Publications

- December 1, 2020: Vol. 32, Number 11

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All in on hotelization? Real estate is transforming from a product to a service

by Chiang Ling Ng and Jose Pellicer

Today’s environment has forced people to find new ways of functioning. Many of us continue to work from home, while a growing proportion of our shopping is conducted online. Increasing digitization has shone a light on the concept of living and working flexibly. Within real estate, this has been a growing trend in recent years. Flexible working has become an established part of office culture. Likewise, the convenience of online shopping has fueled a boom in ecommerce. As a result, we have seen the rise of serviced office operators and omni-channel retailing.

Greater demand for flexibility across all aspects of peoples’ lives has altered the requirement from real estate. Buildings must offer more than simply physical space; they must observe users’ personalized needs. This has promoted the “hotelization” of real estate — the notion of real estate as a service. As the name suggests, this constitutes space that draws parallels with the hotel sector, where focus is p

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