The Hotel Indigo Forum in San Jose, Costa Rica is the brand’s first property in Central America.

What’s the difference between a boutique hotel and a lifestyle hotel? While no accepted industry definition exists at present, panelists at last week’s Midwest Lodging Investors Summit in Chicago attempted to parse the differences between the two lodging types.

Janis Cannon, vice president OF brand management for IHG’s Hotel Indigo, offered the most succinct definitions for the two segments.

“Whereas each boutique hotel is unique, lifestyle hotels tend to be prototypical,” she said. “A lifestyle hotel allows travelers to live on the road as they do at home.”

While boutique properties are traditionally independent, Cannon calls Hotel Indigo “a boutique brand but with all the underpinnings of a big brand company.”

Other panelists had slightly different perspectives on what separates boutique from lifestyle. Sean Skellie, a vice president with boutique operator Inn Development and Management, called boutiques “niche hotels that are indigenous to an area and have a strong focus on service. They also need to deliver a quality food and beverage experience.”

Bill Hanley, partner with Vantage Hospitality and managing director of the company’s Lexington Hotels, had yet another take: “Customers of boutique hotels want the operators to know them personally. They also want privacy and exclusivity but they’ll pay for it. At lifestyle hotels, guests want to be connected and want consistency from property to property.”

The panelists recognized the role psychographics rather than demographics plays in identifying and attracting customers to either boutiques or lifestyle hotels. Cambria Suites, Choice Hotels’ new lifestyle brand, cuts across many customer segments, said Kevin Lewis, Choice’s president of upscale and extended-stay brands. “Cambria was built for Millennials but we found the product appeals to a lot of customers up and down the food chain.”

Cannon said it’s important to “understand the hearts and minds of people and why they choose to stay with you.” To demonstrate the importance of guest interests and attitudes rather than age, she recounted meeting a happy Hotel Indigo customer who believes the product is right for him because, as he said, “I was an artist when I was 20 and I’m still an artist at 60.”

Despite the growth in both the boutique and lifestyle segments, challenges still exist in financing the products. “On one hand, lenders are always looking for the next hottest trend in the hotel industry, but it’s an education process to get them to understand the potential of lifestyle hotels,” said Lewis.

The hurdle is even higher for independent properties. As Skellie pointed out, lenders are hesitant to give money for non-branded properties, “even when you can show them definitive performance numbers.”

All issues related to boutique and lifestyle development, operations and marketing will be discussed in-depth at the upcoming Lifestyle/Boutique Hotel Development Conference, which will be held Oct. 11-13 at the Fontainebleau Hotel in Miami Beach. Lodging Hospitality produces both the Midwest Lodging Investors Summit and the Lifestyle/Boutique Hotel Development Conference.