June 19, 2024

Why Hotels Will Transform by 2040

When most of us think of our typical hotel experience we often fall into a blockbuster-type trance as a few scenarios spring to mind. Two single beds pushed up next to each other, a small mini fridge with overpriced drinks, a bible in the nightstand drawer, and a lock-up safe in the cupboard. These along with many other dreary hospitality quirks have become the norm and essentially dominated what it means to go to a hotel for decades.  But surely in a world as fast-paced as ours, it’s only a matter of time before the traditional hotel experience gets booted for something that could potentially be far more enticing? Here’s why your hotel experience will be different by the time 2040 rolls around.

1. It was about time for a change

For over 100 years the typical hotel experience has been an unbroken model. To its credit, it has worked. As reliable as the internal combustion engine, but even that is being phased out now for the more efficient and intelligent electric motor. Because at the end of the day. It’s just time. The amount of people choosing private self-catering stays over hotels has exploded over the last 10 years. The industry needs to change in a big way if it wants to survive.

2. They’ll be customised for your community

People don’t want to be put into the same box anymore. In almost all spheres the hospitality industry has grown to accommodate the needs of different social groups. Whether it’s natural wine bars for the trending hipster or vegan fine dining, the scope to create customised and specific experiences for customers has certainly become an expected norm. The hotel industry is next, but what can we expect? Are you a fitness addict? Expect a treadmill at the end of your bed and an ice bath on the balcony. Room service might come with a personal trainer and a private chef to make sure you have the perfect balanced diet. You get the idea.

3. Financing the dream

And it's not just consumers that will benefit from the world of change in 2040. Hotel owners and developers are set to have their workflows turned upside down too. Former challenges like financing will become a thing of the past as red tape and gatekeeping to investment opportunities in the hospitality industry are wearing thinner and thinner by the day. Let's look at Azqira for example. A mind-bending platform that allows you to be involved in a tiny (or massive) piece of a hotel project without even needing to leave your couch.

4. Closer to home, for a longer time

There’s no place like home and for that reason, hotels in the future are looking towards increasing comfort and privacy in your stay. With the global increase of digital nomads and remote travellers, the trend of staying for longer has become vital to key into. The hotel industry is gearing up to shift focus from travellers staying for a few days to a few weeks or even months. In fact, over the past 10 years, many globally recognised hotel brand families have expanded their extended-stay portfolios by more than 50%. Both Marriot and Hilton have launched initiatives to offer guests a more comfortable long-term stay for the intrepid digital mad. An experience less like your hotel room and more like your new apartment. A home away from home.

5. A smaller footprint

The shift to become more sustainable has never been more important, especially in hospitality, already touted as one of the highest waste-producing industries globally. The difficulty to change infrastructure has largely left hotels as the last to take the leap when it comes to sustainability, however growing pressure from not only customers but also investors has led to a pivoting point. ESG (Environmental/Social/Governance) has become a core framework for investors looking to add hotels to their portfolio. As a result, we’ve already seen substantial changes, like the 2021 study that found  81% of travellers surveyed would rather stay in sustainable accommodation going forward. In 2040 we expect to see environmental and social responsibility become one of the hotel industry's biggest focuses. Initiatives such as recycling, reducing waste, building with environmentally sustainable materials, and local sourcing are set to become industry standards. Adrère Amellal in Egypt is doing it differently seemingly going back in time while taking luxury along. No electricity and candle-lit hallways dug out of ancient stone. What better way to save the world?!

6. Your room will be smarter than you

Tech will undoubtedly be the hotel industry's biggest asset going forward. The use of data to better target and serve customers will cut out waste, streamline spending, and increase occupancy with far higher efficiency. But that’s only what the hotels will benefit from, customers will also see a substantial impact from the use of tech and AI. One of the most exciting topics is the development and integration of mobile concierge technology. Think of it like Siri, except it’s designed specifically to make your hotel stay as pleasant as possible. Booking trips and massages to suggesting what to have for dinner and calling you a taxi to the airport. You’ll barely have to lift a finger.