Adapting to Change: It’s Not About How Big A Fish You Are

The industry is changing and more and more it is becoming evident that it is not about how big the company is, it is about whether the company can adapt to the changes that impact the business. Take startups such as Airbnb for example. Is the Hotel Industry being disrupted by startups such as Airbnb? Yes, according to an article in the Time. Airbnb is definitely growing with listings over 800,000 homes or rooms and attracting more than 20 million guests but they are also under fire for not paying certain taxes and violating certain rules per the article. Nevertheless, the effect to the hotel industry seems to be due to guests perception of: 1) Affordable accommodations 2) Personalized Hotel Pricing 3) Cultural Experiences 4) Lodgings Suited to Needs 5) Last-Minute Options 6) Personal Connections. With these perceptions, it is more important than ever for Hotel partners to acknowledge the change, the impact of change and how to adapt to inevitable change to thrive.

Click here to read the article: http://time.com/3842390/startup-impact-hotel-industry/