trademark for product strategy

We want to register a name for our startup and use a similar name to our competitor. What is the legal issues with this strategy? For example, say it's a business for hotels and guest houses (only example, our product is other). And we call it "flairBnB" and register flairBnB.com. On one hand we get many visitors and customers would recognize the name. So we can piggyback of the competitor's name. But this is the same business so would the competitor be successful for trademark lawsuit? What is the legal issues with this strategy? What strategy would you advise?