four season yacht reflecting brands looking at fresh vertical revenue streams - image credit conde nast traveller

Leading hotel companies are stepping beyond the traditional hotel stay to offer bespoke experiences and strategic partnerships that benefit both guests and their bottom line.

NB: This is an article from JLL

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Take ultra-luxury hotel group Aman, which offers a personalized experience for up to 18 guests to travel on a private, branded jet to their properties around the world. Meanwhile, guests at luxury hotel group Four Seasons can embark on a 95-suite superyacht next year, sailing through the Mediterranean and Caribbean.

Experiences like these are becoming increasingly common as hotels ramp up their non-traditional offerings, particularly since the pandemic.

“The expansion into new verticals isn’t a new development, but the pandemic spurred hotel brands to unleash their creativity,” says Marina Bracciani, Vice President, APAC Hotels Research, JLL Hotels & Hospitality Group.

“In the face of disruption, hotels had to innovate to wow and retain loyal guests while diversifying their revenue streams,” she adds.

Building loyalty beyond the lobby

Several brands are venturing into the realm of branded residences.

For luxury hotel groups catering to high-net-worth individuals, such as Four Seasons and Mandarin Oriental, it’s a natural evolution and extension for the business, Bracciani says.

“Branded residences allow these hotels to seamlessly transition loyal guests from staying to owning,” she says. “It’s about extending the brand experience beyond the hotel stay, enhancing it at every touchpoint of the customer journey.”

However, the pursuit of customer loyalty isn’t exclusive to luxury chains. Other hotel brands are exploring creative strategies, including co-branded partnerships with retail and service providers.

Hospitality giant Marriott’s loyalty program, Marriott Bonvoy, partnered with ride-hailing giant Uber to let members earn points for Uber rides and food orders. InterContinental Hotel Group’s co-branded credit card with Chase entices travelers with a welcome bonus and the ability to redeem points for free nights.

Read the full article at JLL