Exploring the Market Gap for a New Luxury Hotel in London. A Case Study on the GenZ Niche and the Creation of Famassy Hotel
Project Report from the year 2021 in the subject Tourism - Hotel Management, grade: 1,7, Hult International Business School, language: English, abstract: This essay discusses the market gap for a new luxury hotel in London that caters to the niche of "Generation Z," a demographic group born between 1995-2010 and is characterized by their digital connectivity, diversity, inclusion, and emphasis on experiences. The essay explores the unique consumption patterns of Gen Z, particularly their focus on culinary experiences, which they prioritize over fashion and technology. The essay argues that the hotel industry needs to adapt to the changing needs and expectations of new generations and presents the Famassy Hotel as an innovative solution that meets the demands of Gen Z.The Famassy Hotel is a luxury hotel that focuses on inclusion, diversity, and sustainability. The hotel aims to provide an experience that is both local and global, with an emphasis on culinary experiences that highlight local culture and adventure. The essay contends that Famassy sets new standards in sustainability and diversity, two areas that are increasingly important to Gen Z. The essay concludes by asserting that hotels must constantly adapt to changing market conditions and demographics and that the Famassy Hotel is well-positioned to meet the needs and preferences of Gen Z, a demographic group that is likely to shape the future of the hotel industry.
