’ve also been at pains to stand apart
from the stiff formality of these chains by
focusing their marketing on the three things travelers are looking for – location, service
and value – creating, for example, city neighborhood guides to reach out to young travelers looking to explore the world.

By creating disruptive new ways to
give travellers the experience they want, Airbnb has moved from start-up to billion dollar business in just five years, and is
soon expected to become the world’s
largest hotelier.