Hotel ownership is an excellent revenue source. If you’re looking for ways to diversify your portfolio, then investing in a hotel property can be the right financial decision for you. Before you talk to your hotel brokers, read up on the following major hotel trends for the year. This can influence you in the kind of qualities and amenities you’ll want to look for or consider adding when you buy a hotel for sale by owner.
That’s one of the leading trends that impact hotel design. Guests want hotels that provide them with the greatest convenience. If you want your occupancy rate to be high, then this is something you’ll want to factor in when you add enhancements to the property.
More and more guests are looking for shared communal spaces. This can be anything from common lounging areas, spas, gyms, play area, and even a common kitchen. If you are determined and committed to providing your guests with an elevated experience, then this is going to influence the way you design and build spaces in your hotel.
Another growing trend is technology adoption. Hotels that want to get millennials and Gen Z will need to communicate in platforms that matter to these generations. That’s going to mean using diverse technologically-savvy ways to get their attention. Using technology to provide them with an immersive experience is also a must. With the way today’s travelers differ from generations before them, hotels that want to win their business will need to know how to leverage technology to meet those expectations.
Instead of one-size-fits-all campaigns, hotels can also rely on AI and ML to improve efficiency levels at their hotels. For instance, customers get options that are personalized and tailored to their preferences and needs. Are they vegetarians or on a special diet? Your campaigns should provide them with healthy food options. If they’re looking for lower accommodation costs, your bot can send them information on how the lowest accommodations in your hotels for that week or month. With a personalized experience, hotels are bound to get more guests.
Still, the best trend is merging technology with the human touch. Finding ways to make technology improve your processes all while delivering meaningful interactions to guests will keep you at the top of your client’s list.
Can’t wait to start on those improvements? Talk to hotel brokers from NewGen Advisory for property investments.