Crowdfunding in the accommodation realm and pandemic times

The resilient case of CleanBnB

Abstract

Crowdfunding campaigns have recently promoted a range of new business models in different contexts. This study investigates crowdfunding in the accommodation realm from a socio-cultural perspective and across its international dynamics. Drawing on complexity theory, the study explores the successful case of CleanBnb, the leading crowdfunded company in the Italian shortterm rental market, and informs hospitality actors on the coping strategies implemented to challenge the Covid- 19 pandemic. The study adopts a case study approach, combining primary data collected through an in-depth interview of the CEO and the analysis of secondary data from different company reports. The results highlight the importance of (1) business diversification, (2) grouping opportunities and (3) widening of service range as key factors in pandemic business survival for start-ups operating in the accommodation realm. The study finally discusses post-pandemic scenarios for both the traditional hotel industry and sharing economy operators by offering managerial insights.