Hotels go after long-stay guests
The future of lodging will more likely involve rising fights as hotels and short-term rental providers go after the same travelers
Many people assume that hotel operators and short-term rental managers are fighting for the same customers. But they’re not, said executives at last week’s Skift Global Forum 2023. Hotels tend to attract guests with different needs than short-term rentals do, the industry leaders argued.
Key takeaways
- Hotels have been eagerly expanding into extended-stay and serviced- or micro-apartments, with hotel groups including Marriott, Hyatt, Wyndham and BWH launching extended-stay brands;
- They’ll start to invade each other’s turf. Up until now, the geographic footprints haven’t overlapped much, but the more hotels spread out, the more they’ll compete;
- Airbnb is promising investors continued growth in revenue, which at some point will make short-term rental and vacation rental operators increasingly competing for hotel guests.
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