Research on Business Model of Shared Hotel Under the Background of "Internet of Thing" Taking the Global Accommodation Exchange as an Example

Abstract

As we know, the outbreak of the COVID-19 Pandemic has led to severe challenges for the hotel industry. According to iMedia Data Center, the average occupancy rate of China's hotel industry in 2019 was only about 52%. A large number of hotel rooms are vacant, which presents an opportunity to develop the shared hotel model. Global accommodation exchange is a comprehensive sharing hotel platform developed by Guizhou Internet of Everything Technology Co., LTD., which integrates instant sharing of tourism, business travel, and vacation. It will be released online in Guizhou International Ecological Conference Center on January 15, 2020. The platform deeply integrates the spare room of the hotel with the Internet. Through its unique positioning and perspective, it provides users with high-quality shared hotel travel services and transmits the economic consumption attitude of the new era. The nine-element model of the business model canvas is used to analyze the global accommodation exchange business model. The canvas of a business model is composed of nine patterns: customer segmentation, value proposition, channel access, customer relationship, revenue source, Key resource, Key activity, Key partner, and cost structure.

Through analysis, I concluded four recommendations for sustainable global accommodation exchange development: 1. Expand the profit model; 2. Expand promotion Channels; 3. Improve user satisfaction; and 4. Establish and Improve the Credit Mechanism. Relying on the development of "Internet +", sharing economy is constantly reforming traditional industries and has become the mainstream of future economic development. Global accommodation shows the perfect combination of "Internet + sharing + hotel" to consumers, breaks through the economic development of the hotel industry, and provides a new development model for the traditional hotel industry. The sharing economy is developing rapidly, but in the process of development, but these developments may not be sustained. Therefore, one important research opportunity is studying how to improve the business model of hotel sharing to promote its sustainable development. The global hotel sharing platform is still very young. To stand out in the sharing economy industry where all flowers bloom, it needs to constantly improve its business model, strengthen market exploration, and innovate its profit model under the general trend of the sharing economy.