Market: Rewrite

Reason for Update: 

1.    Traditional hotels typically compete on the same services, facilities and amenities.  As such, I initially identified my competitors as traditional hotels in the marketplace.  However, in recent years, there has been a new addition in the marketplace that has become a viable competitor, peer-peer platforms such as Airbnb.  Thus, I have decided to include this electronic lodging marketplace as a competitor.

2.    Although Airbnb products and services are opaque, the concept has to be considered as a competitor.  This is because guestrooms can be added to supply continuously which undoubtedly will affect demand and pricing for my venture. 

3.    Airbnb can be considered a direct competitor for my venture since the concept lends itself to a high degree of customization.  This can be seen from the perspective that Airbnb concepts are unique, and further, there is a wide array of products for customers to choose from.  Such concepts range from a simple sofa to high end condominiums. 

Addition

The lodging industry has experienced the impact of the decentralized peer to peer market, via  concepts such as Airbnb.  Although the impact of such concepts is difficult to ascertain, it is a competitive force that has to be monitored.  As such, I intend to pay close attention to research generated by Smith Travel Research to look at the casual impact of such concepts on supply, demand and price during Atlanta’s peak, shoulder and low seasons.  Once the impact becomes less opaque, I can ascertain its actual competitive impact on my proposed venture.