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Fig . 9 Importance to corporates when deciding between a hotel and serviced apartment - ( weighted average score out of 5 )
In-house services is jointly ranked third most important by corporates (# 3 in 2022 ). Alongside this , corporates also rank the need for a designated workspace in third place . Quality and security assessment jointly ranks fifth amongst corporates (# 4 in 2022 ). 24 / 7 support also ranks fifth (# 2 in 2022 ).
Agents rank 24x7 support as third most important ( unchanged from 2022 ) and family accommodation fourth (# 4 in 2022 ).
Perceptions and needs
Agiito is a leading UK-based TMC . Chief Commercial Officer , Steve Banks believes Covid changed traveller perceptions of serviced apartments and made travel managers realise that extended stay products are a better fit for their travellers post pandemic .
“ Corporates want to empower their travellers to make decisions , and as people travel again after Covid , they want more of a home from home experience . They want more space . They want to feel secure and safe , obviously , as well .”
“ Consequently , serviced apartments are now an integral part of corporate travel programmes . Travel managers want properties on their programmes to be compliant with travel policy and from a regulatory perspective . The guest experience is really important too .”
The same applies to relocators , as Oasis ’ Steve Frey confirms . “ Gen Z are used to the sharing economy . For their personal travel , they ’ ll book Airbnb and VRBO because it ’ s a more cost-effective option . However , there have been well documented issues with these types of bookings when there is a lack of accountability and duty of care . That creates an opportunity within our space to harness that type of inventory , while adding the accountability that is required for clients ( vetting properties , quality control procedures , 24 / 7 ultra-responsive guest services , duty of care , DE & I , environmental sustainability , technology , reporting , etc ).
“ These younger generations have grown up with products and services that are customisable and exactly the way they want it . With alternative accommodation , they want the same thing . They don ’ t want a generic , one-style-fits-all accommodation . They want to book a place that has a style and feel that speaks to their own style . The really cool part of harnessing the sharing economy is that every unit is different , and the travellers can find the accommodation that speaks directly to their personal taste .”