Wednesday, August 5, 2015

ResortShare Discusses the Disruption in the Travel Industry and its Shift towards the Sharing Economy

There’s a new economy in town – the sharing economy – which has made a splash within the travel industry. We have now entered an era known as collaborative consumption, where owners rent out an asset to a stranger using these disruptive peer-to-peer services driven by some of the most inventive minds of our day. Travelers now have endless options that are not limited to hotel rooms. 

ResortShare is one of these sharing platforms revolutionizing the sharing economy by providing the resources, education and tools for the vast majority of timeshare owners to rent their properties and connect with millions of eager vacationers around the world. Now at similar price points, the single-roomed hotel reservation is in competition with unused timeshares, multi-roomed condos, lakeside homes and even castles.

The hotel industry is already beginning to feel the effects. Recently the RevPAR, otherwise known as “revenue per available room,” declined abruptly in New York City alone. At the same time, the sharing economy is not just benefiting travelers, but owners with extra space and unused timeshares to rent out can become a virtual hotelier.

“We have entered an entirely new economy within the travel industry, driven less by hotel chains and more by people,” said Jay Yadon, co-founder and CEO of ResortShare. “People will always love their hotel lobby bars, daily maid service and in-room dining. The market for hotels will still exist, but now hotels suddenly have to share this market with some pretty threatening competition. It is definitely a very exciting time to be a part of this new sharing economy that not only brings people together, but effectively gets the most out of property owners’ time so that all parties profit.”

With the freedom to choose where and how to vacation, collaborative consumption will continue to grow at an astounding rate and will only excel as time goes by. Millennials are paving a new landscape and those born into this generation will piggyback on it, make it better and more effective, and the cycle will continue. With the right applications, knowledge and advice, the vacationing process will become more personal, more collaborative and even more thrilling with the vast amount of options now available – open to more than just the standard hotel room.

For timeshare owners looking to get the most out of their property, ResortShare is a valuable resource, opening the door to the sharing economy and renting out their unused time to offset costs. By maximizing ownership, ResortShare gives full control back to the owner so that no time is wasted and more memorable moments can be made. For more information on ResortShare and its education and resources, please visit www.resortshare.com.

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