Should You Start or Buy a Microhotel? Accountants Sunbury Ballarat Weigh In
By: Sky Accountants
The rooms are minimalistic but because they are well planned, they remain stylish and comfortable while observing optimal use of every square inch. The design even makes the rooms cheaper to clean and maintain than typical guest rooms.
Marriott, Hilton, Hyatt and former Club Med hotel operators have all introduced their own versions of microhotels in Europe, Asia and North America, allowing them to get more hotels on the map and a greater potential for repeat business. Typically, urban hotel rooms can range from 250 to 300 square feet. Microhotels have rooms that range in size from about 115 to 220 square feet. Independent microhotel brands, Pod from New York and Yotel from London opened their first hotels in 2007. Today, there are many others, including Hoxton Hotels, citizenM, Arlo and Hotel Hive to name a few.
Another type of compact accommodation that ranges from 30 to 56 square feet in size is now available at some airports, charging guests by time increments ranging from 15 to 60 minutes to overnight. Some even offer showers as well.
Industry experts believe that microhotels are here to stay and expect to see continued efforts by independent and hotel companies. Compact sleeping accommodations, boutique hotels and microhotels are anticipated to be very successful everywhere, especially in cities where real estate costs are high and length of stay is short.
As you look for different ways to grow and improve your hospitality business, seeking professional advice could prove to be an important and helpful decision.
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We would love to help you formulate investment strategies and streamline your processes to take your business to the next level. Our goal is to help you grow your business, find ways to invest more and increase your productivity.
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