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BEYOND20


COMMENT


Access versusownership Perhaps the most interesting dynamic to observe throughout this crisis is that between access and ownership. Whilethis trend started20yearsagowiththe


rise of the subscription model, there are now tens of thousands of companies worldwide that allow people access to things without owning them. Some might argue that demand for such models is a behaviour rooted in youth. Others will claimthat it is merely a result of effectively managing personal finances. What we do know is that people increasingly want the perks of owning something, without the burdens — financial or otherwise—of doing so. The subscription model explosion has


already occurred in most industries: transpor- tation, music, film and television, and retail. It has not happened yet in the hotel world. Sure, there are member clubs, but these are focused on food and beverages, and events. In hospital- ity, the barrier to widespread adoption of the subscription model has always been inventory management—advances in data collection and analysis have rendered this moot. We now knowhowmuch access we can give. Hotel brands need to combine adaptability,


flexibility, and access over ownership in order to appeal to the post-Covid-19 customer. We, as an industry, are not there yet. In recent years, hotel products have existed


in one of twomutually exclusive buckets: regu- lar hospitality offerings and co-living offerings, but the future of hospitality is somewhere in the middle. People are more eager to connect and invest in experiences. Looking at the trends laid out earlier, hotels


have the opportunity to become a housing solu- tion formany;andtoday’s hotel brands will need to adapt to capitalise on this opportunity. ■


Rafael Museri is co-founder and chief executive of Selina. Selina announced 50 FDI projects since 2018 (source:fDiMarkets).


WEKNOWMORETHANEVER THATSOCIALCONNECTIONS ARETHEMOSTVALUABLE EXPERIENCESANYHOSPITALITY COMPANYCANDELIVER


December 2020/January 2021 www.fDiIntelligence.com


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