In this video, you will explore how the Hotels industry works. If you like this content don't forget to subscribe to our channel / @primerli
Key Sections: 0:20 - Basic lodging 0:30 - Inns 0:59 - Guest Services lines 1:14 - Willingness to pay 2:05 - Which room, and which price?
The video is an excerpt from the Hotels Industry Learning Primer produced by the world class, digital e-learning content provider Primerli (https://www.primerli.com). The full module contains 10 bitesized pieces of video content, with additional quick quizzes designed to help professionals learn about the industry in under an hour.
Other free videos in the series are: ✅ Hotels Industry Overview, products & services • Hotels Industry Overview - Main Products (...
The learning concepts are created by a team of former top tier strategy consultants, in collaboration with industry veterans with decades of experience. Together, they collaborate with a production team to create highly engaging, entertainment-quality content.
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The weary traveler seeks a room at the inn. This is a tale as old as time,
and lodging is a business as old as any. For most of history, lodging was an informal affair.
Residents welcomed travelers into their homes, or they didn't. Tough luck. As human density
and commerce increased, the demand for lodging began to justify the establishment of inns,
which planted the seeds of today's multi-trillion dollar hotel industry.
However, hospitality hasn't always been so hospitable. Early accommodations were often
bare-bones, many people to a bed, or no bed at all. But even since the beginning,
innkeepers have known that travelers have multiple needs, and they're willing to pay.
A warm meal? A place to keep your horse? We can think of these as the very first guest services,
a concept today that has grown to include meeting nearly any whim of a paying guest. Today,
the world's most luxurious properties will iron your clothes, deliver fresh flowers,
even send someone out to pick up supplies. A traveler's willingness to pay, in fact,
often extends beyond the room and these services. Many guests value how a hotel might make them
feel, and this is a function of a whole set of intangibles like aesthetics, design, and branding.
For some guests, starting and ending their Paris vacation days in a glamorous boutique
just has a certain je ne sais quoi. For others, a high-rise with a view is a better fit.
The wide spectrum of needs, expectations, desires, and, of course, willingness to pay
has given rise to a true proliferation of hotel brands and alternatives.
There are nearly 50 different hotels in and around New York's Times Square alone.
Finding a room at the inn is, for the most part, a problem of the past,
unless you find yourself vying for the last few airport hotel rooms during a winter storm.
The bigger problem today is which room and which price. Location, service, property attributes,
and brand feel, these are just a few of the factors hotels must solve for.
This primer will introduce what it takes to build and deliver a hotel brand. The following
chapters will cover a hotel's products and services, the market landscape, common business
models and functions, key metrics, and the trends to expect in the next three to five years.
