Disruption in hospitality: Spillover effects of Airbnb's IPO on hotel and casino stocks

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dc.contributor.authorAmpountolas, Apostolos
dc.contributor.authorSaglam, Yagmur
dc.date.accessioned2026-04-25T14:19:56Z
dc.date.available2026-04-25T14:19:56Z
dc.date.issued2026
dc.departmentSinop Üniversitesi
dc.description.abstractThis study examines the spillover effects of Airbnb's initial public offering (IPO) on the stock performance of traditional hospitality firms, specifically hotel chains and casino operators. Using a Structural Vector Auto-Regression (SVAR) model, we analyze daily stock returns and closing prices from January 2021 to May 2023 to examine the interconnectedness between Airbnb and traditional hospitality stocks. Our findings reveal significant short-term spillover effects, with hotel stocks displaying greater sensitivity to Airbnb's performance than casino stocks. Variance decomposition and impulse-response functions highlight the temporary nature of these impacts, reflecting cyclical investor sentiment patterns that stabilize within a few periods. The study confirms Airbnb's disruptive influence on traditional hospitality markets while offering insights into established players' resilience and adaptive strategies. This research contributes to the literature on disruptive innovation and provides technical implications for managing market volatility and enhancing competitiveness in the hospitality industry.
dc.identifier.doi10.1016/j.ijhm.2026.104569
dc.identifier.issn0278-4319
dc.identifier.issn1873-4693
dc.identifier.scopus2-s2.0-105028422376
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1016/j.ijhm.2026.104569
dc.identifier.urihttps://hdl.handle.net/11486/8271
dc.identifier.volume134
dc.identifier.wosWOS:001678406100002
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherElsevier Sci Ltd
dc.relation.ispartofInternational Journal of Hospitality Management
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_WOS_20260420
dc.subjectAirbnb IPO
dc.subjectSpillover effects
dc.subjectHotel stock performance
dc.subjectStructural vector auto-regression (SVAR)
dc.subjectCasino stock performance
dc.subjectInvestor sentiment
dc.titleDisruption in hospitality: Spillover effects of Airbnb's IPO on hotel and casino stocks
dc.typeArticle

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