Housing crunch  

The world now stands at a 7.9 population and it is increasing by the moment. If floating cities can be a valid enterprise real estate option then housing the rising population can be combatted. The world leaders are worried about the population explosion and the lack of sustainable real estate to house these people.  

Decreasing coastlines  

Research studies show that more than 410 million people are at a risk to be uprooted due to rising sea levels. If there is no action taken against global warming then these events are likely to become more aggressive.  

Saving at-risk people from climate crisis - Till 2020, as many as 40.5 million people had to move homes due to climate change and rising water levels.  

Though we have learnt that floating cities were backed by the UN, do we really understand what this means? 

They are essentially modern tech-based sustainable cities on the sea. They are supposed to be self-sufficient and adverse climate events resistant at the same time. All prototypes of a floating city believe that they will be independent and self-governed habitats. But they will not actually float around on the water, they will be static at one place.  

The plans of making this 10,000 people floating city off the coast of Busan has now started off. As per reports and Oceanix creators, this city will be flood and earthquake resistant. The Oceanix owners, UN-Habitat and South Korea reached an official agreement on the matter.  

It is now only a matter of time before we find out if these prototypes of the floating city are viable in the real world or not. As this is the first of its kind, there is no way any number of scientists can predict what the future holds. 

As Busan is threatened by the rising global sea levels, the first real prototype of the project has been sanctioned here.  

If you are a real estate business person then a floating city is sure to intrigue you. Even if you are not a part of this utopian concept it is sure to pose some serious questions for your real estate. What are people looking for in floating cities?  

That these cities are sustainable and eco friendly. Then these are the same questions you need to ask about your own real estate business. These are important questions that tech-savvy millennials are posing. Floating or not, the future property buyers want environment-friendly housing. You need project management best practices implemented to find answers. 

Here good strategy and leadership will help you find plausible solutions. As many as 83% of millennials said they want sustainable housing. If that is some number to go by then you need better property management, home building and construction to cater to these demands. 

There is genuine concern among a group of scientists is that the idea of floating cities might be a quick fix to a bigger climate crisis. They are of the opinion that it is like putting a small band-aid to cover a bigger wound. Though floating cities might be sustainable in themselves, it does not solve the rising water level crisis.  

Even though the UN showed support to the idea of a floating city they still had questions about its cost-effectiveness and feasibility. The whole idea is pretty new and is yet to get to its full potential. Till then it is all about waiting to see the launch of the first floating city. 

Now, floating city plans might still be a little way out. But if you’re looking to manage your properties better, there is nothing wrong with taking inspiration from sustainability. Or, knowing how to manage your assets better.  

At Assetsoft, we can help you choose the right property management software for your business. Our Yardi consultant experts know your real estate business in and out. We can help you implement the best strategies for property management. Integrate all your services under one platform, automate tasks and make tenant management easier. Talk to us today!  

The Canadian hospitality market kept hoping for a resume in corporate travel but statistics show otherwise. Market data shows that weekend hotel bookings are much higher than on weekdays. Weekend travel is mostly dominated by leisure travellers. Weekday bookings are banked on corporate companies and work-related travel. 

With two sets of COVID waves, the delta variant and omicron, the work travel is at a constant low. But it is also noteworthy that though the number of work trips has reduced, the duration of these trips has increased. Companies are practising this to get maximum work done in single trips. This trend has given some boost in the dipping market. 

In the growing age of technology-based solutions to business and life problems, travellers expect you to provide them with quick solutions too. You need to optimize your assets in order to come out stronger on the other side of the pandemic.  

Use of AI - 

From the use of algorithms to customise travel plans for your customers to conducting digital assistance, AI can do more than you think. As a real estate property management owner, you need an assistive technology implementation plan to smoothen the process. The pandemic may have already taken a hit at your business, do not let technology hold you back even more. 

Companies like SkyScanner and Booking.com are using their chatbot services to change the game. They are using AI to offer their customers a personalised experience. 

At Assetsoft we make this process seamless for your business. From helping you choose the right real estate property management software for your business to property management, we are here for all your needs. Our holistic approach to organically incorporating technology into your business will give it the right push it needs. 

Promoting combined work & leisure stays - 

Employees across the globe have become highly mobile due to remote work. People are now indulging in workations. You need to tap into this market and promote your business as a dependable workspace as well as a reliable leisure provider. You need to blend the best of both sides of the hospitality industry to understand the present market trend.  

Data analytics - 

You will find endless market data on the hospitality industry. It is not cost-effective for a human to process this. Your business needs technology to make this faster and error-free. From finding what services worked best with your customers to finding booking trends, you can get all of it in a click. Contact the Assestsoft team today to get started and take the first step forward.  

Big stakeholders in the market like Booking.com and many more are already using Data analytics to conduct their daily business. You need to rethink your project management processes to imbibe these essentials at the quickest. 

It is unclear as to when business travel might return to a pre-pandemic state. The world has reached a state where people and businesses are learning to work with or around the pandemic. Your business needs to get on top of this trend to make it boom. The hospitality industry is grilling under the pressure of the pandemic but there are some changing travel trends to look forward to. 

But effective strategy and leadership can make better use of the available resources to better business. You can onboard business support service providers to optimize your available assets. 

The Assetsoft team can guide you in better asset management, property management and customise strategies for all your business needs. Our experts can help you work with Yardi project management system and MRI services and provide you with the right set of tools to streamline your business. Contact us today to know more. 

Not all news from the travel industry is bleak. Here are some hospitality business data to inspire you for a better tomorrow.