stuff.co.nz: It’s a trend pre-dating the global slowdown: big hotel chains are moving into the quirky boutique sector to tap into a niche of profitable growth. What’s not clear now is how many can succeed.
Hotel revenues have fallen sharply since last October and shares in hotel groups in Europe fell by more than 30 percent in 2008 as investors anticipated pressure on earnings this year.
Nonetheless global giants from InterContinental – the world’s largest hotel group – to Marriott and Starwood are launching boutique brands in Europe, with others set to follow as they face the biggest industry downturn in a generation.
Hoteliers entering the boutique niche are betting that travelers will seek better value as spending is squeezed, rather than settle for the usual boring “beige box” hotel room.
Hotel giants seek refuge in niches [stuff.co.nz]
Quirky Boutique Hotels
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