Hotel operators have in the past segmented their markets through price differentiation. More recently these preferences have been segmented by age and lifecycle. Hoteliers in particular have focused on creating personalised and immersive experiences for the younger traveller by developing boutique and ‘new age’ luxury brands.
However, are we correct in assuming that a younger Millennial traveller values the same core set of hotel preferences? Or do these preferences vary by generation? To test this hypothesis, CBRE Hotels recently conducted a survey focusing on hotel preferences from a sample across generations. The key insights of this survey are discussed within the fourth edition of Check-IN.
The report explores the key fundamentals that hoteliers require to draw an individual customer to a hotel, regardless of their age. Hoteliers will need to carefully manage their marketing and brand development approach as home sharing platforms continue to emerge and customers become more discerning and specialised in their requirements for hotels.