Developing assets to serve alternative travel requirements

Beyond resorts, alternative assets are attracting travelers seeking different experiences, and investors looking for new returns. What are the opportunities in segments such as serviced apartments and hostels?

Real estate business Hines, for starters, has been expanding its student housing platform. Seeing a gap in the market in Milan and a need for affordable accommodation, the group turns its student housing into hostels during the summer when the properties are unoccupied.

“After Covid, what we’re seeing in Italy is that all the traditional hotels have gone crazy in pricing and people can’t afford it,” explained Hines’ director–living, Stefano Pagliani.

“You’ve all heard of ‘glamping’, glamorous camping—what we’re trying to do is ‘glostel,’ glamorous hostel.”

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