The number of international hotel projects continues to grow, driven by an evolving market and its trends, which offer new products tailored to every budget; brands are reinventing themselves, and this is when innovative new hotels begin to open. The promotion of urban destinations, combined with the rise of luxury in the hotel industry, is driving further growth in economies experiencing rapid expansion, such as Russia and China.
Hotel operators have diversified their strategies into new, little-known market niches and have focused their efforts on opening more than 1,300 hotels worldwide and developing approximately 5,000 hotel projects, some of which are in Europe and Asia. The international hospitality industry It also boosts employment in all these regions of the world, with a wide range of job opportunities and new executive positions within the organizational structure, such as the “Guest Experience Manager”; who is responsible for managing and optimizing all interactions with customers, with the goal of continuously improving the quality of customer service and the services provided.
“Stay close to your customers—so close that you’re the one telling them what they need, long before they realize they need it.”
Steve Jobs
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Growth of the International Hotel Industry in Leading Destinations
In light of industry trends, destinations with the greatest potential for development are emerging as leading vacation spots, with a proliferation of 4- and 5-star hotels opening their doors in historic buildings and centuries-old mansions, or sites currently undergoing restoration to provide tourists with the hospitality they deserve—as is the case in Porto and Lisbon, urban destinations that welcome thousands of foreign tourists each year.
If we look at destinations such as Asia and the Pacific, there are many projects in the early stages, but even so, there is already a considerable number of hotel projects underway. Europe is in a growth phase, so as the economy recovers, several countries have already made larger investments in the sector, signaling a period of greater growth for 2018.
Innovation in Services
New hotel projects are emerging with innovative services, moving away from the image of the typical sun-and-beach vacation hotel and evolving into designer hotels and boutique hotels with more cosmopolitan styles. There are other options for international hospitality industry that are considered when launching new ideas designed to enhance the tourist experience; some examples of this include hotels built from discarded shipping containers, the first of which was Dock Inn which took place in Germany. Another example is caravan hotels, where guests can sleep in a vintage caravan, or even glass hotels nestled in the middle of nature, as seen in countries like Norway.
In recent years, the Scandinavian countries have seen an increase in their RevPAR and in the number of foreign tourists. The entry of platforms such as Airbnb into the industry has led to a rise in low-cost vacation rentals, which has slowed the entry of large hotel chains into the market.
Themed hotels offer the chance to enjoy a unique experience in a variety of creative settings, thanks to inspiring spaces that provide the same level of comfort as any other type of room.
Ultimately, being able to enjoy the essentials—resting, relaxing, and unwinding in different settings—makes guests believe in the demand for new hotel projects with character and a unique selling point.
Demand for hotels is growing—and growing by leaps and bounds—around the world. The hotel sector is very close to reaching the current investment cycle, which means we are facing a changing and very optimistic outlook for the international hotel market.
