Business Travel Executive, October 2017

SPECIAL REPORT Winning the Long Game 38Business Travel Executive OCTOBER 2017 tion We have to be mindful says Curtis that within Airbnb is a group of professionals who will organize themselves and potentially compete with us What it does is force our industry to be wary of getting stagnant with what we offer That means understanding what draws people to the Airbnb platform It might be that our product would fit in with Airbnb HomeAway MyKey and others says Curtis At the end of the day they are apartments At Airbnb itself says Bulgrin the average stay is five to six nights twice that of a hotel and 15 percent of nights booked on Airbnb are for business travel She says the platform is positioning itself as a supplementary option for companies when inventory is limited in certain cities or when travelers are looking for certain amenities Weve also seen a trend of group offsites onsites says Bulgrin For example a company might send a team to Lake Tahoe to bond and work for a week with Airbnb for Business they can rent a large cabin and stay together Also for relocations especially with families and pets people want to stay someplace that feels like home when everything else is unfamiliar They want to test out the neighborhood and school district theyre eventually going to move to A Focus on Fun The emphasis on experience means a need to create a sense of fun Yes fun Its a word that would not have been used 20 years ago in describing corporate housing says Curtis but now it joins cost effective and high quality Companies are looking for fantastic social spaces amenities like courtyards and barbecues There are certainly product drivers that are based off generational aspects says Partin Millennials typically like to have shared spaces where they can hang out together and have work spaces You are seeing properties with lounges and game rooms Newly built properties are designed for people who will not be spending all their time in their rooms A nice corporate apartment is a given says Partin but customers now expect a lot more like good service lease flexibility and a turnkey experience You walk in with a suitcase and you have everything you need And we can offer perks like Uber rides Fresh Direct grocery delivery and dog walking And that can be ratcheted up for VIP customers with white glove services At Oakwood says Spencer Oakwood Studios Singapore and Oakwood Premier OUE Singapore offer tech enabled spaces that complement the technology driven lifestyle of residents For example landlines have been replaced by smartphones and an in room tablet with the Oakwood app is provided so residents can request in house services with only a finger tap The Oakwood app also provides links to locally chosen restaurants as well as bars late night dessert bars and parties The Travel Manager Piece With all these monumental changes travel managers are seeing their own roles in long term lodging evolve Curtis says he is beginning to see travel managers get more involved as they figure out how to harness business travel and mobility relocation into the same bucket Synergies would be gained by putting those things together says Curtis Because of that convergence I run a hotel program If you were moving to Seattle I could put you in a hotel for three days and then an apartment for a month I outsource the hotel program but we are able to leverage our large spend to drive rate and ease of booking And travel managers have to monitor emerging factors that have an impact on long term lodging needs Partin points out that travel managers are dealing with some new situations like political issues around immigration Sometimes it takes longer for someone to enter a country and that means we have to be fluid with lodging The process is often taking longer late arrival dates are more common and there may be sudden changes in the information required by the parties involved Corporations are reacting to these changes as quickly and effectively as they can and so are temporary housing providers Corporate housing providers are working to build on their advantages in a variety of ways including as Goswami says being much more than just a booking engine He explains Corporations need multi faceted experiences on the single platform booking flexibility of payments leasing and documentation post booking support in case of problems during stay integration with the corporate eco system and duty of care systems Goswami sums up the future for corporate housing this way As technology continues to evolve we must remain adaptable and constantly look for ways to assist and enhance the booking experience The key is leveraging technology across various functions like sourcing curation and enhanced service We constantly seek to innovate to improve experience because experience design is the key BTE Oakwood Premier Property