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This study aims to examine, via social exchange theory and social representations, how online vacation rentals (OVR) connect tourists and owners. It also aims to understand the dynamics and representations between owners and tourists in Albufeira, one of the most popular counties in the south of Portugal, supported on the theories of representation and social exchange. More specifically this research is structured on the following question: how the consequents – engagement and personalization – are materialized in the testimonies and descriptions posted on the vacation rentals platform.

The initial assumption for this exploratory study is that OVR bring both material and intangible advantages for the individual consumer and for the community of homeowners. Drawing from netnography, using textual analysis, including the use of a corpus linguistics software program (WordSmith v.6), the authors aim to capture the multidimensional meanings presented by the tourists' online reviews of their travelling experience and home rental.

The findings suggest that sharing the same nationality can facilitate engagement and influence the decision-making process (selection of property). Furthermore, findings point to a sense of place construed through affordances of place, home and a functional sense of place. Personalization of services is perceived by tourists as a positive outcome, this being the result of a positive evaluation that properties have received.

The innovative design of this research, combining textual analysis and netnography of data reviews, and the analysis of this new form of tourism are the main contributions of this paper.

This paper aims to provide answers to the question: “What are the key innovative strategies needed for future tourism in the world?” At the outset, this paper redefines the word “innovation” in the context of the hospitality and tourism industry. It then captures the essence of 13 proceeding papers on innovative initiatives in 17 countries and presents concluding remarks to this Worldwide Hospitality and Tourism Themes (WHATT) theme issue on innovation (v. 11 n. 2, 2019).

This paper draws from a wide spectrum of innovation types, concepts, strategies, suggestions and solutions written by 24 authors, who cumulatively have valuable and diverse experience in managing, operating, teaching, researching and consulting on innovation.

Innovation is relevant to all macro- and micro-level aspects of all industries. In conclusion, to identify common elements in all 13 papers, the author presents a shorter definition: “Innovation is the art of implementing new ideas to improve productivity, products and services, while enhancing customer satisfaction, revenues and profitability”. In addition, he emphasizes that innovation needs vision, mission and passion!

This research contributes to the emerging research theme of innovation in the hospitality and tourism industry and extends/re-defines the word: “innovation”.

There are significant practical implications in terms of industry approaches to use innovative strategies across the world.

Readers who are interested in international best practices of hospitality and tourism would benefit from this paper.

In the 1980s and beyond, key elements in the formula for bank retailing success will include people, place, plastic and machine strategies designed to effectively mix high‐touch and high‐tech operating modes in order to satisfy customer demand for time and place convenience. A scenario depicting the extensive delivery system of a fictional major multi‐state banking organisation that has evolved through a series of regional mergers and acquisitions (First Southeast Financial) attempts to speculate about the look of an overall delivery system in 1990, and how the operating mix elements will fit together.

This study aims to investigate a sharing economy context, where vacation rental units that are owned and operated by individuals throughout the world are rented out through a common website: vrbo.com. It is posited that gross domestic product (GDP) per capita, a common indicator of the level of economic development of a nation, will impact the likelihood that prospective travelers will choose to book accommodations in the sharing economy channel (vs traditional hotels). The role of online customer reviews in this process is investigated as well, building upon a significant body of extant research which shows their level of customer decision influence.

An empirical analysis is conducted using data from the website Vacation Rentals By Owner on 1,940 rental listings across 97 countries.

GDP per capita serves as risk deterrent to prospective travelers, making the sharing economy an acceptable alternative to traditional hotels for the average traveler. It is also found that the total number of online customer reviews (OCR volume) is a signal of popularity to prospective travelers, while the average star rating of those online customer reviews (OCR valence) is instead a signal of accommodation quality.

This study adds to a growing agenda of research investigating the effect of online customer reviews on consumer decisions, with a particularly focus on the burgeoning sharing economy. The findings help to explain when the sharing economy may serve as a stronger disruptive threat to incumbent offerings. It also provides the following key insights for managers: sharing economy rental units in developed nations are more successful in driving booking activity, managers should look to promote volume of online customer reviews and positive online customer reviews are particularly influential for sharing economy rental booking rates in less developed nations.

Vacation rental homes, in general, have different energy usage characteristics than traditional residential homes mainly because of the occupancy pattern that changes on a weekly basis. These homes, predominantly larger in size, offer a greater scope for energy savings also because of the wasteful habits of their seasonal occupants. The purpose of this paper is to investigate the causes of energy inefficiencies prevalent in these homes so that appropriate retrofit choices can be offered to homeowners.

This research presents a case study of a vacation rental home whose energy consumption was investigated in depth and energy inefficiencies identified through modeling using energy modeling software, eQUEST. Simulations were performed to identify viable retrofit scenarios.

While improvement in the building envelope such as providing shades/overhangs on the windows, reducing infiltration and increasing insulation of the exterior wall did not show promising results for savings on energy cost, other improvements such as use of highly efficient lamps, tank-less water heater system and occupancy sensors showed viable investment options with shorter payback periods. It was also found that energy use intensity of sampled houses was about half of the average of US residential buildings, which could primarily be attributed to the seasonal nature of occupancy of these houses.

There is a dearth of literature pertaining to energy efficiency-related retrofits of coastal vacation homes. This research fills that gap to some extent by addressing this issue with an ultimate aim of assisting homeowners in retrofit decision-making.

The purpose of this paper is to explore how tourism investment, business and operations were aligned with the United Nations Sustainable Development Goals (SDGs) in the Abaco Cays pre-Hurricane Dorian 2019 in The Bahamas.

This paper takes an exploratory qualitative approach using the Abaco Cays, The Bahamas as the geographical study area. Semi-structured interviews were conducted face-to-face for data collection and transcribed using NVivo 12 plus. Critical discourse analysis was used to interpret interviewees’ spoken words in the broader social context of the Abaco Cays.

Results illustrate the extent of tourism alignment with the SDGs in communities, dependent on tourism for growth. Findings from tourism investment, business and operations data analysis provide insights on tourism and the SDGs from a local perspective.

This research demonstrates how tourism aligns with the SDGs in one geographical area of The Bahamas. It also highlights discourses influencing tourism and the SDGs towards achieving the 2030 Agenda.

A practical implication of this paper is adopting a bottom-up approach for a comprehensive understanding of tourism alignment with the SDGs in the Abaco Cays.

This paper provides implementation guidelines for communities in the Abaco Cays, to align local sustainable tourism plans with the SDGs. It also provides a multidisciplinary approach for greater coherence of tourism with the SDGs from the community to the national level in the Bahamas.

This paper examines the changes in the length of commercial property leases over the last decade and presents an analysis of the consequent investment and occupational pricing implications for commercial property investments. It is argued that the pricing implications of a short lease to an investor are contingent upon the expected costs of the letting termination to the investor, the probability that the letting will be terminated and the volatility of rental values. The paper examines the key factors influencing these variables and presents a framework for incorporating their effects into pricing models. Approaches to their valuation derived from option pricing are critically assessed. Simulation methododology is applied to the rental and capital valuations of short leases and properties with break clauses. It is concluded that in addition to the rigour of its internal logic, the success of any methodology is predicated upon the accuracy of the inputs.

San Francisco started regulating short-term vacation rentals on rooms/apartments/houses located within city limits in September 2019. The objectives of this conceptual-scenario and regression study are to calculate the present value of the net earnings for a short-term residential rental property located in San Francisco pre-regulation and post-regulation, and consider a financial reason motivating households to list properties as short-term rentals.

A present value approach is used to estimate the value of rental space to tourists prior to the passage of San Francisco's short-term rental regulations compared to post-rental rules. Table 2 shows pre- and post-income scenarios. Price increases of +20, +40 and +60 percent over the initial base rate failed to restore host earnings to pre-registration levels. The present value model calculates the net revenue less net cost associated with listing a property. The regression model uses the number of listings as the dependent variable, and housing prices divided by weekly wages as independent variables.

The short-term rental regulations significantly reduce the profitability associated with short-term tourist stays offered by hosts and listed by online platforms. A host earns pre-regulation income when average daily rents increase by approximately 71.5 percent. It will likely limit income earned by hosts and Airbnb and other shared housing website platforms due to the reduced number of rental days allowed for shared housing caused by ordinances and host enrollment restrictions. The regression model results suggest that homeowners were listing properties for rent to help cover higher priced property purchases.

Airbnb, VRBO, Booking.com, and HomeAway are all private companies; this means that financial information is not publicly available. HomeAway, VRBO, and Booking.com are companies owned by Expedia. FlipKey is owned by TripAdvisor. Due to limited public information regarding income statements and property listing trends, regression analysis and descriptive statistics cannot be generated using audited financial statements.

Rent control restriction frequently sets the maximum price below the market-clearing price, which results in limited supply but increase in demand for housing. The San Francisco regulations outlaw second-home rentals and seriously limit the availability of other rentals to tourists. FlipKey and HomeAway tend to rent second homes, which San Francisco now bars from being rented for short-term.

The San Francisco restrictions were enacted with the goal of increasing the supply of rental housing available to permanent residents by restricting short-term rentals. This may have limited short-term benefits to permanent residents, but in the long term lowers income associated with single-family housing which will encourage housing arrangements that would avoid leasing restrictions and lower the number of new houses built. Other cities also have a history of rent controls, and are experiencing housing shortages and at the same time attracting large numbers of tourists. These cities may be motivated to enact similar rental restrictions as those approved in San Francisco.

These short-term rental restrictions just started being implemented and enforced. A court decision upheld them. There were media reports outlining the restrictions, but enforcement has just started, so no research papers have been written about San Francisco. Prior research studies have not used net present value analysis to calculate the loss to the host by enacted ordinances restricting tourists’ length of stay and have neither tried to explain why homeowners are listing properties for short-term rentals.

Vacation rentals (VRs) are growing in popularity and have disrupted the lodging industry. But they are also controversial because they can literally disrupt quiet residential neighborhoods. There is little research on users of VRs.

An online survey of 10,000 festival attendees in San Francisco determined if they stayed in VR or commercial lodging and their spending. A second survey of 402 respondents who stayed in a VR asked about their motivations for renting a VR and their evaluation of the experience.

Results showed users of VRs were motivated by low cost, a convenient location and the nature of the neighborhood. VR user groups were more likely to rent high-end properties, than commercial users. But on a per-person per-day basis, VR users spent $183 on lodging, compared with $264 spent by those opting for a CL. Over half of the respondents stated that the availability of VRs increased the likelihood of them attending the event.

Results suggest that VRs help cover housing costs of VR owners and provide a desired, unique and low-priced lodging opportunity, which can encourage attendance at events. But VRs have both positive and negative disruptive impacts, and more regulation is coming in high-profile urban tourist destinations to mitigate negative effects.

This study consists of original research into VRs, which is a rapidly evolving component of hospitality industry.