Risk Management

Convene TV: Room Blocks and the Sharing Economy

In this short video, MGM Resorts International SVP Michael Dominguez, CHSE, discusses the advantages and disadvantages of home-sharing marketplaces like Airbnb.

Dominguez points out that the average length of stay at an Airbnb property is seven days, meaning that an Airbnb user isn’t a typical hotel guest. In a very real sense, Airbnb is competing with extended-stay properties, rather than typical meetings properties.

There are even some instances where Airbnb can be a novel solution for business-event strategists:
– Record levels of demand
– Major cities selling out of rooms
– Wanting to expand a meeting’s audience

There are also, however, duty of care concerns that must be considered when attendees are booking on Airbnb rather than at a contracted hotel. Some of these risks include:
– No security cameras
– No tracking
– Liability is uncertain

Convene Editors