Just as in other industries, travel and tourism experiences trends: a certain type of trip becomes incredibly popular, or a previously unknown location becomes a must-see destination. While some trends stick around from previous years, others seem to come from nowhere, reaching critical mass in no time. As 2016 gets underway, we take a look at 7 of tourism trends, both old and new, that are likely to be big for the year ahead.
7. Crowdsourcing Luxury Hotels
Traditionally, the construction of hotels has been financed by banks and investments, but the luxury hotel segment has been increasingly turning away from these sources of financing toward a new option: crowdsourcing. With a potentially long lead time on funding, individual luxury hotels with unique features are finding that appealing directly to the people interested in what they have to offer enables them to secure financing that might be denied by more traditional routes. Through crowdfunding, individuals interested in different hotel concepts can directly invest in the development of these new properties. One example is the Prodigy Network crowdfunding real estate firm, which is currently planning to construct a 194-unit space in downtown New York. The hotel will offer space for both short- and long-term stays.