Is it worth investing in budget hotels?
Low price elasticty but products easier to manage? One where brand image can sometimes be negatively perceived by customers, but the development of totally innovative offers is rife? The budget hotel sector is quietly undergoing a revolution. However, this does not prevent certain historical players from maintaining a growth rate that would make many brands green with envy.
Low price elasticty but products easier to manage? One where brand image can sometimes be negatively perceived by customers, but the development of totally innovative offers is rife? The budget hotel sector is quietly undergoing a revolution. However, this does not prevent certain historical players from maintaining a growth rate that would make many brands green with envy. Fabrice Collet, CEO of B&B Hotels, will share his vision and analysis of the sector at the Hospitality Asset Forum on 21st November.
The performance of these asset types during the Covid-19 crisis merits further discussion at the Hospitality Asset Forum. While a significant portion of the European hotel supply struggled to fill its properties, budget hotels were able to capitalise on a more local clientele and maintain a service for corporate clients who needed to travel for business despite the restrictions. Leisure and corporate customers, young and old travellers, individuals and groups have turned to offers that are easier on their wallets.