Mark Simpson (speaker) argues that personalization will be the defining factor for success in the hospitality industry. He warns that as more people adopt Airbnb/short-term rental models the market becomes oversaturated, so operators must compete by identifying niches and adding personalization tailored to their chosen guest segments.
Going to be one defining factor that is going to win for the hospitality business and your hospitality business, and that is personalization. There's going to be a lot more people that are looking to the Airbnb model or short term rental, because they will have noticed that it really is a fantastic investment opportunity. It's funny, but it hurts because at the same time, I know full well that they are going to struggle, because in an overpopulated and oversaturated market, you have to play in the niches. So when we talk about niches, you know, obviously focus on who you're going to focus on, but then how can you add personalization to it?
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