Is Airbnb a Sustainable Business Model Over Time? Modeling Behavioural Intention Using Mixed PLS-SEM/Fsqca Methodology

Abstract

In the context of peer-to-peer accommodation services, Airbnb has emerged as a transformative force in the tourism sector. This study examines whether Airbnb represents a sustainable business model during periods of economic instability. We employed a hybrid analytical framework combining Partial Least Squares Structural Equation Modeling (PLS-SEM) and fuzzy-set Qualitative Comparative Analysis (fsQCA) to analyze responses from 581 Spanish users. The extended UTAUT2 model incorporated electronic word-of-mouth (e-WOM), trust, and perceived COVID-19 risk as additional predictors of behavioral intention. PLS-SEM results showed that only performance expectancy had a statistically significant effect. In contrast, fsQCA revealed that effort expectancy, hedonic motivation, price-value, e-WOM, and trust are necessary conditions influencing usage intention. This divergence highlights the value of asymmetrical methods like fsQCA in capturing complex behavioral patterns that may not be observable through symmetrical approaches alone, making the two methods highly complementary. From a managerial standpoint, the results suggest that enhancing trust and leveraging e-WOM are vital for sustaining Airbnb’s competitive advantage. The study contributes by integrating two complementary analytical approaches and by modeling intention under crisis conditions. This research offers actionable insights for platform providers and tourism policymakers and sets a precedent for future studies on digital accommodation platforms.