Hilton’s Director of Development, Australasia, Tushar Raniga, discusses the evolution of corporate and MICE hotels and the key trends that are impacting future projects.
The corporate and MICE hotel sectors are evolving rapidly, driven by shifting market demands and emerging trends.
Owners are responding to the growing need for properties that cater to both business and leisure travellers to accommodate the popular “Bleisure” trend. Hybrid spaces that can host large conferences and provide exceptional leisure experiences are on the rise, allowing owners to maximize occupancy and rates throughout the week. At the same time, state-of-the-art conference facilities are crucial for meeting the demands of modern business events.
From a MICE perspective, remote working and virtual meetings have not diminished the need for face-to-face collaboration. There is a growing trend towards smaller and more frequent events. While city centre events will continue to dominate, regional hotels can attract these meetings with their unique and quality locations and offerings.
We have seen this trend play out as we continue to sign and open regional properties as part of our Hilton Garden Inn and DoubleTree by Hilton brands. The recent signing of DoubleTree by Hilton Hobart is a great example. The hotel will feature two versatile meeting rooms and is also within walking distance to the CBD – the perfect location for business travellers. Considering that more than 70% of Hobart’s existing hotels have less than 100 rooms and are independently operated, there’s a substantial opportunity for DoubleTree to introduce a superior level of quality to Hobart’s MICE sector.
Our development strategy has always been to sign the right hotel, with the right brand, in the right location, at the right time. With this in mind, we will continue to pursue both big-box hotels and smaller regional hotels, with a focus on conversions, where we know we can deliver the best possible guest experiences and owner returns given the current construction landscape.
There is a promising future for corporate and MICE hotels, with adaptability and innovation being key to success.