GSAIR 2023 : AMERICAS 16
Key destinations and rates
Misty Gregarek is President and COO of National Corporate Housing . She shares with us the key destinations they are currently experiencing exceptional demand for and the outlook for the future .
North America By Misty Gregarek
Most booked corporate destinations and market segmentation
In 2023 , the corporate housing sector sees diverse booking destinations that mirror distinct business travel purposes . In analysing National Corporate Housing distribution YTD , we are seeing the following :
1 . The most striking aspect of this distribution is the dominance of global travel , accounting for 42 % of the total revenue . This suggests that companies are increasingly looking beyond domestic borders to secure business opportunities , fostering global expansion and international partnerships .
2 . Relocation , at 24 %, is the second-largest segment of corporate housing demand . As companies expand or restructure , this highlights the importance of employee mobility and the critical role that corporate housing plays in supporting these transitions .
3 . A catch-all of the remaining business , we see international , local and miscellaneous needs being met . This includes various types of corporate travel , such as internal meetings , training , and conferences . It represents the backbone of corporate operations , where in-person collaboration and communication are essential for productivity and knowledge sharing .
Understanding and adapting to these trends is crucial for businesses in today ’ s interconnected world .
When it comes to key corporate destinations in North America , the East Coast takes the lead , commanding a 34 % share of interest , with a particular focus on Washington , D . C ., and New York City . Following closely , the Midwest emerges as the second most soughtafter region at 23 %, with Illinois ( especially Chicago ) and Minneapolis driving the appeal . The Southern and Western regions of the United States complete the landscape , each accounting for 16 % and 15 % of the corporate destination preference , respectively .
Photo : Blueground .