The hotel industry might not like Airbnb , but its existence , along with the likes of WeWork , has served as a needed wakeup call . Hoteliers are answering the bell by launching businesses that Hyatt Hotels Corp . has dubbed “ adjacent spaces .”

Hyatt furthered its position in wellness with acquisitions of Miraval Group and the Exhale gym brands , and it jumped into luxury vacation rentals with Oasis — handpicked homes in 20 cities that include fresh linens and familiar hotel toiletries , as well as loyalty program differentiation . Its plans to develop these businesses are not just about improving the hotel experience . Rather , Hyatt

wants to market its wellness services in freestanding spaces or provide service inside corporate offices . “ We ’ re looking at how we can care for our members in new ways and new places ,” says Hyatt Senior Vice President Marc Ellin .

It ’ s a way to reclaim ownership of the guest relationship , says Bjorn Hanson , a professor at New York University ’ s Tisch Center for Hospitality and Tourism . They can do that by offering different amenities and experiences — and even reimagining hotel design .

Another way into adjacent spaces : throwing a lot at the wall to see what sticks . During the past few years , AccorHotels has added a digital booking business for

independent hotels . It also created AccorLocal , which provides concierge-like services for the community , part of a plan to make its brands part of consumers ’ everyday lives . “ You have to accept that you ’ re not going to be right all the time ,” CEO Sébastien Bazin said in an interview last year .

Others are building rental businesses . Madrid-based Room Mate Hotels in 2014 launched BeMate . com for short-term apartment rentals . It manages more than 10,000 units in a dozen cities and sold more than 80,000 nights last year , the company says .

“ It ’ s a challenge for lodging companies to find an economic model that works in the sharing economy ,”

Hanson says . Hotel owners negotiate management contracts that typically peg 12 % to 16 % revenue . Franchise agreements typically involve fees of 7 % to 12 %. “ In the shared economy , operators don ’ t get that much , plus the transaction value is lower ,” he says . “ They can ignore it or accept the lower margin . Some brands will be more valuable than others but they all contribute .”

Marriott International ’ s Ritz-Carlton is taking a plunge into luxury yachting . Through a partnership , it plans to sail three cruisers beginning in 2019 . Yachts are free of some of the constraints on hotels such as limited site options , competitors and

24 hotelsmag . com June 2018