In 2008 Brian Chesky and Joe Gebbia launched their website, ‘AirBed&Breakfast’, universally known as ‘Airbnb’. The concept originated from their idea of using an ‘airbed’ to provide ‘bed and breakfast’ for guests hosted in private homes with the intention of receiving warmer local hospitality than in hotels, and at a cheaper price.
In less than a decade, ‘AirBed&Breakfast’ or ‘Airbnb’ has become a worldwide phenomenon, resulting in a significant shift from the original model, to what has now evolved. The private hosted room model has expanded to include unoccupied homes and units, minus the hosting experience. It has even extended to people buying property for investment, as Airbnb listings. In some parts of the world long term tenants are being evicted to convert properties for this market. This has fundamentally changed the model, dividing it into two distinct types, contrasted in the table below.
This metamorphosis of the Airbnb model is causing obstacles and barriers for people to gain access to tenancy worldwide. Many major cities have responded to this with unique local responses.
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