October 2016

Those who were sure that renting other people’s homes would never catch on, have just been proven wrong. In May, a study from Juniper Research showed that “sharing economy” revenues were set to triple from US$6.4 billion to US$20.4 billion globally by 2020. For the first time, hotels and serviced apartment companies are concerned about competition from peer-to-peer rentals arranged through companies such as Airbnb and Onefinestay.

In the past 18 months or so, hundreds of companies have signed up to Airbnb’s Business Travel programme – these include Google, audio distribution giant SoundCloud and cloud communications company Twilio. Last summer, after a year of 700 per cent growth, Airbnb launched a dedicated self-service portal – airbnb.com/business-travel. It offers a suite of tools to make it easier for corporates to make bookings, create itineraries and track expenses, as well as fulfil their duty of care responsibilities and in-house travel policies. Follow our article on sharing economy for details. Enjoy your reading.

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