Hotel giant Marriott is testing a pilot home-rental program in Europe, launching in the U.S. later if successful

With the continued success of the sharing economy, the hospitality industry is heating up, with hotels and homeshare services alike forging new partnerships to stay ahead of the game. Case in point, last month Airbnb acquired Hotel Tonight, a last-minute booking company, in efforts to make its accommodations even more flexible and available. On the more traditional establishment front, hotel chain Marriott is aiming to compete with the likes of Airbnb with its own home-rental program.

With around 1.3 million guest rooms globally, Marriott remains the world's largest hotel operator. Airbnb, however, is the world's largest home-rental platform, boasting as many as six million rentals globally. Marriott recently completed a pilot of its homeshare service, renting 340 properties in Paris, Rome, Lisbon and London and has plans to launch in the U.S. if success continues.

In particular, Marriott hopes to simultaneously make its brand more attractive to younger millennial consumers, with whom the homeshare practice is popular, while also introducing brand-loyal older generations like Boomers to try the service. Furthermore, the establishment's venture into home rentals is part of its larger brand extension, ‘Tribute Portfolio Homes,' which offers more niche and specialty properties to provide travelers with unique experiences.

Marriott

With the continued success of the sharing economy, the hospitality industry is heating up, with hotels and homeshare services alike forging new partnerships to stay ahead of the game. Case in point, last month Airbnb acquired Hotel Tonight, a last-minute booking company, in efforts to make its accommodations even more flexible and available. On the more traditional establishment front, hotel chain Marriott is aiming to compete with the likes of Airbnb with its own home-rental program.

With around 1.3 million guest rooms globally, Marriott remains the world's largest hotel operator. Airbnb, however, is the world's largest home-rental platform, boasting as many as six million rentals globally. Marriott recently completed a pilot of its homeshare service, renting 340 properties in Paris, Rome, Lisbon and London and has plans to launch in the U.S. if success continues.