For the first 10 years of their existence, soft brands were largely an upper upscale and luxury phenomenon. But in recent years, several major hotel companies have been introducing soft brand collections in the midscale segment of the market. Due to increasing demand among both hotel owners and guests, these companies, including Accor, Best Western and Wyndham, have moved “downmarket” with their new soft brands, reflecting the growing desire for a midscale price point product offering a non-standardized collection of personality-led hotels.
During the 46th Annual NYU International Hospitality Industry Investment Conference held in New York in June, several hotel CEOs mentioned that an upsurge of middle-class travelers is driving hotel companies and owners to embrace more affordable options. Adding moderately-price soft brands, then, is a way for hotel companies to appeal to the needs of the market, and to do so quickly.
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