alternative accomodations
Pop-Up Hotels, Autonomous Vehicle Sightseeing and Other Trends to Watch in 2020 and Beyond
Alan Young | January 8, 2020
By Alan Young Two decades ago, if I were to have asked you what the world would look like in 2020, what would you have said? Would you have anticipated the steady rise of self-service technology, tools allowing for instant gratification across all aspects of our life, and artificial intelligence? The autonomous vehicle? The seemingly endless runway of possibility stretches before us, with the help of cutting-edge platforms that were once merely a futuristic concept? Moreover, what predictions would you have offered up for travel? While our industry is always subject to change and, most would argue, has been on an upward trajectory of te...
Alternative Accommodations Likely to Bring Continued Disruption to Hotel Industry in 2020
MaryJo Finocchiaro | December 23, 2019
Real estate and hospitality professional MaryJo Finocchiaro expects trend to continue as consumers compare price/value proposition of the two products BOCA RATON, Fla., Dec. 23, 2019 -- The alternative accommodation business is a significant hotel industry disruptor and is becoming increasingly institutionalized characterized by sophisticated revenue management, multi-unit management companies, and talks of IPO's. According to MaryJo Finocchiaro, Executive Vice President and Chief Financial Officer for BRE Hotels & Resorts, "The alternative accommodation trend is expected to continue to grow but facing headwinds with the threat of e...
Digital Dominates Amid Hostels’ Ascent
Douglas Quinby | May 4, 2018
By Douglas Quinby The broader travel industry may bucket hostels into "alternative accommodations," yet this often-overlooked sector is showing higher online penetration than the hotel or vacation rental categories. Younger travelers (18-34) comprise the largest share of hostel guests, and these digital natives have fueled rapid adoption of online and mobile hostel booking. The US$5.5 billion global hostel market in 2017 will grow to nearly $6.4 billion in 2020. Over the same time period, the online hostel market will grow 7-11% annually, rising from $3.5 billion to $4.6 billion. More than 70% of revenue will be booked online,...
