PAUL JUBB State President President’s Report
Millions of guests, millions of hosts, billions of profits. Operates on trust. Is there a catch with Airbnb? Accommodation disruptor Airbnb has become a major player in the tourism and hospitality industry worldwide, catering to consumer appetite for speedy, streamlined digital interactions.
It only takes 10 minutes to sign up and list a rental property, hosts don’t have to use their real names or provide proof of identity. They don’t even have to own the property they’re listing. In fact, lack of external regulation is one of Airbnb’s hallmarks.
The sharing economy start-up has taken a substantial bite out of the traditional accommodation business, with people with all kinds of properties, from granny flats to houseboats, jumping on board. With 4 million listings worldwide – more than the major five hotel brands combined – in 191 countries, Airbnb is currently valued at $US31 billion.
Locally, the number of people using the platformhas increased 4000% in five years, according to The Australian, and a recent Deloitte report found Airbnb guests were contributing $1.6 billion to the Australian economy.
Hidden dangers? Because registering to offer ‘guests’ temporary lodgings is as easy as posting to any social media platform, many of these ‘hosts’ are unaware of a raft of issues they may face. These include: • Town planning limitations • Body corporate involvement • Lease agreements • Security concerns • Insurance cover
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Hospitality Review
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