Future of Lodging

If they can't sell their homes, vacation rental owners tend to stay with their property managers. Making the proverbial lemonade out of lemons.

Emerging digital nomad "trading routes" was just one revelation at Skift’s Future of Lodging Forum this week, and traditional hotel companies have plenty else to learn from hospitality startups embracing new future of work trends.

CitizenM is willing to take a profit hit to entice long-term guest loyalty, while Life House seeks to limit guest services to extract maximum profits for owners. The sustainable business model award goes to CitizenM.

Airbnb has recognized that it needs to bolster the confidence of many travelers that short-term rentals and vacation homes are exactly as advertised. It's taken a big stride in that direction, said Catherine Powell, global head of hosting at the online travel agency.

The self-proclaimed next-generation hospitality company has a finely tuned strategy, but it may be a slow-burner as profits continue to be elusive.

Marriott Bonvoy members account for about 90 percent of bookings on the company's Homes & Villas short-term rental platform, and access to that pool of customers is a strength, the unit's leader said. This pool of potential customers helped fuel Homes & Villas' 30-fold growth since its 2019 launch.

Flexibility and technology are key in delivering the innovative experiences today’s travelers are seeking.

Hotel companies, many of which saw huge drops in overseas guests during the pandemic, realized they needed to appeal to local residents more to boost revenue. So they're increasing their efforts to make their properties feel like home for local communities.

Myriad ways exist for hosts to build their short-term rental businesses. And if the choices are complex today, just wait for the rush of new vendors and operators seeing gold in them hills.

There's no hiding from higher environmental standards for hotels.