Modern Trends in US Hotel Development
At American Life, Inc., many of our top investor opportunities are in the hotel development industry. Over the years, the hospitality industry has evolved, and as our demographics shift and economy changes, new trends emerge. Today, we’ll explore some of the top trends in hotel development.
Millennials. You’ve probably heard a lot about this younger generation group, and they continue to make an impact on the way hotels deliver service. In fact, we expect Millennials to make up half of all travelers in the US by 2025, so catering to this group is an important trend. Millennials want an extraordinary experience that takes them out of their comfort zones – something they can be the first to try and share with their friends. They’re spontaneous, they travel a lot, and they are quick to adopt new technology. They share their opinions about everything – including hotels – on social media, and trust the advice of their friends. Understanding the needs of this group is important when developing hotels and services to accommodate travelers.
Technology. With everyone carrying multiple devices, top-notch connectivity is a must for any hotel. Most travelers are tech savvy and demand conveniences like easy-access chargers in guestrooms, high-bandwidth, high-speed internet in every room, and an exceptional digital experience throughout the booking process and at the hotel. For large hotels with conference facilities, meeting planners expect to use their high-tech strategies, so exceptional internet capacity is a must, not a luxury.
Wellness. As people focus more on their health and wellbeing, wellness travel has become a $500 billion-plus industry. Hotel developers need to consider features like natural air and lighting, exceptional spa and fitness center capabilities, space for in-room exercise equipment and more.
Sustainability. Like wellness, sustainability is a growing trend. Eco-friendly energy and water sources are important considerations as hotel developers make design decisions. Some sustainable options include air conditioners and lights that turn off as guests leave their rooms.
Today’s hotel developers are working through all the trends when designing hotels that will serve the modern traveler. And at American Life, Inc., we’re continually following the latest trends to make hotel development investment decisions that will get the best returns for our clients’ portfolios. If you would like to add US hotel and commercial development to your portfolio, contact American Life, Incorporated today. Our investment professionals will help you choose the best opportunity for you. Contact us online, call us at 206-381-1690, or visit US office at 2710 S. Hanford Street, Suite 100, in Seattle, Washington or any of our international offices in Shanghai, Tokyo, or London.