New-Age Hospitality - #TRT
Traditionally, "hospitality" brings a few household names to mind. Hilton. Four Seasons. The Hyatt. Different strokes for different folks, but hotel chains dominate mindshare when it comes to their industry. That will not be true for much longer, seeing as brands are tapping into hospitality markets for niche-interest stays.
In the past ten years, we've see boutique hotels in the mainstream. We've also experienced declining interest in hotel stays. Many consumers are opting for Airbnb or Homeaway instead of a traditional hospitality experience. That's exactly why new-age hospitality looks a little different. In 20 years, you'll be able to tell a lot more about a person by their hotel of choice. It's not just about signature-scented candles anymore.
Fitness giants have already secured their spot in the space. For example, Equinox is launching a hospitality brand, with their first hotel opening in 2018. The company will obviously target a demographic of fitness-focused travelers. According to The Wall Street Journal, the hotel will feature the largest Equinox gym to date, spanning 60,000 square feet. Not to mention, an indoor and outdoor pool. According to the same report, Equinox plans to open up to 75 hotels world-wide.
The trend has taken on a new industry, with home-focused retailers making their way into the conversation. For example, the first two West Elm hotels will open in Detroit and Savannah in 2018. They're not the only at-home brand vying to make their name in the hospitality space. Restoration Hardware is set to open a 14-room hotel in the meatpacking district in NYC.
If you think about it, it's pretty genius. Have you ever wanted to take a hotel robe home with you? Yeah. Now, make that a $3,000 bed.