Four Seasons makes moves to compete with Airbnb’s entry into luxury market

Hotel chain launched new app and guest recognition program

TRD New York /
Jun.June 08, 2017 03:20 PM

As Airbnb plunges headfirst into the luxury market, Four Seasons Hotels and Resorts is taking steps to maintain millennial interest.

The five-star hotel chain launched a mobile application with a chat function and plans to start a guest recognition program, Bloomberg reported. Four Seasons CEO Allen Smith said that the company must stay on top of emerging trends or risk losing relevance.

“I would be naive to say that we aren’t being mindful of the Airbnb effect,” Smith told Bloomberg. “It’s just another example of the speed in which the market is changing and the manner in which we need to be prepared to respond to it.”

In February, Airbnb acquired Montreal-based Luxury Retreats, a high-end rentals manager in a deal valued at $300 million. The deal put Airbnb is direct competition with the Four Seasons’ own rental service. In March, Airbnb’s CEO hinted that the company may go public in 2018. [Bloomberg] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC
From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)

The Airbnb crackdown continues: City targets three more buildings

The Airbnb crackdown continues: City targets three more buildings
Columbia Property Trust CEO Nelson Mills and 245-249 West 17th Street (Photos via Columbia Property Trust; StreetEasy)

Columbia Property Trust collects 98% of its rent in Q3

Columbia Property Trust collects 98% of its rent in Q3
A study found that NYC renters lose $178M per year due to long-term rentals being reallocated to the short-term market (Getty; Pixabay)

Airbnb costs New York City renters $178M a year: study

Airbnb costs New York City renters $178M a year: study
The Factory building at 30-30 47th Avenue with Square Mile Capital’s Craig Solomon and Invesco CEO Marty Flanagan (Photos via The Factory; Square Mile; Invesco)

Here’s what tenants are paying at the Factory in Long Island City

Here’s what tenants are paying at the Factory in Long Island City
Jeff Bezos (Getty, iStock)

“We are erring on the side of having too much capacity”: Amazon reports massive Q3

“We are erring on the side of having too much capacity”: Amazon reports massive Q3
Bob Sulentic (Getty, iStock)

CBRE income falls nearly 10%

CBRE income falls nearly 10%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...