Name: What Hyatt's CEO Learned From Airbnb And Uber
Uploaded: 2020-01-06
Duration: 2 min 3 s
Description: Mark Hoplamazian explains.

 I'd like to get some of your thoughts on Airbnb. Because in the hotel business, everybody's talking about it, the innovations that it's brought to the industry. What impact has it had at Hyatt? I think the primary impact is that it's laid bare some very interesting customer behavioral dynamics that I think are very interesting and important for us to keep track of. Like what? One of which is I think a lot of what the appeal of Airbnb provides is around the human interaction. You're dealing with not a trained professional checking you in but a host who owns a home, in most cases that is, not the professional hosts but people who actually own the home. And that desire for that authentic human connection is actually a very important lesson. We're seeing it not just in the sharing economy examples but also in retail. We're seeing it in fashion and many different places where you see customers interfacing with other people versus just product decisions. And it's much more experiential. That's what they're thinking. So we've taken that as a broader consumer behavioral shift and really applied that to our core business. So I would say that's the number one way in which what they've done has really shined a light on some things that we are taking in account of. When you saw what they were doing, it had an immediate impact on you in terms of how you wanted to change your system? Some elements of it, yes. I think they adapted certain things within the app itself. I think the way Uber, for example, also-- I know we're talking about Airbnb. But Uber also did some interesting things and built in two-way reviews, where the driver is rating the passenger as well as the passenger rating the driver. I think that's brilliant. It also creates a sense of responsibility and accountability to the other person in the car, which I think is actually a healthy thing. So I think those kinds of things that are simple design elements, very powerful in their effect. 

What Hyatt's CEO Learned From Airbnb And Uber

Tech

I'd like to get some of your thoughts on Airbnb because in the hotel business, everybody's talking about it. If the innovations that it's brought to the industry, what impact does that had at Hyatt? I think the primary impact is that it's, uh, laid there very interesting customer behavioral dynamics that I think are very interesting and important for us to keep track of what one of which is. I think a lot of what the appeal of there being deep provides is around the human interaction you're dealing with not a trained professional checking you in, but a host who owns a home. In most cases, that is not not the professional posts but people who actually owned the home and that that desire for that authentic human connection is actually a very important lesson. We're seeing it not just in the sharing economy examples, but also in retail. We're seeing it in fashion in many different places where you see customers interfacing with other people versus just product decisions, and it's much more experiential. That's what they're thinking. So we've taken that as a broader consumer behavioral shift and really applied that to our core business, so I would say that's the number one way in which what they've done has really shined a light on some things that were taking in account when when you saw what they were doing, it had an immediate impact on you in terms of how you wanted to change your system, that some elements of it, yes, I think they adapted certain things within the APP itself. I think the way uber, for example, also know we're talking about Airbnb. But uber also did some interesting things and built in, um, two way reviews where the driver is raiding the the passenger as well as a passenger rating the driver. I think that's brilliant. It also creates a sense of responsibility and accountability to the other person in the car, which I think it's actually a healthy thing. So I think those kinds of things that are simple design elements very powerful in there in there