Final answer:
Hotels have adapted to the sharing economy through personalized guest experiences, integrating technology for convenience, and implementing sustainability practices to stay competitive.
Step-by-step explanation:
Hotels have had to adapt to the changes brought about by the sharing economy. This adjustment has seen hotels implement adaptations to stay competitive. Some of the changes include offering more personalized experiences, leveraging technology to enhance guest convenience, and integrating sustainability practices into their operations.
Customized guest experiences have become more prevalent, with hotels offering unique local experiences, events, and services. This helps to differentiate their offerings from the standard accommodations provided by the likes of Airbnb.
Technology integrations have improved efficiency with mobile check-ins, apps for service requests, and AI-powered customer service features. This addresses the customer's need for convenience and speed that are hallmark traits of sharing economy services.
Sustainability practices are also on the rise where hotels are adopting eco-friendly policies and procedures, such as reducing waste or using renewable energy, which not only positions them as socially responsible businesses but also responds to the growing demand from consumers for environmentally conscious options.