Marriott International, the world’s largest hotel operator, is reportedly about to take on Airbnb. According to the Wall Street Journal, the owner of the Marriott, Sheraton, W and Ritz-Carlton hotel brands will launch a short-term home-rental platform as early as next month. Marriott will have to clear a number of hurdles to take on the technology firm that’s disrupted its industry. Beyond providing people with places to spend the night, the hotel and home-sharing businesses don’t have a lot in common. And because many of Marriott hotels are franchises, the move would seem to put the company into direct competition with its franchisees.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.