Is the Sharing Economy Hurting CRE?

Rauch: “We need to innovate as quickly as Airbnb and Uber have innovated and maintain constant research and development to stay ahead of the curve.”

SAN DIEGO—From Airbnb to Uber, there’s a new competitive element in town, but that doesn’t mean the commercial real estate industry can’t learn from this newcomer’s strengths and still win the game, RAR Hospitality’s CEO Robert Rauch tells GlobesSt.com. In a recent company newsletter, Rauch said, “Airbnb has become a lightning rod for debate and could become one of those aforementioned factors that pushes hotel industry revenue and net income growth into negative territory.” We spoke exclusively with Rauch about the sharing economy, how it is affecting commercial real estate and how the industry can turn this seemingly negative influence into a positive.

GlobeSt.com: How are the hotel industry and other sectors of the CRE industry being affected the sharing economy (e.g., Airbnb, Uber, Lyft)?