Wyndham’s first annual Hotel Owner Trends Report found that 98% of 650 owners and developers across the hotel industry in the US, Canada and the Caribbean, remain interested in growing their portfolios through brand opportunities, rather than operating as an independent.
Key findings:
- More than 80% of respondents said a strong loyalty program is “very important or critical to a hotel’s success”
- 61% have or are considering investing in technology like streaming, digital room keys and self-service kiosks
- more than 90% of hotel owners are already leveraging AI in some capacity
- 39 are looking to get involved with lifestyle and boutique hotels
- 36% are interested in the midscale and upper-midscale chain scales.
- 35% are looking for economy segment opportunities
- extended stay accommodations are top of mind for hotel players.
Nearly all respondents (96%) said they see opportunity in extended stay, as “an investment with great potential”, 59% saying that embracing extended stay’s unique operating model is critical to success. All respondents (100%) said they anticipate an increase in new extended stay business over the next five years.
