Recognising change and adapting to it rewards disproportionately, it’s how evolution works. Change however is something most find difficult, and maybe that explains the reward ratio.
A current example being the world’s sixth largest hotel chain, it was created in January 2013 with one property. Since then has become the world’s fastest growing hotel chain with a network of over 18,000 franchised and leased hotels across 500 cities and 10 countries.
It has launched in the UK and predicts 50 properties by the end of this month.
We have not named the company intentionally as in the 21st century companies such as this can create themselves seemingly from nowhere. Right here right now do you know the company we are referring to?
This company looks at our industry differently to most, it sees itself in the experience business, the business is all about ‘ensuring guests have a great experience during each and every stay’.
Nothing that hasn’t been said before but the difference here is here’s how they say it – ‘the single aim is of using technology and hotel expertise to deliver value for hotel owners and customers alike’.
Having read up on the company it seems that there are three legs to their model – technology – experience – hospitality – in that order too.
Given that technology has changed the world more than anything in its circa 4 billion year history we feel they may be onto something.
Birds of a feather – There are a great many similar businesses today to the one we refer to, such as Airbnb, coming from nowhere to owning measurable global market share. Is it coincidence that Airbnb earlier this month invested $1-200 million in the world’s sixth largest hotel chain?
How technology is changing hospitality will be central to this year’s H&C Social