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Trend Watch: Maximizing Real Estate to Maximize Revenue (and Appeal to Locals)

Submitted by Kathie Gonzalez on Jul 09, 2012 - 10:13am
Posted in Renovation|Travel Trends

Great article by Bloomberg Businessweek earlier this month on how hotels are building spaces – skating rinks, yoga studios, meeting rooms that can be repurposed for nighttime cooking parties and everything in between – to bring in new streams of revenue. The spaces are also intended to appeal to local residents, businesses and government officials, who can rent and use the spaces for their own needs. In fact, our parent company Starwood recently announced plans for the $100 million renovation of 10 W hotels in North America; the revamp will entail the reworking of public spaces such as lobbies, bars and nightclubs, with a focus on “drawing in locals.”

What do you think? Will these attempts at focusing on additional sources of revenue help hotels in the long run?

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