Big Name Companies Adapt to Collaborative Economy

Jeremiah Owyang, collaborative economy analyst By Robert J. Mullins Sr. Staff Writer CrowdFundBeat The rise of the collaborative economy has put some established companies into an “If you can’t beat ‘em, join ‘em” position in which they also have to offer their goods and services via a collaborative model. AirBNB, for instance, is a collaborative business in which people looking for lodging in a particular city go online and find individuals who will let the travelers stay in their home or apartment because they will be away. AirBNB, then, is in direct competition with hotel chains, but at least one of them is responding. Marriott Hotels recently partnered with a company called LiquidSpace to set up a service called Workspace on Demand. While not offering sleeping rooms, the service does let people book conference rooms at Marriotts in major cities such as New York, Washington, D.C., Chicago and San Francisco. Jeremiah Owyang, an analyst who follows the collaborative economy, says the Marriott program is in line with other collaborative economy models in which idle products, services or other resources can be more efficiently put to use. “LiquidSpace enables corporations to share their unused office space on demand and now Marriott […]

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