By Danielle Hyams and Cameron Sperance
July 10, 2020
The coronavirus pandemic has sparked the worst year for the travel industry on record, and business leaders are in a survival mode of shedding unnecessary expenses and assets. But beefed-up hotel brand portfolios are likely here to stay.
Industry critics have chided hotel companies in recent years for adding so many brands. Five of the world’s leading hotel companies — Accor, Hilton, Hyatt, Marriott, and Wyndham — have more than 120 between them, ranging from Super 8 to the Ritz-Carlton and everything in between.
Not even coronavirus can deter the hotel industry’s growing embrace of so many brands operating within a single company. But global companies have to maintain distinct brand identities rather than inflate concerns of brand bloat.
Pre-coronavirus, companies viewed having more brands as a logical strategy to capitalize on the trend of personalized experiences across the hospitality industry at large. But given the current uncertainty surrounding travel, a beefed-up brand offering can also help companies gain market share across a variety of sectors as travel demand rebounds.