Hotel
The main type of property within the hospitality moniker is hotels. Hotels are defined primarily by the services and amenities that they offer, but also by the “flag” or operating brand of the property. This includes brands like Holiday Inn, Hilton, and Marriott, among others.
Unsurprisingly, travel and tourism activity in a specific market drive the demand for hospitality assets in that location.
The three main types of hotels include:
Full-Service: These high-end hotels are loaded with guest services and amenities, including on-site restaurants, banquet and meeting rooms, concierge service, spas, and retail shops. For full-service hotels, the overall success of the hotel is highly sensitive to the quality of its on-site amenities, particularly the food and beverage services.
Limited-Service: These properties are a step down in terms of service and amenities, often including meeting rooms, a fitness center, and a swimming pool. As a result, the operations of this class of hotels are more predictable in comparison to full-service hotels. Some examples include Fairfield Inn, Hampton Inn, and Holiday Inn Express.
Budget: These “no frills” hotels may offer one or two guest services or amenities, but they tend to focus on providing the basic necessities for a very low rate.
