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> 1. Large groups and families 2. Places where having a kitchen would be a great thing (either due to cost or because there’s not as many restaurants around) 3.
by secabeen 1y ago
> 1. Large groups and families 2. Places where having a kitchen would be a great thing (either due to cost or because there’s not as many restaurants around) 3. If you wanted to stay in a specific location
Yes, this. I strongly value all of the above items, and I greatly dislike the corporate, samey-feel of hotels. However, I recognize that I am a small part of the market; business travel is over 50% of hotel revenue pre-COVID, and business-people do not value the above features much at all.
VCs love when a new product offering emerges into a market that wasn't satisfying a market segment well. For a few years, it looks like the new market entrant can disrupt the entire industry, and if they time it right, the VCs can exit via an IPO or sale near the peak of the froth and reap ludicrous profits. AirBNB was this, there was a period where the market view was that AirBNB would destroy the hotel industry. Of course, it didn't happen, and the stock purchasers were the ones holding the bag.