The Return to Travel | What to Expect on the Road
Corporate America is buzzing with expectations for economic growth for the second half of the year, with the latest (June 2021) GDP growth estimates from The Conference Board set at an eye-popping 9%. With the growth comes challenges in terms of talent management, the return to the office, and global travel –specifically accommodations. Employees who are accepting relocation offers and temporary assignments/project work away from home have robust expectations for health, safety, and employer duty of/to care. Travelers are requesting larger rooms and turning more to corporate housing solutions vs hotels to provide safety and comfort as they adjust to conditions in a world still emerging from the Covid-19 pandemic.
US Serviced Apartment Trends
Based on Dwellworks Living polling from our supplier-partners in key US markets, we’re proactively advising clients about the short-term accommodations market in the coming months:
- Demand is rising, putting pressure on supply – as corporate housing providers vie with long-term rental landlords for limited apartment availability
- 2- and 3-bedroom apartments – being requested more frequently for safety/security reasons – are in limited supply in most markets
- Demand for single-family home rentals is also outpacing supply – as landlords opt to sell vs. rent in red-hot real estate markets
- The global supply chain backlog for furnishings and building supplies and the shortage of workers is impacting overall housing supply and set-up
Tips to Navigate the Current Market
What’s the supply solution, with so much demand in the pipeline? Here are our suggestions to optimize guest outcomes:
- Corporate housing, overall, offers more space and privacy than hotels and is definitely a preferred option for travelers
- While no supplier can guarantee 3-bedroom choices in every city and on-demand, the average size of even a 1BR corporate apartment is 50% greater than a hotel room
- Plan ahead – do not hedge your booking strategy. If you anticipate a need, tell us now so we can optimize choices
- If you think the stay will be for 90+ days, make that known at the time of request – you’ll get a better price and more choices vs asking for a 30 day stay and extending (and running the risk that the property is already booked for the next guest)
- Respond quickly to options when presented – as with homes and apartments, corporate housing offerings go quickly – do not delay in finalizing your choice.
Dwellworks Living: Global Solutions for Corporate Accommodations
Dwellworks Living is committed to providing our clients and their employees with the best possible corporate housing and serviced accommodations experience. With a global network of property partners, a tri-regional team of customer experience and supply chain professionals, and a wide range of services for global mobility and travel customers, Dwellworks Living can provide the perfect corporate housing solution for any need or budget.
Dwellworks Living is the global corporate housing solution of Dwellworks, an award-winning, business-to-business provider of global mobility and business travel services. As a global leader in corporate housing and serviced accommodations solutions, Dwellworks Living is uniquely positioned to meet the temporary living needs of businesses and their employees who are relocating or traveling on short-, medium- or extended-stays. With 60,000 high-quality professionally managed properties in over 125 countries worldwide, Dwellworks Living is the preferred housing solutions partner of many Fortune 1000 and leading relocation management companies.
Dwellworks Living's corporate housing and serviced accommodations solutions are designed to help businesses attract and retain top talent, support employee productivity, and ensure a smooth and successful relocation or business travel experience. In addition to our core global accommodations management services, Dwellworks Living, through our worldwide network of local experts, is uniquely capable of offering our clients expanded and related services, such as area orientations, group move assistance, destination services and intercultural training.
Whether you have corporate housing needs for an individual employee or a large team, Dwellworks Living can provide the serviced accommodations solutions you need anywhere in the world to ensure a safe and successful stay. Please contact us to learn more or visit our Properties page to begin your search for global corporate housing accommodations.