Does Experience Drive Occupancy at a Hotel

Dan Palmier

Today, real estate is all about creating an experience. From office to multifamily and retail, it is clear that users want to be wooed in to arriving and wowed upon arrival. While multifamily and office product has certainly evolved, retail assets have been the biggest proponents of creating an offline experience, and those that have done it well have benefited. Now, hotels are joining the trend, hoping to similarly drive occupancy. Hotels with the right branding are seeing an impact on revPAR.

On the hotel side, branding starts online. One of the biggest tools is actually creating an online marketing strategy to translate the experience to potential customers. “Digital marketing is becoming more and more critical for hospitality assets as people rely increasingly on social media to affirm their travel choices,” Dan Palmier, CEO of  UC Funds. All generations are connected to some extent, so a well-defined lifestyle brand will likely stand out among the plethora of similar hotel options available instantly on any smartphone.”