Developing an independent hotel is an exciting challenge in the contemporary hotel industry. Independent hotels, unlike hotel chains, offer a unique opportunity to create personalized and authentic experiences.
In this article, we will explore the essential fundamentals of what is involved in establishing an independent hotel. We will also assess how market trends are shaping this exciting sector.
Additionally, we will examine the advantages and challenges faced by those looking to enter this ever-evolving field. As we unravel the key concepts involved in developing an independent hotel, we will understand the expectations and possible future directions of this exciting market.
TO DEVELOP AN INDEPENDENT HOTEL IT IS NECESSARY TO KNOW WHAT THEY ARE
To develop an independent hotel, the most basic thing to know is its definition. Therefore, an independent hotel is a hotel establishment whose management is carried out by individual owners. That is, its management does not depend on a chain or company. While a chain hotel will be subject to brand design and standards, an independent hotel can create its brand as it sees fit. In addition, they are accommodations that do not allow other hoteliers to use their brand.
Now, there are independent hotels that can be part of a group of hotels that adhere to certain standards to obtain more benefits. However, they remain independent in the sense of their operational management.
THE IMPORTANCE OF MARKET TRENDS TO DEVELOP AN INDEPENDENT HOTEL
The independent hotel market is currently playing a crucial role in the hospitality industry. Well, these hotels offer an alternative to the largest hotel chains. This is because they give travelers the opportunity to experience a more personalized and authentic stay. Additionally, independent hotels are often located in unique locations and offer a distinctive atmosphere.
These characteristics are very important if you want to develop an independent hotel, especially when there are certain closely related market trends. For example, one of the current trends is the demand for authentic and personalized experiences. Today’s traveler is looking for a hotel that adapts to the experiences they want to live on their trips.
Guests are now looking for hotels that reflect local culture, offer personalized services and provide a more intimate experience. For example, today’s traveler may be attracted by a hotel that offers cuisine with local products.
CONSIDERING THE ADVANTAGES AND CHALLENGES OF DEVELOPING AN INDEPENDENT HOTEL
To develop an independent hotel, there are specific advantages and challenges to consider. These are some of the main advantages and challenges:
- Personalized hospitality
- Independent hotels have the ability to offer a more personalized and closer experience to their guests. They can adapt their services and meet the individual needs of each client. This plays a key role for business success, since the hotel market is oriented towards customer experience.
- Flexibility and creativity
- Independent hotels have the freedom to adapt quickly to market trends and demands. They can implement new ideas and concepts without having to follow the policies and standards established by a hotel chain.
- Reacting and being able to decide quickly can avoid financial losses and increase management tasks.
- Autonomy in decision making
- Autonomy is another advantage to consider when developing an independent hotel. Since, by not being linked to a hotel chain, the owners have complete freedom to make strategic decisions according to the objectives of their own business.
- Greater focus of resources, time and attention
- Independent hotel owners can invest all their resources and time into their business. In addition, this allows them to have a more intimate knowledge of your business. This in turn is reflected in greater knowledge of the local market. And knowing the market is key to accommodation marketing strategies.
- On the other hand, independent hotels can better absorb low occupancy periods, since they do not have the pressure of the objectives that a chain demands.
- Competition with hotel chains
- To develop an independent hotel, having to compete with large hotel chains must be considered the main challenge. This can represent a great challenge in terms of marketing and visibility in the market. Since the chains are very well positioned in the market and have great marketing power.
- Limited resources
- Independent hotels typically have more limited financial and staff resources compared to hotel chains. This can make it difficult to implement advanced technology, loyalty programs, and sophisticated marketing strategies.
- Online reputation management
- In the digital age, independent hotels must pay special attention to online reviews and comments. It is important to respond to reviews and maintain a good reputation on review platforms and social media.
- Customer loyalty
- As an independent hotel, apart from providing excellent quality services, loyalty programs must be promoted. Well, loyalty programs are one of the great assets for hotel chains. Since they can scale thanks to the wide variety of hotels and brands.
EXPECTATIONS OF THE INDEPENDENT HOTEL MARKET
The future of the market may be uncertain, but some expectations need to be seen if we want to develop an independent hotel. In this sense, the expectations of the independent hotel market show at least two scenarios. First, according to some experts, in the long term, independent hotels due to their challenges are moving towards concentration. This means that they will have to be part of a hotel chain to remain operational in such a competitive market.
On the other hand, other groups of experts maintain the viability of independent hotels in the long term. Well, the idea is defended that independent hotels can offer a unique and differentiated service. And this aspect would help the service sell itself. Furthermore, it is argued that independent hotels that can grow well in a given market segment are likely to be viable in the future.
In short, developing an independent hotel is a process that requires a deep understanding of the dynamics of the hotel market. As travelers seek more authentic and personalized experiences, independent hotels have more advantages. Well, they have the opportunity to offer tailored services and the freedom to adapt quickly to changing trends.
However, they face significant challenges competing with established hotel chains and managing limited resources. Expectations for the independent hotel market are diverse. Therefore, its future will ultimately depend on its ability to maintain its uniqueness in a highly competitive market.
Finally, if you decide to embark on the journey of developing an independent hotel you must be prepared. It is best that you have professional help. And this is where a hospitality consultancy like IHCS can help you develop creativity, adaptability and excellence in hospitality.