How the Sharing Economy Is Transforming the Short-term Rental Industry

The world of short-term rentals, Airbnb being Exhibit A, is barely the tip of the iceberg when it comes to how rapidly large-scale change is coming to the real estate and hotel businesses via the sharing economy. “Rather than buying or signing leases for a specific residence or office, people will one day have membership options with companies that guarantee space in any of their facilities worldwide –timeshares for the twenty-first century,” writes Peter L. Allen in this opinion piece. Allen is head of the outreach and public affairs department of Agoda.com, the Asia-based subsidiary of Booking Holding. He also notes that several other waves of transformation are on the way.