AUSTIN, Texas — Millennials and Gen Z are gaining economic power and shifting the hospitality industry.
"Over the past three to four years, the economic climate, one thing that we've realized is people are not slowing down travel," said Portoro short-term rental director Alex Wertz.
Millennials know what they want. A travel study by American Express found that 84% of millennials travel where they can immerse themselves in the culture. That includes where they lay their heads.
Wertz said his team added a more Austin flair to his East Austin rental because the demand was clear.
"Every guest here is going to be greeted with local wines specific to Austin and/or Central Texas as well," he said.
Austin artwork, coasters and other items from local businesses are placed all over the home.
Wertz said they've all been a hit while promoting local spots.
"We actually get asked a lot about, 'Where did this come from?'" Wertz said. "'Where can we go to get them? How can we get them home?' And things like that."
Major hotels are making shifts too. Some have launched brands to specifically attract Millennials, like Moxy by Marriott, which is aimed at being affordable and fun. There is a location near The University of Texas.
Wertz said the hyper-local décor and drinks set them apart from hotels and help keep his rental booked every weekend.
"We can deliver a little bit extra to make the guests feel that they're are getting that extra value," Wertz said.