Putting your money in hotels is one of the best things that investors can do for their investment portfolio. They won’t only diversify their investments and protect their funds, but they’ll also ride the growth of the hospitality industry and enjoy high returns down the road. Perry Group International is a hotel consultant California firm that can assist putting your hotel investments in the right place.
But how exactly can people invest in hotels? Well, there are several options to choose from, and one of these is to construct their own hotel. This isn’t for everyone since it requires huge capital up front and takes up a lot of time and effort. It also comes with significant risks since there’s always the chance that the hotel might not take off. However, for those who have the resources to build their own property and are ready to take the risks, constructing their own hotel is worth the hard work since it offers substantial long-term ROI.
Investors who decide to go down this path need to know about the latest trends in hotel construction. Applying these to their property will help them build a strong brand and attract more guests, while ensuring they won’t get left behind by their competitors. Here are some of the hotel construction trends that investors should be aware of:
Boutique hotels have been around for years, but they’re predicted to become even more popular in the future. One of the biggest reasons for this is that guests now want to have highly individualized experiences that they can’t get anywhere else. People don’t just want to book a room with a bed and some furniture; they want a room that can be an extension of their vacation and make their trip even more enjoyable.
Hoteliers are catering to this demand by creating hotels with themed experiences. Some cater to health-conscious guests by centering their services around fitness and wellness. Others, meanwhile, opt to go hyper-local by basing their design on the look and feel of the town or city where they’re located. A hotel consultant California firm can provide you with themed experiences that are sure to bring new guests to your hotel business.
Increased presence of technology
Smart homes are on their way to becoming ubiquitous, so it’s no surprise that hotels are adopting the concept behind them. Many hoteliers are designing their spaces in a way that guests will be able to customize their room by using their smartphone. Some hotels now allow guests to use their mobile device to lock and open their room, set their desired room temperature and lighting level, and even surf through TV channels. Others, meanwhile, use mobile apps to give their clients access to spas, gyms, and other guest-only areas.
The dual-brand strategy is a trend that is now slowly being adopted by several companies. Basically, this strategy means that two brands would live under one roof, sharing elevators, front desk space, and other facilities. It can be beneficial since it allows the companies to split costs between them and keep competition at a minimum. However, it can also be challenging. They would have to coordinate their interior and exterior designs and ensure one brand doesn’t overpower the other.
These are just some of the latest hotel construction trends that investors must be aware of. Those who want to know more about these trends can get in touch with a hotel consultant California. They can help investors make the right decisions and harness the potential of the hospitality industry.
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