The business landscape has changed a lot over the past few years. We work differently, in different places and are beginning to travel differently too.
It’s that last change we’re discussing here.
Now business is firmly back in action, the demand for travel is steadily increasing. Even in the Zoom era, there’s still a need for in-person meetings and for staff to work outside the office.
Remote working and video conferencing answer some of the challenges of the modern business, but it cannot answer all of them.
People still have to travel to clients, work in other offices, travel to building sites or oil fields, be seconded to other universities or hospitals or undergo extensive training for new roles or responsibilities.
Life goes on and business never stops. Which means there’s a strong demand for business travel.
In fact, we have seen a significant increase in demand for business travel in the second half of 2022.
When everything around us is changing and evolving, why should we go back to the same old ways of working?
The old and new ways of business travel
Not all that long ago, if you traveled on business, chances are you took a flight, hired a car at the destination and stayed in a hotel near the airport or near where you needed to be.
It was a tried and tested combination that delivered predictability and the comfort of the familiar.
But it was far from cheap, or flexible.
Hotels are raising prices all the time. They nickel and dime you for every conceivable thing. They are located close to noisy airports or tourist areas and they are often busy and noisy.
None of which is ideal for the busy business traveler.
That all still happens, but there are now many more viable options.
You can ride share instead of hiring a car. You can home share instead of staying in a hotel.
You can also use corporate housing instead of a hotel.
Corporate housing is fully managed, fully furnished and equipped and designed as a genuine home from home.
What’s more, stay for 30 days or more and it could cost less than half a comparable hotel room!
All while providing a private space for your staff to eat, drink and relax with the comforts of home while working away.
It’s more private and much more reliable than home sharing. It’s cheaper and offers more space to relax than a hotel.
Corporate housing is typically close to business districts, so will often be more convenient too.
For staff, corporate housing offers a comfortable home or apartment with private space and all amenities. If the building or development has facilities, you can use those too.
For companies, corporate housing shows staff you value them by giving them more. It’s also hands-off, as Blu manages everything for you.
Finally, it’s cheaper than a hotel. Even though you get more, you pay less. In the current climate, that’s a genuine rarity!
So now we have set the scene, let’s get to those 5 reasons why corporate housing works for business.
We have touched upon them in the introduction but let’s cover them in more detail.
1. Cost savings
The most compelling reason for using corporate housing is the potential for cost savings.
Business travel costs money and with inflation like it is, any opportunity to save a little cash without compromising quality or amenities has to be a good thing.
Corporate housing can help with that.
On average, companies can save anywhere between 40-80% on accommodation costs when using corporate housing.
Much depends on the location and length of stay, but on average, you can save in excess of 50% on a comparable hotel for stays of 30 days or more if you use a corporate apartment.
All while providing more space, more privacy, more amenities and all the comforts of home.
Unfortunately, we can’t help with the cost of flights or car hire, but we can definitely save money on accommodation!
In fact, we may be able to help with car hire.
Many corporate rentals are in Downtown areas or financial districts. Close to work, close to stores and local amenities.
Potentially, your staff may not need to hire cars at all!
Another cost saving!
Typically, the longer the stay, the lower the rate. So, unlike hotels, you could actually be paying even less for staying longer.
How’s that for a great deal?
2. Location, location, location
As we alluded to a second ago, corporate housing tends to be in Downtown areas or financial or business districts.
That means no driving or getting the bus from an airport hotel or having to travel from sketchy areas with motel rows.
You can drive if you want, but it’s an option and not a necessity. That’s a minor but often important distinction.
If you’re in the military, work at a university or hospital, you’ll find corporate rentals close to those too.
Blu Corporate Housing has furnished rentals close to the largest military bases in the country. We also have housing close to many leading universities and large medical centers too.
With around 50,000 rentals in over 5,000 cities in the continental United States, Blu has access to almost every city in the country.
They will be close to the office, the hospital, the university, the building site, the oil field, the training center or the military base.
As corporate housing tends to be standard apartments or homes converted for business use, they can literally be anywhere.
3. All the comforts of home
The phrase ‘home from home’ is well-worn and somewhat overused, but is perfectly apt for describing corporate housing.
Long term rentals are outfitted just like your home and to a similar quality.
They will include high quality furniture, all appliances, soft furnishings, bedding, cookware, cutlery, crockery and everything your staff need to begin living right away.
All your team will need to bring with them are clothes and any personal items they cannot live without.
Even if staff share an apartment, they get to use all of it.
They will have their own private bedroom and free rein over the lounge, kitchen, diner, bathroom and any other spaces.
Need to do the laundry? No need to pay someone to do it unless you want to. There will usually be laundry amenities within the property.
Wash your clothes and live there as you would live at home.
From our own business travel experience, we find it much easier to relax and unwind in our own space than in a hotel room.
It’s quieter, there’s a better feeling of privacy and security and there’s usually a lot less noise from neighboring rooms and the hallway!
Need to work from home? That’s tough in a hotel room. Even the largest rooms or suites are hardly restful places.
Rent a corporate apartment and you have the entire space as your own. Spread out, put on some music or do whatever it is you need to do to work.
Finally, if you drive to the location, you’ll likely have a driveway or private parking.
Anyone who has used hotel parking will know how common it is to end up with mystery scratches or dents in their car.
It’s another small thing, but they are definitely mounting up!
4. Staff satisfaction
Staff retention is becoming tougher as shortages of skilled staff continue to bite. You could throw money at the problem, but that’s not always enough of a motivation to stay.
Showing staff you value them can be a considerable motivator.
Corporate housing can help with that.
If you don’t have the travel budget for 4 or 5 star hotel, you can give staff much more with corporate housing.
It offers frictionless travel for staff and delivers more space, more amenities and more satisfaction while they are there.
Your team couldn’t fail to be impressed if you rent them a penthouse or high end apartment in the center of a city instead of the same old chain hotels.
They get more space and a better experience while you save money at the same time.
While we all have bills to pay, making your people feel valued is one of the strongest staff retention techniques there is.
5. Customer service
If you have ever rented privately, you know it can be a bit of an epic journey. Lots of paperwork, credit checks, huge deposits and regular inspections by the agent.
There is less hassle with a hotel but there’s still plenty of paperwork to handle.
That’s not the case with Blu and our corporate housing. You get a dedicated account specialist who will be your single point of contact for everything.
Our team are here to help with anything.
We can find your accommodation, shortlist a bunch of options and liaise with landlord to book and manage the rental.
We are also here if anything goes wrong or if you need extra services. A pipe burst? We’ll manage the repair. Need grocery deliveries or housekeeping? We’ll book and manage it.
We are here to help with every step of the way.
From finding viable options in out of the way places, recommending rentals close to military bases or offices and helping arrange cable or internet while your people are there.
It’s all part of the service!
If you’re involved with business travel and want to change it up, corporate housing can help.
It offers more, for less and you’ll have less work on your hands managing it too.
It isn’t often a solution is a genuine win win without a downside, but this is one of those times!