If you work in commercial real estate, and focus on the hospitality industry, you know that it’s a very competitive market. Finding the right property for your clients has a lot to do with location and access to transportation, among other variables.
It’s become fashionable for people (especially members of the millennial generation) to look for special or unusual experiences when they book a hotel property, so it stands to reason that properties that have a unique feature are more attractive. Many hotels are commissioning special artwork as part of their interior design. Some are also commissioning eye-catching murals. For guests, staying at a property where the building itself is architecturally important, or houses artwork by a well-known art is an integral part of the experience and attraction, and can be a deciding factor when choosing where to stay.
As an advisor to a client looking to sell a hotel property, you might suggest adding art to the mix.
You can read more about how art can help property values in Bisnow Denver’s article The Value of Art in Commercial Real Estate.