Five hospitality trends shaping the landscape in 2024

With the return of travel, consumer preferences and expectations have evolved as  indicated by the increased demand for all things responsible and purposeful. This heightened sense of  self-awareness and personal lifestyle has triggered changes in the ways hospitality stakeholders personify their brand promise. 

Unique to the design space, WATG’s research-led advisory and analysis team provides informed insights for business direction and guest experience, forming the foundation for commercial success.  Guy Cooke, Associate Principal and Studio Director of Advisory Services, shares his observation on five emerging hospitality trends that will shape the industry in the months ahead. 

1. Luxury Brand Collaborations Fueled by the ‘Experience’ Economy

We have observed a growing prominence of luxury fashion and lifestyle brands within the hospitality space as they seek to capture growth in the ‘experience’ economy by aligning their brands with aspirational High-Net-Worth Individuals’ (HNWIs) recreation and way of life. Some examples include the emergence  of pop-up beach clubs like Fendi Puente Romano and Dior Bali, exclusive suites within famed hotels  such as the Bentley Suite and Dior Suite at St Regis NYC, entire luxury hotels like Bulgari, Armani, and  Baccarat, and the proliferation of branded residences by such brands. With WATG, these include the  collaboration between Bulgari and the newly opened JW Marriott Jeju Hotel & Resort in Jeju, South Korea, to showcase the timeless glamor and heritage of the renowned Italian watch and jewelry maker, as well as the Louis Vuitton “Deep Time’ luxury jewelry exhibition held at Rissai Valley, a Ritz Carlton Reserve nestled in Jiuzhaigou, China – Ritz-Carlton’s first all-villa resort .

2. Private Members Clubs Targeting ‘Daycations’ Sector

The distinction between hotels and clubs is becoming increasingly blurred as hotels increasingly rely on local communities for patronage. An array of amenities are activated to create club-like concepts for these  ‘daycations’. The subscription model these clubs are based on offers hotels more diversified and stable  revenue streams than from transient trade. Rosewood, Six Senses and Aman are all opening private clubs for local residents integrated within urban hotels. At the same time, there is growth and innovation from the traditional private members club space targeting specific market segments with increasingly curated offerings comprising a guestroom component or offering ‘retreat’ concepts away from the city.

3. Branded Ecosystems Offering an Integrated & Expansion of Guest Experiences

Hotel operators are extending their services and brands beyond traditional hotels into other adjacent lifestyle concepts. This includes the branding and operation of a range of synergistic components within  an urban mixed-use development including residences, wellness hubs, serviced offices and private  members clubs. Accor, for example, has launched a dedicated service line Accor One Living to focus on the development, operation and branding of these mixed-use spaces with a focus on creating complementary experiences under a single brand for a range of users from guests, onsite residents to the local population. Hotel operators are also continuing to expand their presence into non-hotel leisure  experiences through the branding and management of standalone vacation rentals, superyachts and  private jets.

4. Scaled-up Accommodation, a Typology That is Here to Stay

The post-pandemic hospitality trends for multi-generational and blended travel are having a demonstrable impact on the demand and supply for larger accommodation typologies within a resort setting. Hotels are being  designed today with a greater consideration for this market. Larger villas are making up a greater proportion of total inventory. Family-friendly in-villa amenity is being bolstered while flexibility to cater  to the different needs of a travel group is being designed into the product. This growing transient multi generational demand dovetails neatly with the growth of branded residences, creating an all-round beneficial scenario from a cash flow and end user demand perspective.

5. Amenity Innovation to Go Beyond The Conventional

As the experience economy enters a new phase, there is an arms race underway in the hospitality sector for amenity programming that helps destinations to stand out from the crowd. Developers are  going extra lengths, investing in wow-factor concepts that capture the imagination and place the destination on the map. Leveraging the unique context of each destination, including natural assets and  local cultural themes, is central to anchoring amenities and providing one-of-a-kind experiences that  cater to growing expectations for authenticity. Partnerships with third party ‘specialist’ operators, brands and celebrity endorsed concepts are also adding a new dynamic and visibility to the destination offering  that speaks directly to the targeted guests. Be it kids’ clubs, sports and fitness facilities, wellness  programming, cultural experiences and translating through into the F&B offering and poolside experience, each new resort requires a new layer of thinking in terms of experience curation through the guest stay.

“As the hospitality landscape evolves, we must rethink what this means to us, to our clients, their guests and to the planet. It is imperative that we continue to innovate as we strive to  respond quickly to market needs, to elevate guest experiences, recapture revenue and optimize return for our clients. Backed by a thorough research-led framework, our deep understanding of what today’s travelers seek allows us to set new standards for what guests can expect in a new era. We believe that  these trends don’t just guide our clients to build a more resilient business model but also shape our industry to ensure we can keep on thriving in 2024 and beyond,” – Guy Cooke, Associate Principal  and Studio Director of Advisory Services, WATG Singapore.