The concept of the experience economy describes the transition from a product- and service-driven economy to an experiential one. Figures from Barclays and other economic research centers point to 2001 as the tipping point when consumers started to buy fewer products and consume more services. Eventually, the combination of advances in technology with the changing values of consumers led to the success of social media and sharing networks as commercial platforms. The initial success of Airbnb was underpinned by the desire of a growing share of travelers to have experiences and share a sense of community with like-minded people. Since then, the company has announced its ambitions to become a global travel company and has started to offer travel experiences in selected cities. However, Airbnb and similar platforms offering experiences are limited as they do not control the actual delivery of the experience. Customers are also faced with a large number of uncurated offerings and the choice can be overwhelming. This provides an opportunity for traditional hotel brands to leverage their existing brand equity to offer a range of more focused services and experiences that go beyond hotel stays. Brands can capitalize on their knowledge of their customers and experience in service delivery to open up new revenue streams from a variety of sources and collect royalties through new collaborations. Get the full story at École hôtelière de Lausanne Read also "Adobe Summit 2018: Make experience your business"