Airbnb Isn't Replacing Serviced Apartments for Business Travel Yet
Skift Take
Airbnb may be raising the visibility of traditional serviced apartments in the business travel space. It remains to be seen whether homesharing represents an existential threat to established corporate housing providers.
Serviced apartment rentals are an often overlooked sector that has deep penetration among business travelers.
The Global Serviced Apartments Industry Report 2016/17 from The Apartment Service Worldwide shows that hotel companies dominate the space in terms of pure capacity, and adoption seems to be slipping compared to previous years.
"Overall, 88 percent of companies now use serviced apartments for one business reason or another," reads the report. "However in 2016, just 47.37 percent now report that their usage for business travel is increasing, compared to 54.9 percent for assignments and 30.43 percent for relocation. This does not suggest that interest is waning, but that mature corporate accommodation programmes now routinely include serviced apartments and that the sector is now more secure in its niche."
More than 70 percent of global serviced apartment inventory is now bookable online,
