1,308
Views
7
CrossRef citations to date
0
Altmetric
Articles

The impact of Airbnb on the economic performance of independent hotels: an empirical investigation of the moderating effects

ORCID Icon, ORCID Icon, ORCID Icon & ORCID Icon
Pages 3534-3564 | Received 01 Oct 2019, Accepted 30 Oct 2020, Published online: 25 Nov 2020

References

  • Airbnb. (2019). Airbnb newsroom. https://news.airbnb.com/about-us/
  • Akbar, Y. H., & Tracogna, A. (2018). The sharing economy and the future of the hotel industry: Transaction cost theory and platform economics. International Journal of Hospitality Management, 71(October 2017), 91–101. https://doi.org/10.1016/j.ijhm.2017.12.004
  • Anderson, E. W., & Sullivan, M. W. (1993). The antecedents and consequences of customer satisfaction for firms. Marketing Science, 12(2), 125–143. https://doi.org/10.1287/mksc.12.2.125
  • Aznar, J. P., Sayeras, J. M., Rocafort, A., & Galiana, J. (2017). The irruption of Airbnb and its effects on hotel profitability: An analysis of Barcelona’s hotel sector. Intangible Capital, 13(1), 147–159. https://doi.org/10.3926/ic.921
  • Barney, J. B. (1986). Strategic factor markets: Expectations, luck, and business strategy. Management Science, 32(10), 1231–1241. https://doi.org/10.1287/mnsc.32.10.1231
  • Baum, J. A. C., & Haveman, H. A. (1997). Love thy neighbor? Differentiation and agglomeration in the Manhattan hotel industry, 1898-1990. Administrative Science Quarterly, 42(2), 304–338. https://doi.org/10.2307/2393922
  • Becerra, M., Santaló, J., & Silva, R. (2013). Being better vs. being different: Differentiation, competition, and pricing strategies in the Spanish hotel industry. Tourism Management, 34, 71–79. https://doi.org/10.1016/j.tourman.2012.03.014
  • Blal, I., Singal, M., & Templin, J. (2018). Airbnb’s effect on hotel sales growth. International Journal of Hospitality Management, 73(February), 85–92. https://doi.org/10.1016/j.ijhm.2018.02.006
  • Brynjolfsson, E., McAfee, A., Sorell, M., & Zhu, F. (2008). Scale without mass: Business process replication and industry dynamics. SSRN Electronic Journal, https://doi.org/10.2139/ssrn.980568
  • Chan Kim, W., & Mauborgne, R. (2005). Blue ocean strategy: How to create uncontested market space and make the competition irrelevant (Harvard Bu). Harvard Business School Press. https://doi.org/10.1016/j.lrp.2008.02.003.
  • Choi, K.-H., Jung, J., Ryu, S., Kim, S.-D., & Yoon, S.-M. (2015). The relationship between Airbnb and the hotel revenue: In the case of Korea. Indian Journal of Science and Technology, 8, 26. https://doi.org/10.17485/ijst/2015/v8i26/81013
  • Christensen, C. M. (2013). The innovator’s dilemma: When new technologies cause great firms to fail. Harvard Business Review Press.
  • Christensen, C. M., & Raynor, M. E. (2013). The innovator’s solution: Creating and sustaining successful growth. Harvard Business Review Press.
  • Chu, R. K. S., & Choi, T. (2000). An importance-performance analysis of hotel selection factors in the Hong Kong hotel industry: A comparison of business and leisure travellers. Tourism Management, 21(4), 363–377. https://doi.org/10.1016/S0261-5177(99)00070-9
  • Davies, A., & Lahiri, K. (1995). A new framework for analyzing survey forecasts using three-dimensional panel data. Journal of Econometrics, 68(1), 205–227. https://doi.org/10.1016/0304-4076(94)01649-K
  • Diaz-Parra, I., & Jover, J. (2020). Overtourism, place alienation and the right to the city: Insights from the historic centre of Seville, Spain. Journal of Sustainable Tourism, 0(0), 1–18. https://doi.org/10.1080/09669582.2020.1717504
  • Dogru, T., Mody, M., & Suess, C. (2019). Adding evidence to the debate : Quantifying Airbnb ‘ s disruptive impact on ten key hotel markets. Tourism Management, 72(June 2018), 27–38. https://doi.org/10.1016/j.tourman.2018.11.008
  • Dolnicar, S., & Otter, T. (2003, January). Which hotel attributes matter ? A review of previous and a framework for future research. Proceedings of the 9th annual conference of the Asia Pacific Tourism Association (APTA), (pp 176–188). http://ro.uow.edu.au/commpapers/268
  • Eckert, R. (2019). Disruptive business imitation – Neun Beschleuniger zum kreativen Imitieren disruptiver Geschäftsmodelle. Springer-Verlag, 2018. doi:10.1007/978-3-658-24702-7_3.
  • Egan, D. J., & Nield, K. (2000). Towards a theory of intraurban hotel location. Urban Studies, 37(3), 611–621. https://doi.org/10.1080/0042098002140
  • Ert, E., & Fleischer, A. (2019). The evolution of trust in Airbnb: A case of home rental. Annals of Tourism Research, 75, 279–287. https://doi.org/10.1016/j.annals.2019.01.004
  • Forgacs, G., & Dimanche, F. (2016). Revenue challenges for hotels in the sharing economy: Facing the Airbnb menace. Journal of Revenue and Pricing Management, 15(6), 509–515. https://doi.org/10.1057/s41272-016-0071-z
  • Frei, F. X. (2006). Breaking the trade-off between efficiency and service. Harvard Business Review, 84, 11. https://hbr.org/2006/11/breaking-the-trade-off-between-efficiency-and-service.
  • Garrido-Moreno, A., García-Morales, V. J., Lockett, N., & King, S. (2018). The missing link: Creating value with social media use in hotels. International Journal of Hospitality Management, 75, 94–104. https://doi.org/10.1016/j.ijhm.2018.03.008
  • Ginindza, S., & Tichaawa, T. M. (2017). The impact of sharing accommodation on the hotel occupancy rate in the kingdom of Swaziland. Current Issues in Tourism, 0(0), 1–17. https://doi.org/10.1080/13683500.2017.1408061
  • Glancey, K., & Pettigrew, M. (1997). Entrepreneurship in the small hotel sector. International Journal of Contemporary Hospitality Management, 9(1), 21–24. https://doi.org/10.1108/09596119710157540
  • González-Pérez, J. M. (2020). The dispute over tourist cities. Tourism gentrification in the historic centre of Palma (Majorca, Spain). Tourism Geographies, 22(1), 171–191. https://doi.org/10.1080/14616688.2019.1586986
  • Greene, W. H. (2003). Econometric analysis (5th editio). Prentice Hall.
  • Guttentag, D. (2015). Airbnb: Disruptive innovation and the rise of an informal tourism accommodation sector. Current Issues in Tourism, 18(12), 1192–1217. https://doi.org/10.1080/13683500.2013.827159
  • Guttentag, D., & Smith, S. L. J. (2017). Assessing Airbnb as a disruptive innovation relative to hotelsSubstitution and comparative performance expectations. International Journal of Hospitality Management, 64, 1–10. https://doi.org/10.1016/j.ijhm.2017.02.003
  • Hamel, G. (2002). Leading the revolution: How to thrive in turbulent times by making innovation a way of life. Harvard Business School Press.
  • Hansen Henten, A., & Maria Windekilde, I. (2016). Transaction costs and the sharing economy. INFO, 18(1), 1–15. https://doi.org/10.1108/info-09-2015-0044
  • Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251. https://doi.org/10.2307/1913827
  • Hollenbeck, B. (2018). Online reputation mechanisms and the decreasing value of chain affiliation. Journal of Marketing Research, 55(5), 636–654. https://doi.org/10.1177/0022243718802844
  • Kandampully, J. (2006). The new customer-centred business model for the hospitality industry. International Journal of Contemporary Hospitality Management, 18(3), 173–187. https://doi.org/10.1108/09596110610658599
  • Karimi, J., & Walter, Z. (2015). The role of dynamic capabilities in responding to digital disruption: A factor-based study of the newspaper industry. Journal of Management Information Systems, 32(1), 39–81. https://doi.org/10.1080/07421222.2015.1029380
  • Kivell, P. (1993). Land and the city. Routledge.
  • Koh, E., & King, B. (2017). Accommodating the sharing revolution: A qualitative evaluation of the impact of Airbnb on Singapore’s budget hotels. Tourism Recreation Research, 42(4), 409–421. https://doi.org/10.1080/02508281.2017.1314413
  • Kotas, R. (1982). The European hotel: Methodology for analysis of financial operations and identification of appropriate business strategy. International Journal of Hospitality Management, 1(2), 79–84. https://doi.org/10.1016/0278-4319(82)90037-8
  • Lado-Sestayo, R., Vivel-Búa, M., & Otero-González, L. (2020). Connection between hotel location and profitability drivers: An analysis of location-specific effects. Current Issues in Tourism, 23(4), 452–469. https://doi.org/10.1080/13683500.2018.1538203
  • Lee, S. K., & Jang, S. C. S. (2012). Re-examining the overcapacity of the US lodging industry. International Journal of Hospitality Management, 31(4), 1050–1058. https://doi.org/10.1016/j.ijhm.2012.01.001
  • Lehto, X. Y., Park, O. J., & Gordon, S. E. (2015). Migrating to new hotels: A comparison of antecedents of business and leisure travelers’ hotel switching intentions. Journal of Quality Assurance in Hospitality and Tourism, 16(3), 235–258. https://doi.org/10.1080/1528008X.2014.925787
  • Li, H., & Srinivasan, K. (2019, June). Competitive dynamics in the sharing economy: An analysis in the context of Airbnb and hotels. Marketing Science, 38(3), 365–391. https://doi.org/10.1287/mksc.2018.1143
  • Litvin, S. W., Goldsmith, R. E., & Pan, B. (2008). Electronic word-of-mouth in hospitality and tourism management. Tourism Management, 29(3), 458–468. https://doi.org/10.1016/j.tourman.2007.05.011
  • Masiero, L., Yang, Y., & Qiu, R. T. R. (2019). Understanding hotel location preference of customers: Comparing random utility and random regret decision rules. Tourism Management, 73(April 2018), 83–93. https://doi.org/10.1016/j.tourman.2018.12.002
  • Mccleary, K. W., Weaver, P. A., & Hutchinson, J. C. (1993). Hotel selection factors as they relate to business travel situations. Journal of Travel Research, 32(2), 42–48. https://doi.org/10.1177/004728759303200206
  • Mody, M., Suess, C., & Lehto, X. (2017). The accommodation experiencescape: A comparative assessment of hotels and Airbnb. International Journal of Contemporary Hospitality Management, 29(9), 2377–2404. https://doi.org/10.1108/IJCHM-09-2016-0501
  • Montgomery, C. A., & Wernerfelt, B. (1988). Diversification, Ricardian Rents, and Tobin’s q. The RAND Journal of Economics, 19(4), 623–632. https://doi.org/10.2307/2555461
  • Oskam, J., van der Rest, J. P., & Telkamp, B. (2018). What’s mine is yours—but at what price? Dynamic pricing behavior as an indicator of Airbnb host professionalization Journal of Revenue and Pricing Management, 17(5), 311–328. https://doi.org/10.1057/s41272-018-00157-3
  • Paiva, C. J. H. d., & Vasconcelos, P. Y. (2019, January 1). The dynamic capabilities of AccorHotels in Brazil. Journal of Hospitality and Tourism Insights, 3(2), 253–269. https://doi.org/10.1108/JHTI-03-2019-0034
  • Parker, G. G., Van Alstyne, M. W., & Choudary, S. P. (2016). Platform revolution: How networked markets are transforming the economy and how to make them work for you. W. W. Norton.
  • Pikkemaat, B., & Peters, M. (2006). Towards the measurement of innovation—A pilot study in the small and medium sized hotel industry. Journal of Quality Assurance in Hospitality & Tourism, 6(3–4), 89–112. https://doi.org/10.1300/J162v06n03_06
  • Pine II, B. J., & Gilmore, J. H. (1998). Welcome to the experience economy. Harvard Business Review, (July-August). https://hbr.org/1998/07/welcome-to-the-experience-economy
  • Prieto-Rodriguez, J., & Gonzalez-Díaz, M. (2008). Is there an economic rent for island hotels? Tourism Economics, 14(1), 131–154. https://doi.org/10.5367/000000008783554839
  • Purcell, M. (2014). Possible worlds: Henri lefebvre and the right to the city. Journal of Urban Affairs, 36(1), 141–154. https://doi.org/10.1111/juaf.12034
  • Qian, G., & Li, L. (2003). Profitability of small- and medium-sized enterprises in high-tech industries: The case of the biotechnology industry. Strategic Management Journal, 24(9), 881–887. https://doi.org/10.1002/smj.344
  • Quattrone, G., Greatorex, A., Quercia, D., Capra, L., & Musolesi, M. (2018). Analyzing and predicting the spatial penetration of Airbnb in U. S. cities. EPJ Data Science, 7(1), 1. https://doi.org/10.1140/epjds/s13688-018-0156-6
  • Raguseo, E., & Vitari, C. (2017). The effect of brand on the impact of e-WOM on hotels’ financial performance. International Journal of Electronic Commerce, 21(2), 249–269. https://doi.org/10.1080/10864415.2016.1234287
  • Roma, P., Panniello, U., & Lo Nigro, G. (2019). Sharing economy and incumbents’ pricing strategy: The impact of Airbnb on the hospitality industry. International Journal of Production Economics, 214, 17–29. https://doi.org/10.1016/J.IJPE.2019.03.023
  • Russo, A. P. (2002). The “vicious circle” of tourism development in heritage cities. Annals of Tourism Research, 29(1), 165–182. https://doi.org/10.1016/S0160-7383(01)00029-9
  • Sainaghi, R. (2011). RevPAR determinants of individual hotels: Evidences from Milan. International Journal of Contemporary Hospitality Management, 23(3), 297–311. https://doi.org/10.1108/09596111111122497
  • Schoenmueller, V., Netzer, O., & Stahl, F. (2018). The extreme distribution of online reviews: Prevalence, drivers and implications. SSRN Electronic Journal (February), 1–62. https://doi.org/10.2139/ssrn.3100217
  • Schuckert, M., Liu, X., & Law, R. (2015). Hospitality and tourism online reviews: Recent trends and future directions. Journal of Travel and Tourism Marketing, 32(5), 608–621. https://doi.org/10.1080/10548408.2014.933154
  • Sequera, J., & Nofre, J. (2018). Shaken, not stirred. City, 22(5–6), 843–855. https://doi.org/10.1080/13604813.2018.1548819
  • Shoval, N. (2006). The geography of hotels in cities: An empirical validation of a forgotten model. Tourism Geographies, 8(1), 56–75. https://doi.org/10.1080/14616680500392499
  • Stinchcombe, A. L. (1965). Social structure and organizations. In Handbook of Organizations (James G. March, pp. 142–193). Routledge, Taylor & Francis.
  • Sun, L., Wang, S., Liu, S., Yao, L., Luo, W., & Shukla, A. (2018). A completive research on the feasibility and adaptation of shared transportation in mega-cities – A case study in Beijing. Applied Energy, 230(May), 1014–1033. https://doi.org/10.1016/j.apenergy.2018.09.080
  • Teece, D. J. (2007). Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319–1350. https://doi.org/10.1002/smj.640
  • Teece, D. J. (2014). The foundations of enterprise performance: Dynamic and ordinary capabilities in an(economic) theory of firms. The Academy of Management Perspectives, 28(4), 328–352. https://doi.org/10.5465/amp.2013.0116
  • Terhorst, P., & Erkuş-Özturk, H. (2011). Scaling, territoriality, and networks of a tourism place. Anatolia, 22(2), 168–183. https://doi.org/10.1080/13032917.2011.597932
  • TOPHOTELNEWS. (2017). Airbnb now has more room listings than the top 5 hotel brands combined. https://tophotel.news/airbnb-now-has-more-room-listings-than-the-top-5-hotel-brands-combined/
  • TUI. (2018). Market size of the global hotel industry from 2014 to 2018 (in billion U.S. dollars) [Graph]. https://www.statista.com/statistics/247264/total-revenue-of-the-global-hotel-industry/
  • Tussyadiah, I. P., & Pesonen, J. (2016). Impacts of peer-to-peer accommodation use on travel patterns. Journal of Travel Research, 55(8), 1022–1040. https://doi.org/10.1177/0047287515608505
  • Weiermair, K. (2006). Product improvement or innovation: What is the key to success in tourism? In Innovation and growth in tourism. OECD Publishing. https://doi.org/10.1787/9789264025028-en.
  • Weiner, N., & Mahoney, T. A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3), 453–470. https://doi.org/10.5465/255568
  • Winter, S. G. (2003). Understanding dynamic capabilities. Strategic Management Journal, 24(10 SPEC ISS.), 991–995. https://doi.org/10.1002/smj.318
  • Wolf, M. J. (1999). The entertainment economy: How mega-media forces are transforming our lives. Times Books. https://books.google.it/books?id=qFgUX17jpTQC
  • WTTC. (2018). Direct and total contribution of travel and tourism to GDP from 2006 to 2017 (in billion U.S. dollars) [Graph]. https://www.statista.com/statistics/233223/travel-and-tourism–total-economic-contribution-worldwide/
  • Xie, K. L., & Kwok, L. (2017). The effects of Airbnb’s price positioning on hotel performance. International Journal of Hospitality Management, 67(December 2016), 174–184. https://doi.org/10.1016/j.ijhm.2017.08.011
  • Yang, Y., Luo, H., & Law, R. (2014). Theoretical, empirical, and operational models in hotel location research. International Journal of Hospitality Management, 36, 209–220. https://doi.org/10.1016/j.ijhm.2013.09.004
  • Yokeno, N. (1968). La Localisation de l’industrie touristique: application de l’analyse de Thunen-Weber. Cahiers Du Tourisme, 3(9), 1–36.
  • Zervas, G., Proserpio, D., & Byers, J. (2017). The rise of the sharing economy: Estimating the impact of Airbnb on the hotel industry. Journal of Marketing Research, 54(5), 687–705. https://doi.org/10.1509/jmr.15.0204
  • Zhang, Z., & Chen, R. J. C. (2019). Assessing Airbnb logistics in cities: Geographic information system and convenience theory. Sustainability (Switzerland), 11(9), 1–11. https://doi.org/10.3390/su11092462
  • Zhang, Z., Ye, Q., & Law, R. (2011). Determinants of hotel room price: An exploration of travelers’ hierarchy of accommodation needs. International Journal of Contemporary Hospitality Management, 23(7), 972–981. https://doi.org/10.1108/09596111111167551

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.