Most recently Marriott bought Starwood Hotels and Resorts for $12.2 billion, making it the largest hotel company in the world.
The report looks at how Starwood’s niche brands – W and Aloft – cater to the Millennial generation (hip, open lobbies; stylish guest rooms; technology in odd places; work stations to plug in laptops). I’ve been writing about how the hotel industry is doing just that, but not necessarily winning back the Millennial generation.
Instead it’s Airbnb that’s taken over the industry, thanks to its flexibility and human interaction element.
What hotel chains need to do is embrace the Moment Economy. Bring in concerts and special shows geared to Millennials. They’ll come, stay after, and bring money to your hotel.