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- Common intersection of residential and hotel in serviced living is becoming increasingly important
- Developers, investors, operators, architects and suppliers must react to these developments
The Future of Hospitality Institute, a think tank for the hotel, residential, tourism and leisure sectors, has launched the “future living” research project.
Paul Rands MRICS, Managing Director of the Future of Hospitality Institute, says: “Over the next two years, our research project will explore trends and innovations in the fast-growing serviced living sector, where residential and hospitality meet.”
In addition to the Future of Hospitality Institute and PKF hospitality group, 13 industry partners from Austria, Ireland, Germany, South Africa, the United Kingdom and the United States are participating in the project.
They include Adina Apartment Hotels, BSH Hausgeräte, BWM Architektur, DWF Group, Haefele, Integrated Media Solutions, JPI Hospitality Advisory, OTTO Immobilien, Reside, Sense of Place Architecture, SIGNA, so. me homes and V&A Waterfront.
The principal research partner is the Fraunhofer Institute IMW, which, with the support of the BVA-BDRC, will conduct a study on user demand and behavior in three European cities in different target groups of the serviced living sector.
Further research collaborations are planned. The project group will meet regularly, with the first face-to-face meeting taking place in Vienna in September.
“I’m excited that we have been able to bring together an outstanding diverse and multi-disciplinary group of partners to collaborate in the ´future living´ project, across geographies and asset classes. Supported by the world renowned Fraunhofer Institute and other international research partners we will be identifying the trends and innovations that will shape the serviced living sector over the coming decade and beyond”, says Rands.
Lee Curtis, CEO of Reside, one of the participants in the project, adds: “This is a great moment to kickstart the Future Living project; the way we live and work has irrevocably changed in a very short space of time, and it’s exciting to envisage how it will have further evolved over the course of the next two years. We’re excited to ultimately share these findings with our partners in the Reside network to help them adapt and futureproof their businesses.”
About Future of Hospitality Institute
Globalisation, urbanisation and digitalisation are affecting our everyday lives. In the last decade, we have experienced a dramatic shift in our day-to-day world. The emergence of remote and home office work, the development of a sharing economy (e.g. WeWork, Airbnb, Uber) and socio-demographic changes are just a few examples that will significantly impact our future living spaces and our overall lives.
The Future of Hospitality Institute, part of the PKF hospitality group, is a Vienna-based think tank with a global outlook. Our mission is to help industry stakeholders in developing future hospitality products that respond to the everchanging needs and wants of modern guests. In particular, the focus is on sustainable and technological advances, tools and ideas that save costs and create a unique user experience. s. www.fohinstitute.com
Paul Rands
Managing Director
Future of Hospitality Institute
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