Editor: The industry must embrace hotelisation, whereby any asset can offer services, unique experiences and a space to connect with others.
The changing working and lifestyle preferences of the millennial generation have triggered an evolution in millennials’ relationship with asset owners and landlords. Landlords are realising that they cannot merely be a provider of space; they need to transform themselves into a provider of service and experience, interacting with occupants just like guests in a hotel or restaurant.
At the heart of real estate development is creating a destination and for this to be a success, excellent customer service is crucial. But hotelisation is now going a step further. Consumers increasingly expect a digital environment as part of this service and are prepared to spend more for a digital building.
Digital property management platforms are accelerating the hotelisation of real estate. While occupiers benefit from instant and seamless customer service round the clock, asset owners and landlords can utilise real-time data recorded from a portal to ensure efficient building performance and deliver a service that meets the needs of customers.
However, the key to its success is centred around finding the right match between people and technology. The interests of both must be aligned, offering a seamless service that is in keeping with the specific building and its brand.
Furthermore, no asset owner or landlord should rest on its laurels. In real estate, this is an evolutionary notion, and the data and perceptions recorded should look to develop the way in which a building functions further, ensuring it remains current and serves the needs of the occupiers.
Guy Windsor-Lewis, chief executive and founder, Locale