Video: How Bridgestreet is Reimagining Extended Stay for the Era of the Sharing Economy
Skift Take
Demand for extended stay and alternative accommodation options is on the rise in the business travel sector. But according to Bridgestreet CEO & President Sean Worker, not all extended stay inventory is created equal.
Demand for extended stay housing, defined as visits of longer than seven nights, continues to grow. According to the Wall Street Journal, the extended stay sector’s revenue has enjoyed consistent year-over-year growth over the past five years, rising by 13 percent in 2017 to $3.62 billion. Meanwhile, shifting business traveler habits and a growing receptiveness to sharing economy products are making the sector increasingly attractive and visible to the corporate travel managers who oversee business travel policy decisions. As noted by the Global Business Travel Association (GBTA), 30 percent of businesses now permit employees to use some form of alternative
