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href=\"https:\/\/yukatsu.jp\/blog\/%e3%80%90%e6%b0%91%e6%b3%8ama%e3%81%ae%e3%81%99%e3%81%b9%e3%81%a6%e3%80%91%e5%96%b6%e6%a5%ad%e8%a8%b1%e5%8f%af%e3%82%92%e3%82%b7%e3%83%bc%e3%83%a0%e3%83%ac%e3%82%b9%e3%81%ab%e6%89%bf%e7%b6%99\/#2_%E9%81%8E%E5%8E%BB%E3%81%AE%E3%80%8C%E7%A8%BC%E5%83%8D%E5%AE%9F%E7%B8%BE%EF%BC%88%E3%83%87%E3%83%BC%E3%82%BF%EF%BC%89%E3%80%8D%E3%81%A8%E3%80%8C%E9%AB%98%E8%A9%95%E4%BE%A1%E3%83%AC%E3%83%93%E3%83%A5%E3%83%BC%E3%80%8D%E3%82%92%E5%BC%95%E3%81%8D%E7%B6%99%E3%81%92%E3%82%8B\" >2. \u904e\u53bb\u306e\u300c\u7a3c\u50cd\u5b9f\u7e3e\uff08\u30c7\u30fc\u30bf\uff09\u300d\u3068\u300c\u9ad8\u8a55\u4fa1\u30ec\u30d3\u30e5\u30fc\u300d\u3092\u5f15\u304d\u7d99\u3052\u308b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/yukatsu.jp\/blog\/%e3%80%90%e6%b0%91%e6%b3%8ama%e3%81%ae%e3%81%99%e3%81%b9%e3%81%a6%e3%80%91%e5%96%b6%e6%a5%ad%e8%a8%b1%e5%8f%af%e3%82%92%e3%82%b7%e3%83%bc%e3%83%a0%e3%83%ac%e3%82%b9%e3%81%ab%e6%89%bf%e7%b6%99\/#3_%E6%B8%85%E6%8E%83%E4%BD%93%E5%88%B6%E3%82%84%E9%81%8B%E5%96%B6%E3%82%AA%E3%83%9A%E3%83%AC%E3%83%BC%E3%82%B7%E3%83%A7%E3%83%B3%E3%81%8C%E6%9C%80%E5%88%9D%E3%81%8B%E3%82%89%E5%AE%8C%E6%88%90%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B\" >3. \u6e05\u6383\u4f53\u5236\u3084\u904b\u55b6\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u304c\u6700\u521d\u304b\u3089\u5b8c\u6210\u3057\u3066\u3044\u308b<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/yukatsu.jp\/blog\/%e3%80%90%e6%b0%91%e6%b3%8ama%e3%81%ae%e3%81%99%e3%81%b9%e3%81%a6%e3%80%91%e5%96%b6%e6%a5%ad%e8%a8%b1%e5%8f%af%e3%82%92%e3%82%b7%e3%83%bc%e3%83%a0%e3%83%ac%e3%82%b9%e3%81%ab%e6%89%bf%e7%b6%99\/#%E5%BE%B9%E5%BA%95%E6%AF%94%E8%BC%83%EF%BC%81%E6%B0%91%E6%B3%8AM_A%E3%81%AE2%E5%A4%A7%E3%82%B9%E3%82%AD%E3%83%BC%E3%83%A0%EF%BC%88%E6%A0%AA%E5%BC%8F%E8%AD%B2%E6%B8%A1_vs_%E8%B3%87%E7%94%A3%E8%AD%B2%E6%B8%A1%EF%BC%89\" >\u5fb9\u5e95\u6bd4\u8f03\uff01\u6c11\u6ccaM&amp;A\u306e2\u5927\u30b9\u30ad\u30fc\u30e0\uff08\u682a\u5f0f\u8b72\u6e21 vs \u8cc7\u7523\u8b72\u6e21\uff09<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" 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href=\"https:\/\/yukatsu.jp\/blog\/%e3%80%90%e6%b0%91%e6%b3%8ama%e3%81%ae%e3%81%99%e3%81%b9%e3%81%a6%e3%80%91%e5%96%b6%e6%a5%ad%e8%a8%b1%e5%8f%af%e3%82%92%e3%82%b7%e3%83%bc%e3%83%a0%e3%83%ac%e3%82%b9%e3%81%ab%e6%89%bf%e7%b6%99\/#%E2%91%A0_%E8%B3%83%E8%B2%B8%E7%89%A9%E4%BB%B6%E3%81%AE%E5%A0%B4%E5%90%88%E3%81%AE%E3%80%8C%E5%A4%A7%E5%AE%B6%E3%83%BB%E7%AE%A1%E7%90%86%E7%B5%84%E5%90%88%E3%81%AE%E6%89%BF%E8%AB%BE%E3%80%8D%E3%81%AE%E6%9C%89%E5%8A%B9%E6%80%A7\" >\u2460 \u8cc3\u8cb8\u7269\u4ef6\u306e\u5834\u5408\u306e\u300c\u5927\u5bb6\u30fb\u7ba1\u7406\u7d44\u5408\u306e\u627f\u8afe\u300d\u306e\u6709\u52b9\u6027<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" 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href=\"https:\/\/yukatsu.jp\/blog\/%e3%80%90%e6%b0%91%e6%b3%8ama%e3%81%ae%e3%81%99%e3%81%b9%e3%81%a6%e3%80%91%e5%96%b6%e6%a5%ad%e8%a8%b1%e5%8f%af%e3%82%92%e3%82%b7%e3%83%bc%e3%83%a0%e3%83%ac%e3%82%b9%e3%81%ab%e6%89%bf%e7%b6%99\/#%E2%91%A2_%E5%BB%BA%E7%89%A9%E3%83%BB%E6%B6%88%E9%98%B2%E8%A8%AD%E5%82%99%E3%81%AE%E3%80%8C%E9%81%95%E5%8F%8D%E9%80%9A%E7%9F%A5%E3%80%8D%E3%82%84%E4%BF%AE%E7%B9%95%E5%B1%A5%E6%AD%B4%E3%81%AE%E7%A2%BA%E8%AA%8D\" >\u2462 \u5efa\u7269\u30fb\u6d88\u9632\u8a2d\u5099\u306e\u300c\u9055\u53cd\u901a\u77e5\u300d\u3084\u4fee\u7e55\u5c65\u6b74\u306e\u78ba\u8a8d<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/yukatsu.jp\/blog\/%e3%80%90%e6%b0%91%e6%b3%8ama%e3%81%ae%e3%81%99%e3%81%b9%e3%81%a6%e3%80%91%e5%96%b6%e6%a5%ad%e8%a8%b1%e5%8f%af%e3%82%92%e3%82%b7%e3%83%bc%e3%83%a0%e3%83%ac%e3%82%b9%e3%81%ab%e6%89%bf%e7%b6%99\/#%E3%81%BE%E3%81%A8%E3%82%81%EF%BD%9C%E3%83%97%E3%83%AD%E3%81%AE%E7%9B%AE%E5%88%A9%E3%81%8D%E3%81%A8%E6%9C%80%E9%81%A9%E3%81%AA%E3%82%B9%E3%82%AD%E3%83%BC%E3%83%A0%E6%A7%8B%E7%AF%89%E3%81%8C%E6%88%90%E5%8A%9F%E3%81%AE%E9%8D%B5\" >\u307e\u3068\u3081\uff5c\u30d7\u30ed\u306e\u76ee\u5229\u304d\u3068\u6700\u9069\u306a\u30b9\u30ad\u30fc\u30e0\u69cb\u7bc9\u304c\u6210\u529f\u306e\u9375<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%B0%91%E6%B3%8A%E4%BA%8B%E6%A5%AD%E3%82%92M_A%E3%81%A7%E5%8F%96%E5%BE%97%EF%BC%88%E8%B2%B7%E5%8F%8E%EF%BC%89%E3%81%99%E3%82%8B3%E3%81%A4%E3%81%AE%E5%A4%A7%E3%81%8D%E3%81%AA%E3%83%A1%E3%83%AA%E3%83%83%E3%83%88\"><\/span>\u6c11\u6cca\u4e8b\u696d\u3092M&amp;A\u3067\u53d6\u5f97\uff08\u8cb7\u53ce\uff09\u3059\u308b3\u3064\u306e\u5927\u304d\u306a\u30e1\u30ea\u30c3\u30c8<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u65b0\u898f\u53c2\u5165\u3084\u4e8b\u696d\u62e1\u5927\u3092\u76ee\u6307\u3059\u6295\u8cc7\u5bb6\u30fb\u6cd5\u4eba\u306b\u3068\u3063\u3066\u3001\u6c11\u6ccaM&amp;A\u306b\u306f\u5358\u306a\u308b\u7269\u4ef6\u8cfc\u5165\uff08\u4e0d\u52d5\u7523\u6295\u8cc7\uff09\u3092\u8d85\u3048\u305f\u5f37\u529b\u306a\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_%E8%A8%B1%E8%AA%8D%E5%8F%AF%E5%8F%96%E5%BE%97%E3%81%AE%E6%89%8B%E9%96%93%E3%81%A8%E6%99%82%E9%96%93%E3%82%92%E5%AE%8C%E5%85%A8%E3%81%AB%E3%80%8C%E3%82%B7%E3%83%A7%E3%83%BC%E3%83%88%E3%82%AB%E3%83%83%E3%83%88%E3%80%8D%E3%81%A7%E3%81%8D%E3%82%8B\"><\/span>1. \u8a31\u8a8d\u53ef\u53d6\u5f97\u306e\u624b\u9593\u3068\u6642\u9593\u3092\u5b8c\u5168\u306b\u300c\u30b7\u30e7\u30fc\u30c8\u30ab\u30c3\u30c8\u300d\u3067\u304d\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u6cca\u65b0\u6cd5\u306e\u5c4a\u51fa\u3084\u3001\u7279\u306b\u65e5\u6570\u5236\u9650\u306e\u306a\u3044\u300c\u65c5\u9928\u696d\u6cd5\uff08\u7c21\u6613\u5bbf\u6240\u55b6\u696d\uff09\u300d\u306e\u8a31\u53ef\u3092\u30bc\u30ed\u304b\u3089\u53d6\u5f97\u3059\u308b\u306e\u306f\u3001\u5e74\u3005\u30cf\u30fc\u30c9\u30eb\u304c\u9ad8\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u4fdd\u5065\u6240\u3084\u6d88\u9632\u7f72\u3068\u306e\u6570\u30f6\u6708\u306b\u53ca\u3076\u30bf\u30d5\u306a\u4ea4\u6e09\u3001\u9ad8\u984d\u306a\u6d88\u9632\u8a2d\u5099\u306e\u8a2d\u7f6e\u5de5\u4e8b\u3068\u3044\u3063\u305f\u30d7\u30ed\u30bb\u30b9\u3092\u3059\u3079\u3066\u30b9\u30ad\u30fc\u30e0\u4e0a\u30b9\u30ad\u30c3\u30d7\u3057\u3001\u3059\u3067\u306b\u300c\u5408\u6cd5\u7684\u306b\u55b6\u696d\u3057\u3066\u3044\u308b\u72b6\u614b\u300d\u3092\u305d\u306e\u307e\u307e\u624b\u306b\u5165\u308c\u3089\u308c\u308b\u306e\u306fM&amp;A\u6700\u5927\u306e\u5f37\u307f\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_%E9%81%8E%E5%8E%BB%E3%81%AE%E3%80%8C%E7%A8%BC%E5%83%8D%E5%AE%9F%E7%B8%BE%EF%BC%88%E3%83%87%E3%83%BC%E3%82%BF%EF%BC%89%E3%80%8D%E3%81%A8%E3%80%8C%E9%AB%98%E8%A9%95%E4%BE%A1%E3%83%AC%E3%83%93%E3%83%A5%E3%83%BC%E3%80%8D%E3%82%92%E5%BC%95%E3%81%8D%E7%B6%99%E3%81%92%E3%82%8B\"><\/span>2. \u904e\u53bb\u306e\u300c\u7a3c\u50cd\u5b9f\u7e3e\uff08\u30c7\u30fc\u30bf\uff09\u300d\u3068\u300c\u9ad8\u8a55\u4fa1\u30ec\u30d3\u30e5\u30fc\u300d\u3092\u5f15\u304d\u7d99\u3052\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u6cca\u30d3\u30b8\u30cd\u30b9\u306e\u53ce\u76ca\u6027\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b\u306e\u304c\u3001Airbnb\u3084Booking.com\u306a\u3069\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u4e0a\u306b\u7a4d\u307f\u4e0a\u304c\u3063\u305f\u300c\u30b2\u30b9\u30c8\u304b\u3089\u306e\u30ec\u30d3\u30e5\u30fc\uff08\u2605\u306e\u6570\uff09\u300d\u3084\u3001\u904e\u53bb\u306e\u4e88\u7d04\u5b9f\u7e3e\u3067\u3059\u3002\u65b0\u3057\u304f\u30a2\u30ab\u30a6\u30f3\u30c8\u3092\u4f5c\u3063\u3066\u661f\u30bc\u30ed\u304b\u3089\u59cb\u3081\u308b\u5834\u5408\u3001\u6700\u521d\u306f\u5358\u4fa1\u3092\u5b89\u304f\u305b\u3056\u308b\u3092\u5f97\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u65e2\u5b58\u4e8b\u696d\u306e\u8b72\u6e21\u3067\u3042\u308c\u3070\u3001\u30a2\u30ab\u30a6\u30f3\u30c8\u3084\u9ad8\u8a55\u4fa1\u30ec\u30d3\u30e5\u30fc\u3001\u3059\u3067\u306b\u5148\u3005\u307e\u3067\u5165\u3063\u3066\u3044\u308b\u4e88\u7d04\u3092\u305d\u306e\u307e\u307e\u5f15\u304d\u7d99\u3052\u308b\u305f\u3081\u3001\u521d\u6708\u304b\u3089\u9ad8\u3044\u5ba2\u5ba4\u5358\u4fa1\uff08ADR\uff09\u3068\u7a3c\u50cd\u7387\u3092\u7dad\u6301\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_%E6%B8%85%E6%8E%83%E4%BD%93%E5%88%B6%E3%82%84%E9%81%8B%E5%96%B6%E3%82%AA%E3%83%9A%E3%83%AC%E3%83%BC%E3%82%B7%E3%83%A7%E3%83%B3%E3%81%8C%E6%9C%80%E5%88%9D%E3%81%8B%E3%82%89%E5%AE%8C%E6%88%90%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B\"><\/span>3. \u6e05\u6383\u4f53\u5236\u3084\u904b\u55b6\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u304c\u6700\u521d\u304b\u3089\u5b8c\u6210\u3057\u3066\u3044\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u6cca\u904b\u55b6\u3067\u6700\u3082\u5c5e\u4eba\u5316\u3057\u3084\u3059\u304f\u30c8\u30e9\u30d6\u30eb\u304c\u8d77\u304d\u3084\u3059\u3044\u306e\u304c\u3001\u300c\u73fe\u5730\u306e\u6e05\u6383\u30b9\u30bf\u30c3\u30d5\u306e\u78ba\u4fdd\u300d\u3084\u300c24\u6642\u9593\u306e\u30e1\u30c3\u30bb\u30fc\u30b8\u5bfe\u5fdc\u4f53\u5236\u300d\u3067\u3059\u3002M&amp;A\u3067\u3042\u308c\u3070\u3001\u3053\u308c\u307e\u3067\u58f2\u4e3b\u304c\u4f7f\u3063\u3066\u3044\u305f\u4fe1\u983c\u3067\u304d\u308b\u6e05\u6383\u4ee3\u884c\u696d\u8005\u3084\u904b\u55b6\u4ee3\u884c\u4f1a\u793e\uff08\u4f4f\u5b85\u5bbf\u6cca\u7ba1\u7406\u696d\u8005\uff09\u3068\u306e\u5951\u7d04\u3001\u30b9\u30de\u30fc\u30c8\u30ed\u30c3\u30af\u306e\u904b\u7528\u4f53\u5236\u3082\u30bb\u30c3\u30c8\u3067\u5f15\u304d\u7d99\u3050\u3053\u3068\u304c\u3067\u304d\u308b\u305f\u3081\u3001\u904b\u55b6\u30ce\u30a6\u30cf\u30a6\u304c\u306a\u3044\u672a\u7d4c\u9a13\u8005\u3067\u3082\u521d\u65e5\u304b\u3089\u4e0d\u52b4\u6240\u5f97\u306b\u8fd1\u3044\u5f62\u3067\u56de\u3059\u3053\u3068\u304c\u53ef\u80fd\u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%BE%B9%E5%BA%95%E6%AF%94%E8%BC%83%EF%BC%81%E6%B0%91%E6%B3%8AM_A%E3%81%AE2%E5%A4%A7%E3%82%B9%E3%82%AD%E3%83%BC%E3%83%A0%EF%BC%88%E6%A0%AA%E5%BC%8F%E8%AD%B2%E6%B8%A1_vs_%E8%B3%87%E7%94%A3%E8%AD%B2%E6%B8%A1%EF%BC%89\"><\/span>\u5fb9\u5e95\u6bd4\u8f03\uff01\u6c11\u6ccaM&amp;A\u306e2\u5927\u30b9\u30ad\u30fc\u30e0\uff08\u682a\u5f0f\u8b72\u6e21 vs \u8cc7\u7523\u8b72\u6e21\uff09<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u6ccaM&amp;A\u3092\u9032\u3081\u308b\u4e0a\u3067\u3001\u6700\u3082\u91cd\u8981\u306b\u306a\u308b\u306e\u304c\u300c\u3069\u306e\u3088\u3046\u306a\u624b\u6cd5\uff08\u30b9\u30ad\u30fc\u30e0\uff09\u3067\u8b72\u6e21\u3059\u308b\u304b\u300d\u3067\u3059\u3002\u5b9f\u52d9\u3067\u4f7f\u308f\u308c\u308b2\u3064\u306e\u624b\u6cd5\u306b\u306f\u3001\u6cd5\u5f8b\u4e0a\u30fb\u624b\u7d9a\u304d\u4e0a\u3067\u6c7a\u5b9a\u7684\u306a\u9055\u3044\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div class=\"is-style-stripes\" style=\"overflow-x: auto; -webkit-overflow-scrolling: touch; margin-bottom: 1.5em;\">\n  <table style=\"min-width: 600px; width: 100%; border-collapse: collapse; font-size: 14px; line-height: 1.6;\">\n    <thead>\n      <tr style=\"background-color: #dee8fa; border-bottom: 2px solid #b0c4de;\">\n        <th style=\"padding: 12px; text-align: center; font-weight: bold; width: 20%;\">\u6bd4\u8f03\u9805\u76ee<\/th>\n        <th style=\"padding: 12px; text-align: left; font-weight: bold; width: 40%;\">\u682a\u5f0f\u8b72\u6e21\uff08\u4f1a\u793e\u4e38\u3054\u3068\u306e\u8cb7\u53ce\uff09<\/th>\n        <th style=\"padding: 12px; text-align: left; font-weight: bold; width: 40%;\">\u8cc7\u7523\u8b72\u6e21\uff08\u7269\u4ef6\u30fb\u8a2d\u5099\u306e\u307f\u306e\u8cb7\u53ce\uff09<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n      <tr style=\"border-bottom: 1px solid #e0e0e0;\">\n        <td style=\"padding: 12px; text-align: center; font-weight: bold; background-color: #f9fbfd;\">\u8a31\u8a8d\u53ef\u306e\u627f\u7d99<\/td>\n        <td style=\"padding: 12px; text-align: left;\"><strong>\u305d\u306e\u307e\u307e\u81ea\u52d5\u627f\u7d99\uff08\u30bf\u30a4\u30e0\u30e9\u30b00\uff09<\/strong><br>\u6cd5\u4eba\u306e\u682a\u4e3b\u304c\u5909\u308f\u308b\u3060\u3051\u306a\u306e\u3067\u3001\u4f1a\u793e\u304c\u6301\u3064\u300c\u65c5\u9928\u696d\u8a31\u53ef\u300d\u3084\u300c\u6c11\u6cca\u5c4a\u51fa\u300d\u306f\u305d\u306e\u307e\u307e\u7dad\u6301\u3055\u308c\u307e\u3059\u3002<\/td>\n        <td style=\"padding: 12px; text-align: left;\"><strong>\u539f\u5247\u3001\u518d\u7533\u8acb\uff08\u65b0\u898f\u53d6\u5f97\uff09\u304c\u5fc5\u8981<\/strong><br>\u904b\u55b6\u3059\u308b\u300c\u4e3b\u4f53\uff08\u540d\u7fa9\uff09\u300d\u304c\u5909\u308f\u308b\u305f\u3081\u3001\u8cb7\u4e3b\u306e\u540d\u7fa9\u3067\u65b0\u305f\u306b\u4fdd\u5065\u6240\u3078\u8a31\u53ef\u7533\u8acb\u3084\u5c4a\u51fa\u3092\u884c\u3046\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/td>\n      <\/tr>\n      <tr style=\"border-bottom: 1px solid #e0e0e0; background-color: #fcfcfc;\">\n        <td style=\"padding: 12px; text-align: center; font-weight: bold; background-color: #f9fbfd;\">\u5404\u7a2e\u5951\u7d04\u306e\u5f15\u304d\u7d99\u304e<\/td>\n        <td style=\"padding: 12px; text-align: left;\">\u4e0d\u52d5\u7523\u306e\u8cc3\u8cb8\u501f\u5951\u7d04\u3001OTA\uff08Airbnb\u7b49\uff09\u306e\u30a2\u30ab\u30a6\u30f3\u30c8\u3001\u4ee3\u884c\u4f1a\u793e\u3068\u306e\u5951\u7d04\u304c\u305d\u306e\u307e\u307e\u6b8b\u308b\u305f\u3081\u3001\u5b9f\u52d9\u304c\u975e\u5e38\u306b\u30b9\u30e0\u30fc\u30ba\u3002<\/td>\n        <td style=\"padding: 12px; text-align: left;\">\u5927\u5bb6\u3055\u3093\u3068\u306e\u8cc3\u8cb8\u501f\u5951\u7d04\u306e\u7d50\u3073\u76f4\u3057\u3001OTA\u30a2\u30ab\u30a6\u30f3\u30c8\u306e\u65b0\u898f\u4f5c\u6210\u3001\u5404\u7a2e\u30d9\u30f3\u30c0\u30fc\u3068\u306e\u518d\u5951\u7d04\u304c\u5fc5\u8981\u3002<\/td>\n      <\/tr>\n      <tr>\n        <td style=\"padding: 12px; text-align: center; font-weight: bold; background-color: #f9fbfd;\">\u7c3f\u5916\u50b5\u52d9\u306e\u30ea\u30b9\u30af<\/td>\n        <td style=\"padding: 12px; text-align: left;\">\u4f1a\u793e\u3092\u4e38\u3054\u3068\u8cb7\u3046\u305f\u3081\u3001\u58f2\u4e3b\u306e\u904e\u53bb\u306e\u672a\u6255\u3044\u7a0e\u91d1\u3084\u501f\u5165\u91d1\uff08\u7c3f\u5916\u50b5\u52d9\uff09\u3092\u5f15\u304d\u7d99\u3050\u30ea\u30b9\u30af\u304c\u3042\u308a\u3001\u53b3\u5bc6\u306aDD\u304c\u5fc5\u8981\u3002<\/td>\n        <td style=\"padding: 12px; text-align: left;\">\u7279\u5b9a\u306e\u300c\u8cc7\u7523\u300d\u3060\u3051\u3092\u5207\u308a\u96e2\u3057\u3066\u8cfc\u5165\u3059\u308b\u305f\u3081\u3001\u58f2\u4e3b\u306e\u4f1a\u793e\u306e\u8ca0\u50b5\u3084\u30c8\u30e9\u30d6\u30eb\u3092\u5f15\u304d\u7d99\u3050\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u305b\u3093\u3002<\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u203b\u306a\u304a\u3001\u8fd1\u5e74\u306e\u6cd5\u6539\u6b63\u306b\u3088\u308a\u3001\u65c5\u9928\u696d\u6cd5\u306b\u304a\u3044\u3066\u3082\u7279\u5b9a\u306e\u300c\u4e8b\u696d\u8b72\u6e21\u300d\u624b\u7d9a\u304d\u3092\u8e0f\u3080\u3053\u3068\u3067\u3001\u500b\u4eba\u306e\u58f2\u8cb7\uff08\u8cc7\u7523\u8b72\u6e21\u306b\u8fd1\u3044\u5f62\uff09\u3067\u3042\u3063\u3066\u3082\u4e8b\u524d\u627f\u8a8d\u3092\u5f97\u308c\u3070\u8a31\u53ef\u3092\u627f\u7d99\u3067\u304d\u308b\u30b1\u30fc\u30b9\u304c\u5897\u3048\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u81ea\u6cbb\u4f53\uff08\u4fdd\u5065\u6240\uff09\u3054\u3068\u306e\u30ed\u30fc\u30ab\u30eb\u30eb\u30fc\u30eb\u304c\u5f37\u3044\u305f\u3081\u3001\u4e8b\u524d\u306e\u78ba\u8a8d\u304c\u7d76\u5bfe\u6761\u4ef6\u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%B0%91%E6%B3%8AM_A%E3%81%AE%E5%AE%9F%E5%8B%99%E3%81%A7%E7%B5%B6%E5%AF%BE%E3%81%AB%E5%A4%96%E3%81%9B%E3%81%AA%E3%81%843%E3%81%A4%E3%81%AE%E3%83%AA%E3%83%BC%E3%82%AC%E3%83%AB%E3%83%81%E3%82%A7%E3%83%83%E3%82%AF\"><\/span>\u6c11\u6ccaM&amp;A\u306e\u5b9f\u52d9\u3067\u7d76\u5bfe\u306b\u5916\u305b\u306a\u30443\u3064\u306e\u30ea\u30fc\u30ac\u30eb\u30c1\u30a7\u30c3\u30af<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u6cca\u306e\u8cb7\u53ce\uff08M&amp;A\uff09\u3092\u6210\u529f\u3055\u305b\u308b\u305f\u3081\u306b\u306f\u3001\u5951\u7d04\u524d\u306e\u300c\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\uff08DD\uff09\u300d\u306b\u304a\u3044\u3066\u3001\u4ee5\u4e0b\u306e\u30dd\u30a4\u30f3\u30c8\u3092\u5fb9\u5e95\u7684\u306b\u8abf\u67fb\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%91%A0_%E8%B3%83%E8%B2%B8%E7%89%A9%E4%BB%B6%E3%81%AE%E5%A0%B4%E5%90%88%E3%81%AE%E3%80%8C%E5%A4%A7%E5%AE%B6%E3%83%BB%E7%AE%A1%E7%90%86%E7%B5%84%E5%90%88%E3%81%AE%E6%89%BF%E8%AB%BE%E3%80%8D%E3%81%AE%E6%9C%89%E5%8A%B9%E6%80%A7\"><\/span>\u2460 \u8cc3\u8cb8\u7269\u4ef6\u306e\u5834\u5408\u306e\u300c\u5927\u5bb6\u30fb\u7ba1\u7406\u7d44\u5408\u306e\u627f\u8afe\u300d\u306e\u6709\u52b9\u6027<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8ee2\u8cb8\uff08\u30b5\u30d6\u30ea\u30fc\u30b9\uff09\u3067\u904b\u55b6\u3055\u308c\u3066\u3044\u308b\u6c11\u6cca\u4e8b\u696d\u3092\u8cb7\u53ce\u3059\u308b\u5834\u5408\u3001\u5143\u306e\u8cc3\u8cb8\u501f\u5951\u7d04\u66f8\u306b\u300c\u6c11\u6cca\u3068\u3057\u3066\u306e\u5229\u7528\u3092\u8a8d\u3081\u308b\u300d\u300cM&amp;A\u306b\u3088\u308b\u501f\u4e3b\u540d\u7fa9\u306e\u5909\u66f4\u30fb\u4e8b\u696d\u627f\u7d99\u3092\u8a8d\u3081\u308b\u300d\u3068\u3044\u3063\u305f\u6761\u9805\u304c\u660e\u8a18\u3055\u308c\u3066\u3044\u308b\u304b\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002\u3053\u3053\u3092\u78ba\u8a8d\u305b\u305a\u306b\u9032\u3081\u308b\u3068\u3001\u8cb7\u53ce\u3057\u305f\u9014\u7aef\u306b\u5927\u5bb6\u304b\u3089\u300c\u7121\u65ad\u8ee2\u8cb8\u3060\u300d\u3068\u3057\u3066\u5951\u7d04\u89e3\u9664\u3092\u7a81\u304d\u3064\u3051\u3089\u308c\u3001\u4e00\u77ac\u3067\u30a2\u30bb\u30c3\u30c8\u3092\u5931\u3046\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%91%A1_%E8%87%AA%E6%B2%BB%E4%BD%93%E7%8B%AC%E8%87%AA%E3%81%AE%E3%80%8C%E4%B8%8A%E4%B9%97%E3%81%9B%E6%9D%A1%E4%BE%8B%E3%80%8D%E3%81%A8%E7%8F%BE%E5%9C%A8%E3%81%AE%E9%81%A9%E5%90%88%E7%8A%B6%E6%B3%81\"><\/span>\u2461 \u81ea\u6cbb\u4f53\u72ec\u81ea\u306e\u300c\u4e0a\u4e57\u305b\u6761\u4f8b\u300d\u3068\u73fe\u5728\u306e\u9069\u5408\u72b6\u6cc1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u6cca\u65b0\u6cd5\u7269\u4ef6\u3092M&amp;A\u3067\u5f15\u304d\u7d99\u3050\u5834\u5408\u3001\u305d\u306e\u7269\u4ef6\u304c\u3042\u308b\u81ea\u6cbb\u4f53\u306e\u300c\u72ec\u81ea\u6761\u4f8b\uff08\u4e0a\u4e57\u305b\u6761\u4f8b\uff09\u300d\u3092\u518d\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002\u58f2\u4e3b\u304c\u59cb\u3081\u305f\u5f53\u521d\u3088\u308a\u3082\u6761\u4f8b\u304c\u53b3\u3057\u304f\u306a\u3063\u3066\u304a\u308a\u3001\u4e00\u5ea6\u4e8b\u696d\u3092\u30b9\u30c8\u30c3\u30d7\u3057\u3066\u540d\u7fa9\u5909\u66f4\u306e\u5c4a\u51fa\u3092\u51fa\u3059\u3068\u3001\u300c\u73fe\u884c\u6cd5\u3067\u306f\u5e74\u9593180\u65e5\u3069\u3053\u308d\u304b\u3001\u5e73\u65e5\u306e\u55b6\u696d\u306f\u4e00\u5207\u8a8d\u3081\u3089\u308c\u306a\u3044\u30a8\u30ea\u30a2\u3060\u3063\u305f\u300d\u3068\u3044\u3063\u305f\u7f60\u306b\u5d4c\u307e\u308b\u30b1\u30fc\u30b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%91%A2_%E5%BB%BA%E7%89%A9%E3%83%BB%E6%B6%88%E9%98%B2%E8%A8%AD%E5%82%99%E3%81%AE%E3%80%8C%E9%81%95%E5%8F%8D%E9%80%9A%E7%9F%A5%E3%80%8D%E3%82%84%E4%BF%AE%E7%B9%95%E5%B1%A5%E6%AD%B4%E3%81%AE%E7%A2%BA%E8%AA%8D\"><\/span>\u2462 \u5efa\u7269\u30fb\u6d88\u9632\u8a2d\u5099\u306e\u300c\u9055\u53cd\u901a\u77e5\u300d\u3084\u4fee\u7e55\u5c65\u6b74\u306e\u78ba\u8a8d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u68df\u3082\u306e\u306e\u7c21\u6613\u5bbf\u6240\u3084\u30db\u30c6\u30eb\u3092M&amp;A\u3067\u53d6\u5f97\u3059\u308b\u5834\u5408\u3001\u904e\u53bb\u306b\u6d88\u9632\u7f72\u3084\u5efa\u7bc9\u6307\u5c0e\u8ab2\u304b\u3089\u300c\u662f\u6b63\u52e7\u544a\u300d\u3084\u300c\u9055\u53cd\u901a\u77e5\u300d\u304c\u51fa\u3066\u3044\u306a\u3044\u304b\u3092\u5fb9\u5e95\u7684\u306b\u6d17\u3044\u307e\u3059\u3002\u76ee\u306b\u898b\u3048\u308b\u8868\u9762\u4e0a\u306e\u5229\u56de\u308a\u304c\u826f\u304f\u3066\u3082\u3001\u30b9\u30d7\u30ea\u30f3\u30af\u30e9\u30fc\u306e\u8a2d\u7f6e\u7fa9\u52d9\u9055\u53cd\u3084\u3001\u907f\u96e3\u968e\u6bb5\u306e\u4e0d\u5099\u306a\u3069\u304c\u96a0\u3055\u308c\u3066\u3044\u308b\u3068\u3001\u8cb7\u53ce\u5f8c\u306b\u6570\u5343\u4e07\u301c\u6570\u5104\u5186\u898f\u6a21\u306e\u60f3\u5b9a\u5916\u306e\u5de5\u4e8b\u8cbb\u7528\u304c\u767a\u751f\u3057\u3001\u6295\u8cc7\u8a08\u753b\u304c\u5b8c\u5168\u306b\u5d29\u58ca\u3057\u3066\u3057\u307e\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E3%81%BE%E3%81%A8%E3%82%81%EF%BD%9C%E3%83%97%E3%83%AD%E3%81%AE%E7%9B%AE%E5%88%A9%E3%81%8D%E3%81%A8%E6%9C%80%E9%81%A9%E3%81%AA%E3%82%B9%E3%82%AD%E3%83%BC%E3%83%A0%E6%A7%8B%E7%AF%89%E3%81%8C%E6%88%90%E5%8A%9F%E3%81%AE%E9%8D%B5\"><\/span>\u307e\u3068\u3081\uff5c\u30d7\u30ed\u306e\u76ee\u5229\u304d\u3068\u6700\u9069\u306a\u30b9\u30ad\u30fc\u30e0\u69cb\u7bc9\u304c\u6210\u529f\u306e\u9375<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u6c11\u6cca\u4e8b\u696d\u306eM&amp;A\uff08\u8cb7\u53ce\u30fb\u58f2\u5374\uff09\u306b\u304a\u3051\u308b\u30e1\u30ea\u30c3\u30c8\u3001\u30b9\u30ad\u30fc\u30e0\u306e\u9055\u3044\u3001\u6ce8\u610f\u70b9\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<ul 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