Hotel Rebranding Market Research
Hotel rebranding is more than a redesigned logo; it is a strategic transformation to make the brand more competitive and attractive to its consumers. That’s where the critical role of hotel rebranding market research emerges.
Hotel rebranding market research helps global businesses modernize the brand and target a new audience with a redesign that allows them to stay in tune with market updates.
Why Is Hotel Rebranding Market Research So Important?
Hotel rebranding is a strategic transformation that seeks to align a hotel’s identity with current market dynamics, future aspirations, and evolving guest expectations.
However, beneath this transformation lies several considerations, risks, and opportunities, each of which holds the power to shape the trajectory and outcome of the rebranding endeavor. This is where hotel rebranding market research becomes an irreplaceable resource to take into account before making any modifications to the brand.
Some of the elements that make hotel rebranding market research an indispensable tool include:
- Shifting Demographics: As the generational composition of travelers changes, so do their preferences, values, and expectations. Hotel rebranding market research provides valuable perspectives into these evolving dynamics, ensuring that rebranding resonates with both existing and emerging customer segments.
- Feedback Loop: Past guests provide valuable feedback on what they liked and what they felt lacked in their hotel experience. This feedback becomes the bedrock on which rebranding strategies are formulated in market research.
- Positioning: Understanding where the hotel currently stands in the market compared to competitors is crucial. Hotel rebranding market research can also spotlight areas where competitors are underperforming, providing an opportunity for the hotel to fill those gaps through its rebranding efforts.
- Informed Decision-making: Rather than relying on intuition, decisions backed by concrete data minimize risks of missteps or oversights during the rebranding process. By identifying emerging trends, hotels can align their rebranding strategy with future market movements, ensuring long-term relevance.
- Prioritization: Hotel rebranding market research helps in setting clear priorities, ensuring that the most impactful elements of the rebranding process are tackled first. Understanding which aspects of the brand need major overhauls and which require minor tweaks ensures that resources are allocated optimally.
- Consistency: Comprehensive hotel rebranding market research ensures that all elements of the rebranding, from visual elements to guest experiences, convey a consistent and cohesive brand message.
The Role of Technology
As technology continues to permeate all aspects of business operations and consumer experiences, its implications in hotel rebranding market research are profound.
This is why it is important to analyze the technologies that change the hotel rebranding market research, especially to acquire new analysis that allows businesses to clear up even more doubts about consumer preferences.
- IoT (Internet of Things): Devices like smart thermostats, voice-activated assistants, and IoT-connected room services capture real-time guest behaviors and preferences, providing rich data for rebranding considerations.
- AI-Driven Surveys: Artificial Intelligence enhances survey tools, allowing for adaptive questioning where the survey evolves based on previous answers, capturing deeper and more relevant insights.
- Real-time Feedback: Mobile apps and digital platforms allow guests to provide instant feedback during their stay, offering timely and actionable insights.
- Brand Sentiment Analysis: Tools powered by Natural Language Processing (NLP) can scan social media platforms and review sites, gauging the overall sentiment toward the hotel brand and identifying areas of concern or praise.
- Mock Visualizations: Before implementing physical changes, hotels can use virtual reality (VR) to create mockups of new interiors, logos, or layouts, allowing stakeholders to experience the proposed rebranding and provide feedback.
- Forecasting: By analyzing past data and current trends, predictive analytics tools can forecast future guest preferences, market shifts, or potential challenges, ensuring the rebranding strategy is forward-facing.
Case Studies: Successful Hotel Rebranding
The decision to rebrand can be a significant turning point for any hotel, determining its future success and relevance in an increasingly competitive market. Here are a few case studies that demonstrate the powerful synergy between effective hotel rebranding market research in the real world:
- Moxy Hotels by Marriott: Marriott International embarked on a rebranding initiative to create a brand focused on a new segment after recognizing a gap in its portfolio for millennial-focused, budget-friendly travelers. Extensive surveys and focus groups targeting millennials revealed a preference for affordable luxury, communal spaces, tech integration, and an authentic local experience. In the end, Moxy Hotels rapidly expanded across various locations, with its distinct branding resonating deeply with the millennial demographic.
- AccorHotels’ Launch of JO&JOE: To cater to the younger, more experiential travelers, AccorHotels sought to introduce a new brand called JO&JOE. Deep dives into the behavior of millennials and Gen Z travelers highlighted their inclination toward social interaction, unique experiences, and flexible accommodation options. The result was JO&JOE, a blend between hostel and traditional hotel. The spaces were designed to encourage social interaction, offering a mix of private rooms, shared sleeping areas, and communal hubs.
Future of Hotel Rebranding Market Research
The future of hotel rebranding market research will depend on technological advances, evolving customer preferences, global events, and changes in the hospitality landscape. The following trends and projections stand out:
- Data-Driven Decision-Making: The ubiquity of data analytics and machine learning will enable hotels to make more informed decisions about rebranding. The predictive analysis will help forecast market reactions, ensuring rebranding endeavors resonate with target audiences.
- Sustainability and Eco-consciousness: The global emphasis on sustainability will shape hotel rebranding. Hotel rebranding market research will pivot toward identifying the best strategies to highlight eco-friendly practices, from sustainable building materials to waste reduction initiatives.
- Digital Transformation: VR will increasingly influence the guest experience with immersive technologies in the rebranding process. Market research will delve into how these technologies can be leveraged to offer unique guest experiences.
- Personalization and Local Experiences: Travelers are seeking localized experiences. Hotel rebranding market research will focus on understanding regional nuances and preferences, enabling hotels to rebrand in ways that deeply resonate with local cultures and tastes.
- Diversification of Services: Traditional hotel services may diversify to include co-working spaces, long-term stay options, or even experiential packages. Rebranding research will explore how these services can be integrated while maintaining brand integrity.
- Inclusive and Diversity Branding: An increasing awareness of diversity and inclusivity means that rebranding initiatives will likely prioritize these values. Market research will be crucial in understanding the diverse needs of global travelers and ensuring branding appeals to a broad audience.
- Collaborative Models: The future may see more cross-industry collaborations, with hotels partnering with entertainment, tech, or even education sectors. Hotel rebranding market research will assess the viability and benefits of these partnerships.
About SIS International
SIS International offers Quantitative, Qualitative, and Strategy Research. We provide data, tools, strategies, reports and insights for decision-making. We conduct interviews, surveys, focus groups and many other Market Research methods and approaches. Contact us for your next Market Research project.