Impact of Turnkey on the Hotel Industry and Strategic Recommendations

This report examines the impact of Turnkey, a vacation rental company, on the hotel industry. It begins with an introduction to the hospitality sector, highlighting lodging, food & drink services, and the importance of leisure time and disposable income. The report evaluates the success of Turnkey, founded in 2012, and its disruption of the traditional hotel model by offering furnished rentals with flexible booking options and competitive pricing. The report then analyzes current trends in the accommodation sector, including chatbots, mobile apps, and digitized room keys. It also explores the concept of disruptive innovation and how Turnkey fits within this framework. Finally, the report recommends strategies for the hotel industry to minimize Turnkey's impact, such as effective use of technology and product differentiation, emphasizing the importance of adapting to technological advancements and offering unique guest experiences to remain competitive.