The popularity of Airbnb has significantly affected the hotel industry. One of Airbnb's fundamental value propositions is the concept of authenticity, but the hospitality and tourism literature is scant regarding what constitutes an authentic consumption experience in the lodging industry and how such authenticity generates brand loyalty. This study identifies two distinct pathways through which an authentic consumption experience influences brand loyalty for the leisure traveler: a brand pathway and an experience pathway. We find that hotels and Airbnb leverage these pathways differently to generate brand loyalty. These findings have implications for hotels and Airbnb in terms of guest loyalty. •Authenticity of the consumption experience a key differentiator for sharing economy providers in accommodations.•Little research in the hospitality literature on the components and consequences of authentic consumption experiences.•Study develops a model of consumption authenticity and identifies, operationalizes, and measures its components.•Identifies two distinct pathways through which consumption authenticity influences brand loyalty.•Hotels and Airbnb leverage the pathways differently in generating brand loyalty.