Airbnb took the world by storm by serving as a marketplace connecting travellers to people offering short-term accommodation in their homes. Nearly a decade after its formation, blowback against home-sharing is threatening to take the wind out of its sails.Brian Chesky and Joe Gebbia decided to rent out three air mattresses in their San Francisco apartment living room. There was a severe shortage of hotel rooms in town due to a convention.
The Southeast Asian budget hotel market is currently worth between US$15 million to US$20 million, according to reporting by The Edge Markets in 2017. However, the real beneficiaries of this market could be the booking platforms who redirect tourists to budget hotels that offer the best deals. Most booking platforms employ a standardised model, aggregating available rooms in hotels within a certain city and forming a network of available rooms across multiple cities.