Is There a Place for Independent Hotels?

There will continue to be a place for independent hotels, but i think that how their role evolves really depends on this segmentation question. One of the interesting things about airby and b versus these different kinds of competitors in hotels is, for example, recently, hotels have been more flexible if you have to change your plans or cancel. They understand the externalities of air lines and of the uncertainty that we're all facing. More broadly, they've ben alot more flexible because they've been really working hard to try and maintain relationships with their guests. On the other hand, air b and b write this two sided market place, has a lot less flexibility because they actually have to honour both sides