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An organic expansion is difficult to come by in most consolidated and established markets, and so many hotel businesses are finding respite in a different way of doing business – cross pollinisation, scaling up across industries rather than trying to go solo or stay within the confines of the same industry.
Some of the key opportunities that collaborative initiatives provide include a wider access to consumers, ideas, specialists, as well as greater financial efficiencies, increased productivity, and ultimately a better quality finished product. Today the most successful companies build bridges, and the selection of strategic partners with whom to collaborate is becoming more and more important. Here are some of the profitable collaboration in the hospitality industry.
Beauty Brands
The most common type of collaboration in the hospitality industry is with beauty brands. Guests love to swipe the sample-size soaps and shampoos at hotels, upping the stakes for hotels and beauty companies to deliver better brands and unique products. Most of the time travellers recommend a particular hotel not because of it service or cuisines, but because of the toiletries offered there. According to some travellers, it definitely matters what’s on the sink as it always a bit of reward after a long travel time.
Travel also provides a massive marketing opportunity for beauty brands. This is the reason why entrepreneurs are looking beyond, soaps and shampoos. Some brands are introducing there new range of nail polishes and lipsticks in collaboration with hotels.
Fashion
As fashion retailers become more experiential, there’s so much room for great partnerships in the space. Hotels are now collaborating with fashion retail stores or stylists to provide the guests with a memorable experience. Fashion and the right labels attract a certain demographic that hotels want in their premises. Some hotels also offer personal styling and fashion advice from experts in your room.
Technology
As new digital platforms continue to emerge across industries, partnering with new, fresh, agile tech companies will inevitably boost your hotel business.
There are many examples of technology being utilised in the hospitality industry to enhance the customer journey and their experience along the way. For Instance, the application of scanning devices at airports to speed up processes or the introduction of robotics to greet travellers. Some hotels even have Netflix in rooms, offering guests endless TV content at the flick of a button in your own room.
