Capturing the attention of Millennials is key to the present-day and long-term success of hotels and resorts. This generation of consumers is in tune with their creative side and has an insatiable desire for new experiences. If Millennials are going to fork over the cash to book a room at a hotel room rather than couch-surf or reserve a room through Airbnb, there are a handful of things they have come to expect—and identifying those things has made the hotel brand Ace king among Millennials.

Ace's reign has not gone unnoticed by other major players within the hotel industry. Leading brands like Starwood and Hilton are following Ace's cue, and are ramping up their own efforts to attract Millennials, with good reason too, as this generation is estimated to spend $4.1 trillion annually within the next 5 years.

Here's how three hotel chains are answering Ace's efforts:

Canopy by Hilton

Canopy could be interpreted as Hilton's attempt to distance itself from its corporate image and appeal to today's younger traveler. John T.A. Vanderslice, the global head of luxury and lifestyle brands at Hilton Worldwide was quoted in a recent article saying, "Canopy is the energizing new hotel in the neighborhood offering simple, guest-directed service, thoughtful local choices, and comfortable spaces, so guests simply feel better going forward."

Canopy's mission statement makes its goal of being a "neighborhood hotel" even clearer: "Canopy is all about being local, through design, food and beverage, art and knowledge. No two Canopy hotels will be the same, and we know that's what our guests want."

Millennials are leading this trend toward "product localization" in an era that has seen a renaissance in locally sourced, handcrafted goods. This resurgence in people's interest in and value of artisanal goods creates an interesting opportunity for the travel industry. By incorporating foods and other things from local small businesses, and coordinating with local organizations for social events, hotels like Canopy have made brilliant strides to compete with Ace and others for Millennial travelers.

Aloft Hotels by Starwood

Another key trait Millennials possess is the desire for memorable experiences of physical places and objects. With their new brand Aloft, Starwood has focused on this characteristic by emphasizing the idea that staying at an Aloft Hotel is an experience in itself.

Furthermore, Aloft is going to great lengths to identify with Millennials' insatiable desire to be connected. In their about page, the company makes certain to highlight not only the hotel's stylish décor, but also one of the hotel's main pillars: its bar. W XYZ is the name of the bar inside of every Aloft Hotel. It's described as the hub of all the entertainment related aspects for guests during their stay. Aloft encourages its guests to not only relax, but to make new relationships, business connections, and be open to new experiences.

By creating an atmosphere that feels like a social event from the moment guests step into a hotel, Aloft is carving out a niche as the go-to destination for young travelers who have a desire to feel connected to their peers. At many of their locations, the hotel collaborates with local organizations to put on events specifically for locals to meet, network, and socialize after work. These events are called Social Tuesdays, and provide a perfect opportunity for Millennials to be exposed to new people or ideas that may spark their interest. Through Aloft, Starwood is—in a sense—bringing social networks to life.

Wythe Hotel

The Wythe Hotel is among a handful of independent hotels that have decided the future of the industry lies in catering to the young travelers of today. The hotel is achieving this, however, in an unconventional way. Though Millennials have come to expect things like ordering a burger at 5 a.m. to be as easy as opening an app, the Wythe Hotel has forgone things like room service in their hotel's repertoire of amenities.

The reason for this is that its founders believe, like the executives behind Canopy, that a hotel should be an extension of the community it is located in, and not providing room service for food forces its guests to go out and explore the food options available in the neighborhood.

This philosophy also reduces the hotel's overall cost, appealing to another key characteristic of Millennials: their desire to travel cheaply.

For innovators like Andrew Tarlow, founder of the Wythe Hotel, the keys to successfully reaching today's consumer are to be green, health-oriented, and connected to its local community. Every detail in Wythe's room's aims to make guests feel more closely connected to its home borough of Brooklyn in New York City. The mini bars are stocked with handmade ice cream, artisanal soaps made in Brooklyn can be found in the bathroom, and even the wallpaper that adorns their rooms is made locally.

As more hotels begin to invest in creating atmospheres where guests feel immersed in the local culture of the places they are visiting, Millennials will have more trendy options to consider alongside their Airbnb search. If the trend continues as such, Ace hotel's days at the top may numbered.

Abi Mandelbaum is Co-Founder and CEO of YouVisit, the global leader in creating virtual tours and virtual reality experiences for a variety of industries, including hospitality, real estate, travel, events, education, factories, and more.