Although McDonald’s failed foray into the hospitality industry is a cautionary tale for some, other established consumer brands are optimistic about their chances of reviving an industry sometimes beleaguered with the status quo.

Players who have thrown their brands into the ring include Baccarat, Harrods, Nickelodeon, Virgin, Lego, and more.

“Consumer brands are now becoming hotel brands,” explained Rob Cornell, senior VP of global development for Preferred Hotels & Resorts, which recently partnered with Paramount Hotels & Resorts. “And the most critical step (for consumer brands) is getting in front of a core audience to establish credibility.”

 

Tags: marketing