Disruptive Innovations: Shifting Away Revenues from Traditional Homestay Businesses
This study sought to understand the homestay business through the eyes of selected stakeholders in which consumers’ needs, wants and demands are tied. Understanding “what do customers want” plays a vital role for homestay business success as customers are the key for business growth and profitability, while technological change is causing all the changes in customers’ behavior, experiences and thinking that require homestay operators to change to meet changing customer needs. The question of how much disruptive innovation shifting away revenue from traditional homestay business is a big concern. Methodological approach stakeholder inquiry was conducted in this study comprises of two groups (1) Registered homestay operators and (2) Unregistered homestay operators to elicit stakeholders’ views on the homestay revenue. Thus, the subjective views of these groups formed an integral part of the analysis and recommend the importance of a collaborative economy homestay business model among tourism stakeholders to serve the customer better from competition to network collaboration.