Big brand hotels adopt newer business models to attract younger travelers
Implications - To stay ahead of the unprecedented growth seen by the share economy and companies like AirBnB, hospitality brands are finding creative ways to join them rather than beat them. Through partnering with P2P startups to offer new accommodation experiences or creating their own shared hospitality platforms, hospitality megaliths are subverting consumer preconceptions of large corporations. By acting small, bigger brands can adapt faster to emerging market trends and recapture the attention of the previously elusive Millennial demographic.
Workshop Question - What smaller brands are on the rise in your industry and how can you collaborate with them instead of competing?
Trend Themes
1. P2P Partnerships - Hospitality brands are partnering with P2P startups to offer innovative accommodations, creating opportunities for small startups to tap into established brands' resources and recapture the Millennial market.
2. Customized Offerings - Hotels are increasingly offering customizable minibar packages, allowing guests to choose their own snacks and refreshments, enhancing their experience and encouraging them to explore hotel amenities.
3. Automated Check-in - Automated P2P check-in services are allowing travelers to collect and leave their keys at any time of day, creating a secure and convenient experience for guests and enhancing their lodging experience.
Industry Implications
1. Hospitality - The hospitality industry can take advantage of P2P partnerships, customized offerings, and automated check-in services to provide innovative experiences, recapture the Millennial market, and enhance guests' experience.
2. Travel - By partnering with P2P startups and offering unique travel options, the travel industry can provide a one-of-a-kind experience, generate new income streams, and empower individuals.
3. Retail - The retail industry can take cues from hotels' customized offerings by allowing customers to choose their own products or services, enhancing their experience and encouraging exploration of the store's amenities.
7 Featured, 55 Examples:
207,233 Total Clicks
Date Range:
Aug 15 — Apr 18
Trending:
Warm
Consumer Insight Topics:
