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The rise of the sharing economy: The competitive response of traditional accommodations to online hospitality platforms; A case study of Airbnb in Cape Town

Van de Vyvere, Victoria
(2017)

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VandeVyvere_78551500_2017_Annexes.pdf
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Details

Supervisors
Cerrada Cristia, Karine ; Lejeune, Christophe
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion
Abstract
The global phenomenon of the sharing economy has undergone significant growth since the economic crisis in 2008. Although sharing has always been around us, the emergence of the 'Sharing 2.0' has been driven by the rise of Internet and technological advances, the current economic context as well as today’s environmental pressures with the values’ shifts they entail. Literature on the topic reveals that this phenomenon has resulted in a wave of mass adoption of sharing practices, the advocates being mainly born in the late 20th century. Note that the benefits are numerous, ranging from job creation and work flexibility to transparency of business and environmental benefits through better resource utilization. On the other hand, critics argue that this 'movement' has turned into a profitable type of business model, acting as a disruptive force on many levels. While the benefits are numerous, the literature shows that many shortcomings of the sharing economy are still to be addressed. Questions regarding the fairness towards incumbent businesses and users or the government's role and responsibilities in overseeing this phenomenon arise. Others dispute whether or not the sharing economy is a new form of capitalism and condemn the presumed associated greenwashing. In this study, the impact of Airbnb on incumbent businesses in Cape Town, namely the competitive response from traditional accommodations to online hospitality platforms such as Airbnb is analyzed. Does Airbnb compete with traditional accommodations in Cape Town? What are Airbnb's strengths and what is it about Airbnb that appeals to customers? What can traditional accommodations implement to remain competitive in the future? Attempts to provide a response to such questions will be made in the practical part of this study.