June 21, 2018
Travelers losing interest in home-sharing
According to MMGY Global’s Portrait of American Travelers study, just 33% of respondents are interested in sharing economy accommodations, down from 41% in 2017 and 37% in 2016.Read more
While many brands chase Gen Y with varying results, Yotel, one of the world’s fastest-growing hotel chains, is done with millennials. The company is heading away from the age thing; those traditional demographics just don’t work any longer.
The firm, started by Yo Sushi founders Simon Woodroffe and Gerard Greene in 2008, builds quirky capsule hotels targeted at “digital naturals” who are always online. Initially, that meant a younger clientele. But looking at data from Google Analytics and customer surveys, there’s nothing about Yotel’s customer profile (tech-savvy, independent travelers) that is age specific.
“We’re heading away from the age thing; those traditional demographics just don’t work any longer,” Fergus Boyd, Yotel’s digital and IT director, told Digiday ahead of his talk at Forrester’s Digital Transformation Forum. “The concept of millennials, as we say in the office, is so last year.”
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