What’s Ahead for the Next Gen of U.S. Hotel Franchisees?
Big hotel chains like Marriott, Hilton, and others are moving increasingly to an asset-light strategy, signing on more franchisees. Many are still owned by individuals and families: How diverse and adaptable will the next generation of hotel owners be?
Big hotel chains like Marriott, Hilton, and others are moving increasingly to an asset-light strategy, signing on more franchisees. Many are still owned by individuals and families: How diverse and adaptable will the next generation of hotel owners be?
Grey Raines' family got into the hotel business in the 1950s.
At 38, he is carrying the mantle as president of Raines Hospitality, which will have 20 hotels by early 2020. The Florence, South Carolina-based company has Marriott, Hilton, Hyatt, and Choice hotels in its portfolio.
Raines started out in the family business as a short order cook at a Courtyard Marriott when he was 15 years old. Since then, he has seen dramatic changes in the industry.
The proliferation of brands, new technology, and competition from online travel agencies and home sharing businesses such as Airbnb have made being a hotel owner more difficult, presenting unique challenges for the next generation of hotel franchisees.