Hilton’s Yotel Franchise Deal Tests New ‘Platform’ Model
Summary
Hilton's new 'Select by Hilton' model, starting with Yotel, involves partnerships without ownership. This signals a shift toward asset-light expansion in the hotel industry, with IHG and Marriott adopting similar strategies. The trend suggests potential changes in how brands and property owners collaborate in hospitality. Learn how the major players in the hotel industry are restructuring.
Key Insights
- •IHG entered a 30-year franchise partnership with Novum Hospitality.
- •Major hotel groups are shifting towards asset-light expansion through partnerships rather than acquisitions or owning the brands.
Action Items
- ✓Consider how similar partnership models could affect your distribution and revenue strategies as an STR host.Effort: lowImpact: medium
Tools & Resources
- →Hilton, IHG, Marriott: The article references the actions of major hotel groups like Hilton, IHG, and Marriott.
Related Videos
More from Growth & Marketing
Lake.com launches new subscription tiers to offer hosts more flexibility. The Premium plan costs $499 annually for one featured listing with direct booking. The Portfolio plan at $3,999 per year supports up to 10 listings and includes marketing exposure. Hosts can now choose commission-based or annual fee structures, aiming to give greater control over pricing and distribution.
This AOL article discusses a Saturday Night Live (SNL) sketch featuring Melissa McCarthy as an "Airbnb Superhost." While the article itself isn't directly related to Airbnb hosting best practices, it provides a pop-culture reference to the STR industry and highlights brand awareness. The sketch is part of the growth and marketing of Airbnb's brand recognition.
Despite an 80% surge in searches, Raymore, MO, short-term rental hosts haven't seen corresponding World Cup bookings. This indicates a disconnect between interest and actual reservations. Hosts need to examine their pricing and marketing strategies to capture this opportunity.
Curated by Learn STR by GoStudioM