TY - JOUR
T1 - Substitution threat between Airbnb and hotels
T2 - Myth or reality?
AU - Sainaghi, Ruggero
AU - Baggio, Rodolfo
PY - 2020/7
Y1 - 2020/7
N2 - The rise of peer-to-peer accommodation platforms in the tourism and hospitality industry has created an interesting and growing debate around the threats of substitution between them and traditional hotels. Previous studies have provided contradictory findings. Here we address the issue by analyzing the degree of synchronization between the daily occupancy of hotels and that of Airbnb listings in Milan, Italy, over a period of four years. The findings show that the two series are widely desynchronized during the week, on workdays and trade-fair days, when hotels work prevalently within the business segment, and when Airbnb listings mainly accommodate leisure guests. By contrast, a partial synchronization (and therefore a potential substitution threat) is revealed during weekends and holidays.
AB - The rise of peer-to-peer accommodation platforms in the tourism and hospitality industry has created an interesting and growing debate around the threats of substitution between them and traditional hotels. Previous studies have provided contradictory findings. Here we address the issue by analyzing the degree of synchronization between the daily occupancy of hotels and that of Airbnb listings in Milan, Italy, over a period of four years. The findings show that the two series are widely desynchronized during the week, on workdays and trade-fair days, when hotels work prevalently within the business segment, and when Airbnb listings mainly accommodate leisure guests. By contrast, a partial synchronization (and therefore a potential substitution threat) is revealed during weekends and holidays.
KW - Airbnb
KW - Mutual information
KW - Peer-to-peer accommodation platforms
KW - Substitution threats
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U2 - 10.1016/j.annals.2020.102959
DO - 10.1016/j.annals.2020.102959
M3 - Article
AN - SCOPUS:85085349865
VL - 83
JO - Annals of Tourism Research
JF - Annals of Tourism Research
SN - 0160-7383
M1 - 102959
ER -