Here’s Why The Hotel Industry Should Be Your Next Business Focus

Are you beginning to think about your next business venture? There are lots of different industries you could move into, such as tech, finance, or media. But have you ever thought about going into the hotel industry? Even considering the various financial and market crashes that have occurred over the past few years, the hotel industry is still proving to be a lucrative area for entrepreneurs.

Image Credit: Pexels

Still wondering whether setting up your next business in the hotel industry is really for you? Hopefully, these compelling reasons will sway your decision for you.

New Tech Makes It Easy For Hotel Newbies

New technology is making business easier for so many people. These days there are many people embarking on a career in entrepreneurship who probably never dreamed that they would. But thanks to tech and Internet advances and developments, anyone can set up a successful company. And all of this tech is perfect for those wanting to break into the hotel industry. For instance, various software and programs now make hotel management and booking management a lot easier than what they once were. And the Internet is now a great source of help and information. If new hotel entrepreneurs ever run into a sticky situation, they just have to do a quick Google search to find answers.

It’s A Highly Innovative Industry

I’m sure you will have heard about new booking websites, such as Airbnb and Wimdu. These are innovative new sites that allow regular people to rent out their spare rooms and apartments to travelers. Thanks to these sites giving people the chance to make money through hospitality, lots of people are taking their Airbnb rooms seriously and turning them into a full-time income. The hotel industry is constantly changing and developing, making it ever easier for people to launch their cool new business idea.

Image Credit: Pexels

It’s Easy To Get Funding

One of the reasons the hotel industry managed to survive the financial crash a few years ago was because it is a very easy sector in which to get funding. If you do decide to launch a new hotel or travel business, you certainly won’t have any trouble finding grants and other types of funding. Governments are very keen to attract tourism to their company so if you set up a business which promotes a certain country’s travel hotspots, it could be very easy to get some funding from their government. Similarly, it can also be very easy to find funding from private equity sources.

There Is A Strong Workforce

You won’t find it too hard to find staff for your business either. Whether you set up a hotel or guesthouse or create a new online booking site, there will always be people fighting to bag a job with you. Travel and tourism is a very attractive industry, something which is all down to the current boom in travel blogging.

If you already work in the hotel industry, I’d love to hear some of your reasons why it’s such a fantastic sector!

Airbnb’s next Move to Stay Ahead of the Competition Involves Urban Planning

Now this is a surprising move by Airbnb. Meet “Samara”, an innovation lab and design studio aimed at creating hardware and software that supports “exploring new attitudes towards sharing and trust”. One of their first projects delves into the realm of urban planning by constructing a communal space in a small town in Japan. It’s a unique opportunity to expand their business, staying true to their core business that has helped to connect 60,000,000+ travellers in over 191-plus countries with unique accommodations and experiences. 

For what it’s worth, branching into what us urban planners like to call creating a “sense of place”, isn’t a bad pivot. My only critique of Samara would be that I’d have wanted it to be done more from the grassroots level so there’s a lot of ownership from communities.

Airbnb’s design for a community centre to be placed in rural Japan | Source: Fast Company

That aside, I think it could work as a platform to boost alternative tourism and overall economic creation in smaller districts/villages/towns, particularly because their area of focus is on communities that have suffered economically from young people moving away to bigger cities and leaving the elderly behind . I’ll be curious to see how this initiative by Airbnb plays out.

The community centre features a 16 ft long table for shared meals and meetings | Source: The Verge

You can read the story in detail and get an exclusive look here from Fast Company. Read More –>

Also, Airbnb Co-Founder and Chief Product Officer, Joe Gebbia introduces Samara here. Read More –>

Let me know your thoughts on Airbnb’s latest move by leaving a comment below.