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August 29, 2015

Airbnb here to stay in Hong Kong as the sharing economy takes flight

People can even book HK superyacht through online platform - not that anyone has yet

BEN WESTCOTTben.westcott@scmp.com

PUBLISHED : Saturday, 29 August, 2015, 12:01am

UPDATED : Saturday, 29 August, 2015, 12:01am

This yacht could be yours for the night.Photo: SCMP Pictures

Airbnb has become an international sensation as a comfortable way to explore foreign parts or make a quick weekend getaway without paying through the nose for a hotel.

The website, which allows people to offer their home or a room to travellers for a short stay, forms a significant section of Hong Kong's burgeoning "sharing economy". The fact that is it illegal in the city to offer a sleeping space for less than 28 days without a licence - an offence that attracts a fine of up to HK$200,000 - hasn't stopped more than 1,000 Hongkongers signing up to offer strangers a place to stay.

Many of the prices are cheaper than those at hotels - but you can also spend HK$58,000 for a night aboard what is billed as an "out-of-this-world superyacht".

The yacht, which is the most expensive Hong Kong listing on the website, can hold up to six guests in its three bedrooms - a master bedroom, a guest room and a "VIP room". There is even an on-deck cinema if visitors get bored of the stunning vistas of Hong Kong Island's southern district, where the yacht is moored.

Measuring a modest 78 feet and built in 2013, the yacht has three bathrooms, a kitchen and a staff of three. Navigation is optional, and costs HK$10,000.

The guests are picked up by dinghy from Deep Water Bay.

But despite the attractions, the man who listed the yacht hasn't yet had a single paying guest through the website.

"I wanted to see if there'd be any interest on Airbnb but mostly it's been from the press and people making movies," said Eric Noyel, the businessman who owns the vessel. "The two inquiries I had were asking for special prices, but it's a flat fee."

The two inquiries I had were asking for special prices, but it's a flat fee

BUSINESSMAN ERIC NOYEL

Noyel was influenced by the growth of the so-called sharing economy - a shift from traditional forms of consumption to an economy based on collaboration that is upending mature business models around the world, while saving users time and money.

"I have a liking for things about shared economies … it's all about sharing values, sharing assets. I just like Airbnb so I thought I'd put something special on there. I think people are curious."

Anyone who fancies a night on the yacht will have to take care - the deposit required comes to HK$38,000, three times the average monthly salary in the city.

Those with more modest tastes - or smaller wallets - can look at options including a "luxury houseboat" that can be yours for just HK$10,000 a night.

Featuring a dining area, a master bedroom, an exercise bike and a cosy living area, it's available to book almost any day between now and next year.

A survey earlier this year found nearly a third of internet users in Hong Kong dipped into sharing services, from car-hailing apps to crowdfunding platforms, up to eight times a year.

But, like Airbnb, such services often exist in a legal grey area. Hong Kong this month became the latest jurisdiction to crack down on car-hire app Uber, amid an outcry from the taxi industry.

http://m.scmp.com/news/hong-kong/economy/article/1853486/airbnb-here-stay-hong-kong-sharing-economy-takes-flight