With the rise of services like Airbnb that feature vacation homes rented by owners, travelers have more varied lodging options than ever before. This industry development has had a measurable effect on the profitability of hotels.

Members of Forbes Real Estate Council offer tips for hotels looking to compete with by-owner vacation rentals.— Photo by ForbesMembers of Forbes Real Estate Council offer tips for hotels looking to compete with by-owner vacation rentals.— Photo by Forbes
Members of Forbes Real Estate Council offer tips for hotels looking to compete with by-owner vacation rentals.— Photo by Forbes

While it may seem like bad news for traditional hospitality businesses, there's plenty that hotels can do to keep filling their rooms. According to experts at Forbes Real Estate Council, attracting guests is all about differentiating yourself from owner-rented properties and adapting to what modern travelers want. Here's how you can successfully market your hotel and recapture Airbnb travelers.

1. Stock Up The Breakfast Bar

Hotels have the advantage of ease of transaction and access, whereas renting someone else's home can present complexities. However, one appeal of Airbnb is not having to eat every meal out. Hotels that provide some typical breakfast dishes that can be eaten in the room or near the lobby, like the breakfast buffet, and that aren't big time and calorie expenditures can counteract this. - Deborah Rabbino Bhatt, Vesta New York

2. Focus On Hotel Hospitality

Airbnb not only captures travelers who want to belong in the place they are visiting, whether short or long term, but also provides a unique experience. Being able to submerge in a local culture, or stay within walking distance of hip coffee shops, serves as a much more exclusive experience than most hotel chains can offer. Hotels should lean into the hospitality, events and room service to capture visitors. - Beatrice de Jong, Open Listings (YC W15)

Read the full article at Forbes