Towards a More Sophisticated Understanding of the Relationship between Events, Peer-To-Peer Accommodations, and Revenue Management
MetadataShow full item record
This study sought to understand if peer-to-peer (P2P) accommodations could be used by mid-level cities as a lodging solution for meetings, conventions, and citywide events. While cities like Rio de Janeiro have partnered with P2P accommodation websites for mega-events, there was an unclear understanding as to what influenced the demand and supply for this lodging option for meetings, conventions, and events. The current study used choice theory to investigate the willingness-to-stay and willingness-to-pay of meeting and convention attendees for P2P accommodations. For the second study, the researcher studied the applicability of established motivations for traditional P2P accommodation owners to event P2P accommodation owners and added the dynamic of civic pride. Then, it used commitment-trust theory to examine the motivations of P2P accommodation owners to re-enter the market after renting out their accommodation for a single event. There is a subsection of meeting and convention attendees who would choose a P2P accommodation as their first choice for a meeting or convention. More guests choose a P2P accommodation for leisure meetings and conventions than for business meetings and conventions. Participants traveling alone were more likely to choose a hotel than a P2P accommodation, and those motivated by utilitarian aspects like price were more likely to choose a P2P accommodation. For those participants who indicated they would choose a P2P accommodation, location, number of reviews, and star rating had the most significant impact on choice of accommodation and willingness-to-pay. This indicates that the personal utility these guests are maximizing are location and service quality. For event P2P accommodation owners, similar motivations for re-entering the market were significant as they were for traditional P2P accommodation owners. Financial reward, social reward, sustainability, and communication were all found to have a positive, significant influence on the intention to re-enter the market. The lack of opportunistic behavior, a key concept in business-to-business relationships and an important component of the sharing economy, was not found to be significant for this group. The motivation of civic pride, new to this study for P2P accommodations and an established component of event literature, was found to have a significant influence on the intention to re-enter the market for future events. The mediating influence of relationship commitment was only significant as a partial mediator for sustainability. The lack of significance of relationship commitment as the mediator for financial reward and social reward may be due to the length of the relationship between the owner and the P2P accommodation website. Trust was not a significant mediator for sustainability, civic pride, communication, or opportunistic behavior. The concept of trust has been well-researched in P2P accommodations between the owner and guest, however this paper sought to explore trust between the owner and the P2P accommodation website. This study indicates that the component of trust between these two entities may not have the same influence as it does between the owner and host. Additionally, the commitment-trust theory may have a different impact on the relationship between the traditional owner and P2P accommodation website than it does for the event owner and P2P accommodation website. This study indicates that P2P accommodations can be mobilized by cities for meetings, conventions, and events. Cities hosting a large leisure meeting or convention (e.g., Comic Con) would find a higher utilization of P2P accommodations than those hosting business meetings and conventions, however a subsection of guests for both types of meetings and conventions will stay at a P2P accommodation. For cities looking to partner with P2P accommodation websites, they are advised that guests are looking for accommodations close to the meeting/convention venues as well as experienced owners with high star ratings. When looking to motivate owners to re-enter the market for a future event, there are owners motivated by financial reward, social reward, sustainability, civic pride, and communication between the owner and the website. While perception of opportunistic behavior did not have a negative, significant impact, this may be due to the length of the relationship and both cities and P2P accommodation websites are cautioned to be mindful of the potential for a negative impact over time. While trust and relationship commitment did not have the mediating impact found in other business-to-business relationships, again the length of the relationship may have influence the mediating impact of these factors as the owners continue to participate in the market.