Last updated: 04:00 PM ET, Thu May 19 2016

European Startup NightSwapping Introduces the Real Sharing Economy

Hotel & Resort | Patrick Clarke | May 19, 2016

European Startup NightSwapping Introduces the Real Sharing Economy

Photo courtesy of Thinkstock.

Is the sharing economy really about sharing if you have to pay for something?

European travel startup NightSwapping is aiming to transform the current state of the sharing economy. 

The company's radical new concept is really pretty simple. Members can host travelers in their guestroom or home and earn credits that they can then use to stay at another member's place for free in the future.

Unlike Airbnb and other short-term rental services, there's no money exchanged. 

With money being taken out of the equation, there's bound to be significant skepticism and hesistation. However, NightSwapping has signed a partnership with international insurance company ALLIANZ to provide members with peace of mind.

The worldwide coverage provides up to $500,000 in home insurance covering property, tangible and intangible damages for hosts. What's more, the insurance covers against physical injuries as well as medical evacuaton and repatriation for guests.

READ MORE: Airbnb vs. Hotel: Which is Right For You?

Travelers looking to try out NightSwapping before hosting can do so by purchasing nights, which range from $8 to $55. 

Those not sure where to go can also receive suggestions that they can then add to their wish list by entering their city of departure on NightSwapping.

According to the company, the unique service has already been used by thousands of travelers in dozens of countries around the world.


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