Changing demographics are driving some hotel trends said John Chang, senior vice president, research services, at Marcus & Millichap, during a hospitality market–focused presentation. The Marcus & Millichap Webinar: Hospitality Investment Forecast noted 57 percent of millennials and Gen Z were interested in travel — more than homeownership or starting families.
“We’re seeing travel interweaving into the lifestyle of the millennial generation,” said Chang. He also noted younger people are looking for hotels that are “much more experiential in nature.”
For hotels interested in attracting younger guests, Marcus & Millichap pointed to technology, sustainability and pet-friendliness, in addition to luxury amenities and emotional experiences.
And part of marketing to younger generations may involve social media platforms such as photo-sharing Instagram. Chang pointed to the rise of Instagram and how some hospitality brands are focusing on “the idea that you need to have a photo-esque platform” that appeals to “influencers.”
Hotels looking to appeal to younger generations will need to provide the photogenic background to the adventures people are having and then sharing online. Some hotel brands, such as Moxy Hotels or The Hoxton, have used Instagram as an integral part of their marketing strategy. From the choice of colors to cocktails, presentation is everything.
Of course, there may be some pitfalls in this approach: hotel owners would be wise to distinguish between the elite influencers and the wannabes.
