Can Big Brands Disrupt The Disruptors?
Hotel brands are in the best position to reclaim the top choice for consumer travel and lodging once the pandemic fades away.
COVID-19 has potentially changed everything—ushering in the possibility for brands to disrupt the disruptors.
Predictable and boring amenities and designs shared by brands ushered in independent boutique hotels, allowing for unique experiences and celebrations of local culture and art. High costs ushered in Airbnb, allowing travelers in the millennial generation access to neighborhoods and travel that they never had access to previously. Now with demand at historic lows and health and hygiene being the ultimate goal, brands are uniquely positioned to put a large number of these competitors out of business.
A lot has happened since the tides shifted away from brands with their investment in new flags, design, technology and management philosophy that answer the needs of a changing consumer. Independent hotels have continued to stay relevant and Airbnb has continued its market growth unchecked.
With a global pandemic, the tide has changed. I'm sure you've heard that in cities across the country, Airbnb units have been listed for sale. Owners not able to make the payments on them while empty has forced these small business owners to exit completely while the real estate market can still support it.
