Nowadays, everyone uses social media to show to their friends, family, and followers how much fun they’re having or to show through images how great the vacation or hotel is that they stayed at. Is that easily done though by staying at your generic motel or Red Roof Inn? The rise of boutique hotels is upon us. People want to have the best vacation possible, from the location to food to attractions to the actual hotel they stay at. People want a lavish looking hotel.
The boutique hotel industry makes up just about 5% of the industry but has gained momentum as of late. The boutique hotel industry has grown 6.1% since 2009 and trends show it will accelerate through 2019. If you look back to 1950, almost all hotels used to be standard, so much to the point that even if someone was visiting a city they had never been to before, they knew what kind of hotel they were walking into despite never visiting before. Today, more and more of the largest hotel companies are integrating the boutique genre.
Hotel chains of today like Marriott, Hyatt, and Hilton are all now trying to get into the boutique hotel industry. They know they have to if they want to stay relevant in the industry. People no longer want the same old, rather they want new experiences. Some are looking to get into the industry by acquisition while others are looking into creating on their own. Starwood early on created their W brand in this niche market, Marriott has recently launched the EDITION brand partnering with hotel entrepreneur and visionary Ian Schrager, and InterContinental Hotels group has moved forward in this market with the acquisition of the Kimpton boutique brand.
It will be interesting to see moving forward who else is acquired or who else decides to change their hotel business strategy. For more on this topic, check out this article here. (http://www.ibtimes.com/major-hotel-brands-compete-space-boutique-hotel-trend-1793168)