Modern types of hospitality, including hotels, hostels and shared accommodation (such as Airbnb) are met with a variety of problems that serviced apartments do not see. We expect that hospitality products requiring visitors to share sleeping and living spaces will be under tremendous strain after this pandemic. This is only our opinion, but we assume that for a long time (if not forever) travellers would be opposed to sharing a bedroom or living space.
This takes us to conventional hotels, where visitors become almost reliant on the usage of open spaces. Primary challenges and implications, as it appears to be are
- Rooms need to be cleaned and linen changed regularly-this involves unnecessary engagement between guests and staff.
- There is no kitchen that causes visitors to strive for alternative solutions-this involves needless interaction with the outside world.
- The increased amount of footfall in the hotel is considerably greater than the serviced apartment-shorter duration of stay, more employees, more amenities-collectively, the number of people engaging inside the building is expected to rise by 2-3 days a week; this makes for a higher likelihood of interaction.
Several of the aforementioned considerations have brought us to the assumption that it is likely to be a decisive moment (and, most significantly, an opportunistic one) in the serviced product life cycle of the building.
The effect and the potential will become much more apparent when we continue to see the gradual change to workplace practices (e.g. fewer office space needed) and the eventual demise of too many companies. The ensuing crucial task for investment homes would be to re-purpose and select occupants for millions of square footage.
An exciting, difficult and opportunistic time is ahead. This modern way of living is bound to stay with us for several months, if not years, and if we are right, and believe that’s going to transform the way we travel for decades to come. However, we always do believe that this moment in time will become important and defining for the serviced apartment business. The question is whether operators and owners can, collectively, reinforce and deliver this message to the consumer to win over modern-day travellers. We, for one thing, don’t see why not.
About AP LBC:
The AP LBC team believes that independent hotels deserve better global recognition, bespoke services and solutions to represent them to the international markets. With a wealth of experience and decision making driven by hotel insights, AP LBC navigates partner hotels in this competitive space, ensuring the right penetration in Corporate, MICE, Leisure and Entertainment segments.
Article Source and reference:
This article was first written by Max Thorn, Chief Executive at The MRP Group.