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There is a “new normal” in corporate travel demand

by interimhomes on March 4, 2024
There is a “new normal” in corporate travel demand
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There is a “new normal” – and there is “no normal” in corporate travel demand. What global mobility professionals, human resources business partners and corporate travelers have come to recognize in this post-pandemic landscape is that flexibility with efficiency, cost controls and corporate culture are affecting change in travel policy, and one size does not fit all.

The broad adoption of hybrid and remote work models across almost all industry sectors has forced managers to more carefully qualify travel purpose, mode, costs and supplier options. Identifying best practice can mean connecting with peer professionals to assess and compare protocols and to ultimately create the global mobility and business travel programs that will support each enterprise’s values and unique objectives for growth, profitability and employee engagement.

Travel demand then has morphed into an erratic sequence of weekly, monthly, quarterly, semi-annual initiations – depending on the ebb and flow of client business cycles and corporate talent attraction and attrition. Human Resource Business Partners must be acutely aware of the requirements of their internal clients – anticipating recruitment, on-boarding, training and project assignments or relocations and working closely with travel management partners, to facilitate solutions to service the immediate or projected need. Next is the expectation to convert that talent pipeline to satisfy gaps in workforce that may adversely affect productivity and outcomes. What was once a more seasonal, predictable series of action and reaction has become a truly delicate dance of balance, creativity and flexibility.

More travel projected in 2024

Business Travel News (BTN) recently reported that Accor Chairman & CEO, Sebastien Bazin, retracted his 2022 projection that corporate travel would lose 25% of its volume, permanently, due to the adoption of robust virtual and remote work solutions. What he is now forecasting is an 8% growth in 2024, with a different blend of travel: more regional, smaller group and hybrid – live and virtual – engagements.

Supporting this premise, the Global Business Travel Association has indicated that nearly 60% of travel buyers they surveyed expect more travel in 2024,but not without the challenges of rising travel costs, global economic uncertainties, diminished corporate budgets and climate-related and geopolitical travel disruptions. almost half of travel buyers say the adoption of remote and hybrid workplace models has prompted them to revamp their employee travel policies and programs.

A recent Harvard Analytic Review Services study, conducted with American Express Global Business Travel (AmexGBT), reflected that more than half the 400 respondents they polled felt that business travel was key to ensuring successful collaborative workgroups, employee development and resultant client satisfaction.

So what is the travel professional to do with this ever-evolving travel terra? How can the demands of the business, impacted by such uncertainty, be best served – while supporting a workforce that is here, there, and everywhere?

Most agree that the most effective approach begins with a more flexible, but no less strategic, travel program framework.

Ensuring Duty of Care – with a cost-management focus, is the value of temporary furnished housing solutions

Temporary furnished housing featured in strategic travel programs

Goldspring Consulting’s Travel Program Strategy has outlined six significant aspects of any well-developed Travel Program to include 3 C’s and 3 E’s: Cost Controls, Compliance, Care (Duty of) – and Efficiency, ESG and Employee Experience.

In today’s Waypoints Newsletter, we address the 3 C’s. Please look for a review of the 3 E’s in our next edition!

  1. Cost Controls – Unlike hotel inventory, which is priced via yield management software and will fluctuate daily – a temporary furnished housing solution is based on a static daily or nightly rate. This affords the travel manager or project manager the ability to estimate costs and retain control of spend. The ability then to forecast this aspect of any initiative ensures margins are protected and corporate objectives for profitability may be supported.
  2. Compliance– With established business rules to guide accommodation options, locations, amenities and pricing, the temporary housing provider helps its clients ensure travelers follow a consistent process that will allow reporting to meet various business objectives.
  3. Duty of Care – Curated temporary furnished housing solutions ensure that the traveler may rely on a consistent experience that meets requirements for convenience, comfort and incorporates a measure of safety because the provider is a recognized partner with established standards of service. This is risk management practice that cannot be overlooked.

What trends are you noting in your markets? Our Interim Homes team is curious to know so please reach out to share your feedback, insights and recommendations for further topics of discussion!

[email protected] 1-877-240-0703

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Suezy Q.
We had an excellent 30-day stay at Cadence. This was our second time using Interim Homes. Rental unit was in a great location. Close to stores, shops and interstate highways. Lovely apartment, it was in excellent condition and had everything needed for a home away from home vibe. Thank you Christiana and Interim Homes for your awesome customer service.
Merril R.
A nice property that was clean and well maintained in a good location
Carly H.
Interim homes is wonderful. They are very responsive and I had a great stay. Everything was as expected and any questions were addressed right away.
Andrew R.
Christiana with Interim Homes is a true professional. We needed to set up a 6 week apartment stay in a hurry. Christiana was same-day responsive at all times, provided good choices, and arranged for us to physically visit an apartment within hours. Many corporate stay groups will not arrange an actual advance site visit- but Christiana and Interim Homes made that happen with no muss or fuss. Being able to see the apartment makes a big difference. These folks were super helpful.
Margaret H.
I rented an apartment for 2 weeks through Interim Homes. My cousin was having complex surgery at Johns Hopkins, so we wanted a "home" for 2 weeks. The apartment was perfect. There was a couple of small issues that Interim Homes addressed and resolved promptly. They were so responsive, which we appreciated so much. I can't thank them enough and highly recommend them.
Tom W.
A beautiful apartment in an outstanding building. Gorgeous views, amazing common areas and amenities, great staff at Liberty and Interim Homes, a wonderful experience
Manuela H.
Great customer service and apartments.
Victoria O.
My Interim Homes experience has been amazing. Christiana is a true treasure; she and the other representatives have gone above and beyond to ensure my stay is safe and very comfortable. Thank you, Interim Homes Team!
Justine Margaret D.
I just signed my lease with Interim Housing! Christiana Bukari has been incredibly helpful throughout this apartment search process. She was very quick to respond to all of my questions with kindness and abundant knowledge about the units. I cannot say enough good things about her, she is the reason I choose Interim! Very excited to move into my unit.
Mariya I.
Stayed at Aura Pentagon City, which is centrally located and within walking distance to Pentagon City Mall, the metro station, and the Pentagon itself. Whole Foods, Costco, Starbucks and great restaurants ranging from Latin food to South Asian cuisine, all within minutes. This property is dog-friendly so if you don't like pets, do not consider this! Elevators and hallway carpets have pet fur all over the place which sometimes seeps into the apartment with your feet. Great for long distance walking. The apartment is modern with appliances, comfortable couches and bed, and carpeted bedroom. The single apartment is quite spacious but balcony is tiny. Interim Housing staff is professional and very quick to respond to inquiries and concerns. Appreciated their assistance and kindness during my two-month stay!
Loretta W.
Interim Homes stay at Avalon 555 property was perfect for me and my Family. The 3 bedroom, 2 bath unit was spacious, well furnished with all amenities... the floor to ceiling window views of bustling Baltimore Harbor East area were amazing. Roof top infinity pool and 24 hour concierge... over the top. Interim staff Christiana, Chris, Athena in Accounting and especially Julia in Guest Services made our approval, check-in and extension seamless. This was truly an interim home as my Mother and I awaiting closing of our new home in the Baltimore area, while my Aunt received treatments and care at Johns Hopkins. This really avoided my Aunt and Uncle traveling back and forth from Wilmington DE over a three week period and staying in hotels during this trying time. Kudos to you Interim Homes!!!!
Sarah R.
I had the pleasure of staying in a fully furnished one bedroom apartment in Andover House in the DuPont Circle neighborhood of Washington, DC during the summer of 2018, and the good people of Interim Homes could not have been more helpful. From my first call speaking to a customer service rep who provided me a quote to my seamless arrival, which included complimentary coffee, sugar and creamers and a few snacks (so thoughtful and much appreciated after an eleven-hundred mile drive), every step of the process was easy and convenient. I also ended up needing to extend my stay unexpectedly by one week and Interim Homes was flexible and accommodating. Thank you to Shannon and staff! You are in good hands for your temporary housing needs with Interim Homes.
Suzanne C.
The team at Interim Homes is terrific. They found the perfect place for me to stay while on assignment in the Greater Washington area. On the day I arrived a professional from the team was onsite to greet me, educate me on the facilitity and to make sure everything met my satisfaction. Over the six months I utilized Interim Homes, they responded quickly to my questions and always made me feel like a valued customer.

Suzanne Sutter
Interim CEO
Make-A-Wish Mid-Atlantic
Our promise is to deliver seamless customized housing solutions that are specific to your needs with prompt, personal, and professional service.

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