[bigdubs]

I'm not an expert on AirBnB in the slightest but I think that's what you would consider their competitive advantage; you make the homeowners assume the responsibilities normally reserved for the Hotel.

That way AirBnB just acts as an intermediary and doesn't need to deal with the fussy details.

[Retric]

AirBnB's advantage is they don't need to invest capital in real estate. But, the fussy details are how company's make money.

[refurb]

Interestingly, most hotels do NOT own the property the offer. Hotel chains like Hilton are hired by property owners to manage the hotel business.

Or at least thats what wikipedia says (1).

like many hoteliers, Hyatt operates hotels for a fee as a management company, and does not usually own the real estate

(1)http://en.m.wikipedia.org/wiki/Hyatt_Regency_walkway_collaps...

[lotsofpulp]

Technically, most hotels do own the property they offer. Hilton, Hyatt, Starwood, Marriott, IHG, Choice, Wyndham are all brands. They sell the reputation, that the owners of a hotel building buy (i.e. franchise) and pay royalties to.

Sometimes a hotel brand owns the hotel building, sometimes a hotel brand manages the hotel, and sometimes they do both. But in the vast majority of cases, the hotel brand is in a franchising agreement with the hotel owner, and many times the hotel owner will hire a management company to deal with running the hotel itself.