Affordable hospitality brands promote luxury via minimalist design
Trend - Hotel brands are creating the image of luxury with the adoption of minimalism in design, but maintaining relatively affordable pricing for their rooms. As consumers seek out distinct luxe experiences–including in travel–hospitality brands are having to match their preferences in a way that doesn't isolate those who cannot afford extravagant luxury vacations.
Insight - The Experience Economy has prompted consumers, particularly Millennials and Gen Z, to consistently look for products, services or travel that offers a sense of adventure. With that, consumers are looking for ways to sustain such a lifestyle without compromising quality or experience. Hospitality and entertainment options that offer experiences and aesthetics at an affordable price cater to those consumers looking for more accessible shareable moments.
Insight - The Experience Economy has prompted consumers, particularly Millennials and Gen Z, to consistently look for products, services or travel that offers a sense of adventure. With that, consumers are looking for ways to sustain such a lifestyle without compromising quality or experience. Hospitality and entertainment options that offer experiences and aesthetics at an affordable price cater to those consumers looking for more accessible shareable moments.
Workshop Question - How could your brand enhance the appearance of luxury while still offering accessible products/services?
Trend Themes
1. Minimalist Design in Hospitality - Minimalist design in hospitality creates an affordable luxury travel experience that caters to Millennials and Gen Z who seek accessible shareable moments.
2. Monochromatic Modern Hotels - The concept of Monochromatic Modern Hotels brings a new, personalized and functional experience for travelers looking to explore new areas in a boutique hotel setting.
3. Store-branded Hotel Activations - Hotel brands like Muji are integrating their products into their incorporation and design of hotels, providing guests with a unique experience that showcases their brand and values in the hospitality industry.
Industry Implications
1. Hospitality Industry - The hospitality industry has been impacted by Minimalist design concepts and monochromatic modern hotels, creating accessible luxury experiences for their guests.
2. Retail Industry - The trend of Store-Branded Hotel Activations creates an opportunity for retailers to offer a unique experience to their customers while also serving as a marketing tactic for their brand.
3. Real Estate Industry - The emergence of Monochromatic Modern Hotels provides an opportunity for real estate professionals to renovate and transform buildings into functional spaces that cater to the modern design and technology needs of travellers.
