Has Corporate Housing Taken Over Serviced Apartments for Corporate Travelers?

In the ever-evolving landscape of corporate travel, accommodations play a crucial role in ensuring the comfort, convenience, and productivity of business travelers. Traditionally, serviced apartments have been the go-to choice for many corporations seeking temporary housing solutions for their employees. However, in recent years, corporate housing has emerged as a formidable contender, offering a range of benefits that are reshaping the way companies approach accommodations for their travelling workforce. In this article, we delve into the question: Has corporate housing taken over serviced apartments for corporate travellers?

Understanding the Difference

Before delving into the comparison between corporate housing and serviced apartments, it's important to understand the distinction between the two. Serviced apartments, also known as extended-stay hotels, offer fully furnished units equipped with amenities such as housekeeping, concierge services, and recreational facilities. They are designed to provide a home away from home experience for travellers, typically for stays ranging from a few days to several months.

On the other hand, corporate housing refers to fully furnished residential properties that are leased or rented out on a temporary basis, often for extended periods of 30 days or more. These properties are typically located in residential neighbourhoods and offer a higher level of privacy, space, and flexibility compared to traditional hotels or serviced apartments.

The Rise of Corporate Housing

In recent years, corporate housing has witnessed a surge in popularity among corporate travellers, thanks to several key factors that set it apart from traditional serviced apartments.

1. Space and Comfort

One of the primary advantages of corporate housing is the ample space and comfort it provides. Unlike serviced apartments, which are often limited in size and layout, corporate housing offers spacious accommodations with separate living, dining, and sleeping areas. This extra space allows travellers to spread out, relax, and even entertain guests, creating a more homelike atmosphere during their stay.

2. Flexibility and Customization

Corporate housing offers greater flexibility and customization options compared to serviced apartments. Companies can choose from a wide range of properties to suit the specific needs and preferences of their employees, whether it's a luxury condominium in the city centre or a suburban townhouse with a backyard. Additionally, corporate housing providers often offer flexible lease terms and customized packages tailored to the unique requirements of each client, allowing companies to optimize their accommodation budgets and maximize value.

3. Cost-Effectiveness

While serviced apartments may seem more affordable on the surface, especially for short-term stays, corporate housing often proves to be more cost-effective in the long run. With lower nightly rates, no hidden fees, and the ability to negotiate favourable lease terms, corporate housing offers excellent value for companies looking to reduce their travel expenses without compromising on quality or comfort.

4. Privacy and Security

Privacy and security are paramount considerations for corporate travellers, particularly those on extended assignments or relocation. Corporate housing offers a higher level of privacy and security compared to serviced apartments, with properties located in residential neighbourhoods or gated communities equipped with secure access systems and 24/7 surveillance. This enhanced sense of safety and privacy allows travellers to focus on their work and rest assured that their belongings are secure while they're away from home.

5. Local Experience and Integration

One of the often overlooked benefits of corporate housing is its ability to provide travellers with an authentic local experience and seamless integration into the community. Unlike serviced apartments, which are typically located in touristy areas or commercial districts, corporate housing properties are often situated in residential neighbourhoods, allowing travellers to immerse themselves in the local culture, cuisine, and lifestyle. This not only enhances the overall travel experience but also fosters a sense of belonging and connection to the destination.

Conclusion

While serviced apartments have long been the preferred choice for corporate travellers, corporate housing is quickly gaining traction as a viable alternative that offers superior space, flexibility, cost-effectiveness, privacy, and local integration. With its myriad benefits and customizable options, corporate housing is reshaping the corporate travel landscape and redefining the standards for temporary accommodations. As companies continue to prioritize the well-being and satisfaction of their travelling workforce, it's clear that corporate housing is here to stay and may indeed have taken over as the preferred choice for corporate travellers.