SPECIAL REPORT
and global thought leader for Coherent Market Insights , a global market intelligence and consulting organization , said a recent trend in the global alternative accommodation industry is that hotel chains worldwide are increasingly entering the space . He said they are looking to diversify their portfolio because they realize that alternative lodging is not a
AS CONSUMER DEMAND CONTINUES TO GROW , EXPECT THE SEGMENT TO FOLLOW THE TRAJECTORY OF THE TRADITIONAL HOTEL SPACE , SPECIFICALLY VIA THE INJECTION OF MORE INSTITUTIONAL CAPITAL AND INCREASED FORMATION OF STANDARDIZED BRANDS
– OPHELIA MAKIS , JLL
passing trend but one that is here to stay .
“ These companies , post COVID , are witnessing a shifting consumer preference trend where travelers are choosing to work from anywhere in the world and are selecting rental plans for longer stays or for larger groups in hostels and homestays ,” said Shah . “ These hotel chains are finding a plethora of opportunities owing to this consumer shift and are able to list more properties on their website to attract a larger group of customers .”
RAMPING UP The popularity of digital platforms like Airbnb and Vrbo shows that consumer demand for alternative lodging is on the rise . And more companies are jumping in to meet the growing demand .
“ There ’ s been an increase in experiential companies that cater toward consumers seeking authentic travel . Institutional capital has taken note ,” said Makis , illustrated by Summit Hotel Properties , a real estate investment trust , acquiring 90 % of glamping company Onera Escapes last November . The partnership is reportedly the first standalone glamping investment from a public REIT in the fastgrowing segment .
Getaway cabins include outdoor fire pits and a strong connection to nature .
30 hotelsmag . com Mar / Apr 2023