Some interesting thoughts in here. Would you rather book with a manager or a homeowner (bearing in mind many properties on Airbnb are actually from managers). The big question is branding and what part this play in the future.
The vacation rental market has undergone a seismic realignment since the twin juggernauts of HomeAway and Airbnb bounded onto the scene in the mid 2000s. Both companies - operating with slightly different models - helped to shift consumer expectations when it came to taking a holiday in someone else's house.