Generations X & Y
LIFESTYLE HOTELS - CONCEPT
The lifestyle concept has gained popularity over the past few years, especially in more mature markets such as Europe and USA. International operators have in past years launched a myriad of new brands in the lifestyle category, such as W Hotels, Aloft, Indigo, Andaz by Hyatt, Venu, Mama Shelter and ME by Melia.
These hotels tend to include a lobby with an open floor layout, providing an environment with a 'Work and Play' atmosphere, while the interiors of guest rooms are equipped with the latest technology and modern design elements.
Lifestyle hotels are typically located in city centers, and are known to be social hotspots for both in-house guests and local residents.
LIFESTYLE HOTELS FOR GENERATION Y
Considering that the majority of Bahrain's tourists stem from the GCC region, opportunity lies in developing lifestyle hotel product capable of catering to the needs of families, and young travelers.
MIDSCALE HOTELS FOR GENERATION X
Currently there are over 500 keys of hospitality supply which are attached to major retail centres, most of which are high-end, large internationally branded hotels or serviced apartments.
Nonetheless, these properties tend to perform better than the overall market, maintaining average occupancies of 80 85%.
This is attributed to their connectivity to a retail component, a draw factor for GCC families, as well as business guests seeking proximity to restaurants.
This highlights an opportunity to develop midscale hotel properties connected to retail developments, which are able to sustain rates under-cutting the five-star hotel rates.
Read full report here.