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Blog: Top 5 Takeaways from the Annual Hospitality Conference 2024

Blog: Top 5 Takeaways from the Annual Hospitality Conference 2024

Colin Briggs-Campbell and Dan Postill had the opportunity to attend this year’s Annual Hospitality Conference in Manchester in September.

It was an insightful experience that highlighted some key trends shaping the industry. Here are their top five takeaways:

  1. The Hotel Sector Outperforms Other Sectors

One of the most striking insights was the performance of the hotel sector in the construction industry. Growth in real estate transaction volume is far outperforming all other sectors by a remarkable 65%. This statistic underscores the resilience of the hospitality industry and its ability to adapt and thrive even in challenging economic conditions. As we look ahead, it’s clear that hotels are leading the way in construction innovation and investment.

  1. The Rise of Extended Stays

A significant trend is the shift towards extended stays, with hotels catering to guests looking for accommodation for 6 weeks to 3 months. The lines between co-living spaces and extended stays in hotels are increasingly blurred. Co-living usually attracts a young demographic under 35, while extended stays tend to cater to international travellers. Moreover, top-tier hotels are now selling apartments within their premises, creating a new revenue stream.

  1. Office to Hotel Conversions

Another notable trend is the conversion of office spaces into hotels. Many office buildings feature spacious open floor plates, making them ideal for transformation. This adaptive reuse revitalises underused assets and helps prevent former offices from becoming stranded assets. As urban landscapes evolve, this trend will likely continue to gain momentum. It also represents a sustainable method of construction with the majority of the embodied carbon in the building being re-utilised.

  1. Wellness is Key

Wellness has become a focal point for many hotels, with an increasing number adding yoga studios, fitness suites, and wellness programmes. Guests are now prioritising their health and well-being during their travels, and hotels are responding by creating environments that promote physical and mental wellness. This trend enhances the guest experience and helps hotels stand out in the market.

  1. A Softer Approach to Branding

Post-Covid, there’s been a noticeable shift in how hotels approach branding. Many establishments are softening their brand standards, allowing for more flexibility and creativity in design and service offerings, particularly evident in the adaptive re-use sector. This trend reflects a desire to create unique, personalised guest experiences rather than strictly adhering to brand standards.

Conclusion

The Annual Hospitality Conference provided invaluable insights into the evolving landscape of the hospitality industry. As trends such as extended stays, office conversions, wellness, and more flexible branding continue to emerge, it’s clear that innovation and adaptability will be crucial for success in the coming years. At Bowman Riley, we’re excited to be part of this dynamic sector and look forward to exploring these trends further in our projects.

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