Insights into the Changing Corporate Housing Industry
We are so pleased that our own VP of Sales, Craig Partin, could be a major source for Mobility Magazine’s July 2014 article, “More Like Home.”
The article addresses how corporate housing has adapted to meet the needs of today’s business traveler. According to the article, “New York-based Furnished Quarters noticed the trend several years ago with the arrival of, ‘very hotel-like and hotel-program-driven RFP’s’ to corporate housing providers.” Craig points out that the intent behind combining different types of business travel into one RFP is to allow a company to take advantage of greater buying power, rather than to separate the departments into smaller users of business travel and relocation inventory.
The article describes a cross-education between corporate travel offices and corporate housing providers. Craig notes that, “many travel offices have not worked with corporate housing enough to understand the nuances and in corporate housing, you can’t just show up at the front desk and show your credit card and be handed the keys.” Corporate housing experts too are learning that they need to gain expertise from the hotel side. Craig says this could range from “how you run your housekeeping function to how you deliver keys.”
The Ever Changing World of Corporate Housing
The merging and blurring of the lines between business hotel travel and corporate housing is showing itself in apartment-hotel hybrids, like Furnished Quarters’ venture with Rose Associates to open 132 extended-stay hotel apartments at 70 Pine in Lower Manhattan. “As this apartment-hotel concept continues to grow, I think you’re going to see some of the online booking capabilities and the total program management of combining relocation, travel, and short-term assignments all into one spend,” Craig says.
The article also illustrates how the hybridization of corporate housing and business travel will create new audiences for relocation firms. “Smaller firms and entrepreneurs who traditionally relied on hotel stays may find that relocation firms can help them get better prices and offer help moving in and out,” Craig says. He continues by explaining that buyers who haven’t experienced corporate housing—and don’t even know what it is—will become a totally new market of customers.
To read the full article, visit Mobility Magazine and turn to page 46.