The hotel and lodging experience for the modern-day traveler is different from previous generations. In just about every market, hotels are being pushed to find new and innovative ways to stay competitive because of alternative lodging platforms that offer options for consumers looking for short term rentals ranging from single rooms to whole houses. The crisis faced by traditional hotels is in part fueled by the wants and needs of the new consumer. Millennials comprise a large segment of travelers in the United States, and of those surveyed 70 percent said that travel is “core to their identity” and 65 percent asserted “regular travel is an important part of my life.” These same millennials also stated they are looking for a unique travel experience that will allow them to “live like the locals do.” One must also account for the fact that many travelers, not just millennials, are tech-savvy and therefore looking for methods to secure lodging accommodations in an efficient, user-friendly method, while also getting the biggest bang for their buck.
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