With the rise of disruptive services like Airbnb, the world’s largest hotel brands are finding themselves having to keep up with evolving times. Airbnb is projected to earn over $3 billion dollars by 2020 as it continues to broaden its listings around the world.
This isn’t to say that hotels will soon become a thing of the past. Dubai is a major tourist destination that has seen its rate of hotel rooms grow exponentially from just over 30,000 rooms back in 2007 to more than 130,000 by the end of this year. Hence, it’s not so much that hotels are going the way of the dinosaur as it is a representation of how hotels are adapting.
For example, there has been considerable progress made in creating hotel experiences catering to the demographic of millennials. This generation has a strong sense of wanderlust and hotels are responding by creating modern, “hip” brands focusing on what matters to them. This may include authentic local experiences, the latest in gadgets and technology such as smartphone-controlled devices, or appealing to “foodies”.
These changing trends in the hospitality industry are forcing luxury hoteliers to think outside the box and create new experiences, a perk for anyone seeking to try something novel and new.
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