New Business Idea – Home’otel
There are various reasons behind the success of shared economy accommodation startups such as Airbnb or likes
1. Travelers are willing to experience a home-like environment while traveling and live among the local community instead of box type hotels.
2. Lower cost of the stay for long length of stays.
4. Traveling with family and friends for sharing the large space accommodation offered.
Studies and surveys are showing that even business travelers are preferring this type of stay. However, there is a drawback to this.
1. There is no consistency in the services & facilities offered by different hosts in various locations.
2. There is still no level of trust that a global hotel brand enjoys when it comes to service, safety & security or facilities offered,
The solution to these problems – How this new concept of “Home’otel” can work ??
This Gap can be filled if the Host of this accommodation is a Hotel management company. There will be certain consistency and a level of comfort for business travelers.
1. Home’otel management company would need to either lease or own Homes, condominiums, apartments in various parts of cities.
2. It clusters them as per geographic location and hires service support team like housekeeping, a home butler for guest relations, concierge services etc. A group of engineers to resolve working order issues.
3. It can also do the same in different cities and different countries.
4. Own around 50-100 such a wide variety of units in each major city of the country.
Benefits and Unique Selling Points
1. It gives the flexibility to cater to different types of demands for size, interior, location, type of accommodation, etc covering a wide area without limiting the hotel to a certain location or type of facilities offered.
2. The company does not have to invest hugely in various plants and machinery a hotel has to.
3. It will have an edge of professionalism over various unorganized and untrained hosts.
4. Guests can book and expect consistent services over different regions and different times.
5. It gives a great redundancy in these times if a certain part of the city is hit by political crises, natural disasters or other disruptions.
6. Working at a small pace will give the flexibility of capital investments instead of millions of dollars have to spend at one time to build a hotel.