Real Estate Talking Points: Hotel Operating Models: The Basics
The way hotels are managed and operated has evolved over a number of years and will continue to do so, unsurprisingly given the increasing complexities of today’s hospitality market and, most recently, a global pandemic. Disruptors such as Airbnb and Yotel have been wide-spread, putting increased pressure on the traditional players with their alternative models and removal of unnecessary extras. The current pandemic is, however, disrupting not only the traditional models but also the disruptors themselves in many cases. Despite all of this, the existence of four key operating models remains largely unchanged.
In this article, Imogen Jones explores the key components of these operating models, appreciating that hybrids are possible across models and across single assets.