Rooms with new views: Hotels try their hand in home-sharing
Hotel companies are jumping into the home-sharing market — with mixed success.
Marriott is expanding its six-month-old home-sharing pilot in London and will now offer rentals in Lisbon, Paris and Rome. Choice Hotels and AccorHotels are also offering shared homes.
Meanwhile, Hyatt is leaving its money-losing partnership with luxury home rental company Oasis. Hyatt wrote off its $22 million investment in Oasis earlier this summer. Now vacation rental management company Vacasa is buying Oasis.
Home-sharing challenges hotels’ business models. It’s cheaper to clean rooms in a hotel than to clean whole homes around a city, for example.
But analysts say hotels are wise to experiment and not cede the market to Airbnb and others.