Exploring the Rise of Hotel Assetization with Hoken

In this day and age, almost everyone has some kind of side hustle. Whether it’s freelancing, driving for a rideshare program, or reselling. For some, this is a means to an end, allowing them to pay rent and put food on the table. For others, this enables them to build a savings account and live a life full of traveling, shopping, etc. Whatever the reason may be, reselling has always been a relatively easy field to get into, with people all over the world collecting items and listing them on the internet.

We’ve seen everything from sneakers to baseball cards to vintage cards sold online. And we don’t foresee this side hustle going anywhere anytime soon. In fact, we’re only scratching the surface. With new companies like Hoken popping up, you now have the chance to turn your hotel rooms into an asset that puts money into your pocket.

What is the Assetization of Hotels?

Once upon a time, if you booked a non-refundable hotel, you were stuck with the reservation, no matter what circumstances arose. This meant that if your vacation fell through and you opted out of travel insurance, you were out hundreds if not thousands. It also meant that there was no way to make a profit on a hotel room. There was no such thing as buying a sought-after reservation only to turn around and sell it to someone else. That is, until now.

We know what you may be thinking, is it even worth trying to profit from a hotel room? You’d be surprised at just how lucrative it can be–especially in larger cities near some of the hottest events around the U.S.

Why Resell Hotels?

If you’re not convinced that reselling hotels is the right side hustle for you, we understand. Because it’s such a new concept, it’s easy to be wary. But there are quite a few benefits that you won’t get trying to resell that pair of Jordans you spent hours trying to get.

No Extra Inventory

Let’s face it, reselling physical products such as sneakers, trading cards, or clothing takes up a lot of space. And one of the riskiest aspects of reselling is holding onto inventory that doesn’t seem to be selling how you had hoped. This can lead to having to get a storage unit to store the products, which can cost a small fortune. It can also lead to donating thousands of dollars of merchandise or drastically lowering the price, causing you to break even or lose profits.

When reselling hotels, there are no physical items that you have to hold onto. Sure, you do run the same risk of not being able to resell, but if you’re carefully selecting the hotels based on large events such as festivals or concerts, you dramatically decrease this chance.

No Shipping Costs

When reselling, you want to maximize your profits. After all, the entire point of a side hustle is to give you more cash. By selling hotel rooms, you eliminate the need for shipping costs. This means not scaring off potential customers with shipping costs and more money for you. Once the purchase goes through, all you have to do is transfer the reservation into their name. This can be done with a quick phone call–it’s that simple.

More Reliable

If you’ve ever followed the reselling industry, you’re aware of just how much it fluctuates. One minute you could be making thousands of dollars, and the next, the demand has fallen off, leaving you unsure of how you’re going to afford dinner. Because hotel reselling is such a brand-new concept, now’s the time to get into it. It’s only going to get bigger from here.

Less Competition

Speaking of it being a new idea, when reselling hotels you are going to face a lot less competition. The market may be saturated everywhere else, but not here. There’s not too much inventory out there yet, which means the likelihood of you selling is exceptionally high. If you’re someone afraid of risk, this is huge.

How Hoken is Set to Change Event Accommodations

Music festivals, concerts, sports games, conferences–there’s no shortage of events in the world. With these events comes out the demand for accommodations. Coachella attracts over 200,000 people every year. Lollapalooza brings in over 350,000. Needless to say, being ahead of the curve is essential if you’re attending one of these events and need a place to stay.

That’s where Hoken comes in. With Hoken’s Hotel Marketplace, you can buy and sell hotel rooms for some of the hottest events in the United States. Buying using the marketplace can save you up to $350 a night. And it really is as simple as buying the room and showing up on your reserved date.

If plans change, or you’re just looking to make a little extra cash, you can resell the room using Hoken. It allows you to track what you paid and what you could earn by tracking market demand. This means you make money, and someone else gets that extremely hot hotel room. It’s a win-win for everyone involved!