Roping in Millennials with inexpensive exotic experiences

The Moxy Times Square is a part of the Marriott empire. There are 20 Moxy hotels around the world and Marriott plans to open 90 more by the end of 2021.

Marriott’s strategy is base on a simple principle: Millennials, many of whom saw their parents struggle with jobs and mortgages during the recession, generally have less interest in buying the big house, flashy sports car and designer clothing that previous generations sought as status symbols of success. However, they will pay for the right experiences and technology. Other brands are doing it too.

IMAX rolled out six virtual reality theatres in New York, Los Angeles, Shanghai, Manchester and Toronto over the last year as a pilot project to attract Millennials. Buick has started marketing the brand as “attainable luxury” to attract younger buyers. It would seem that Millennials are in for a good time.

Source : https://www.nytimes.com/2018/02/25/business/media/wooing-millennials-with-exotic-experiences-that-arent-too-costly.html