Considering that the Global Business Travel Association estimates the American business travel industry alone is worth over $300 billion, the travel sharing economy is being perceived as quite a threat. However, not all major hotel chains are out to shut down competitors, as the Hyatt Regency London has proven in a partnership with Onefinestay, a start-up that lets upscale homeowners temporarily rent out their properties.
The collaboration between the five-star Hyatt Regency London's The Churchill and Onefinestay allows travelers much more flexibility. For instance, Onefinestay guests en route to London have the option to store their bags or freshen up at one of the hotel's guest rooms while waiting for a Onefinestay property to become available for check-in.
Since those who travel for business often occupy hotels for an average of 20 to 100 nights on average per year, this is set to provide guests with more options without taking away business from either company.