Technology is Changing Hotels
From the rise of Millennials to the advent of Airbnb, the last decade has seen a number of trends that have dramatically influenced the hospitality industry. Here’s a look at some of the ways hotels have been changing to meet the demands of modern times.
1. Focused Service Hotels
Hotels used to include swimming pools, fitness centers and other amenities in an effort to be all things to all people. Today there’s been a shift to focused service hotels that design their brand around the needs of specific segments such as business and conference travelers, or event hosting.
2. Decline in Surge Pricing
Hotel room pricing used to follow the fluctuations of supply and demand, rising during peak times like sporting events or conventions. Airbnb has become a viable alternative to traditional lodging, forcing hotels to be more competitive with pricing.
3. Expansion of Brands
At one time, hotels built their brand around a recognizable profile that let travelers know exactly what to expect. Now major players such as Hilton and Marriott encompass a wide range of brands to capture market share in all segments, from budget to luxury.
4. Influence of Millennials
Many hotels are integrating features and amenities to accommodate tech-savvy guests in their 20s and 30s who are prone to combine leisure with business travel.
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