• Transparency: One of the key benefits of using technology and platforms like Homelike is transparency. Users can see various accommodation options with details on pricing, amenities and location. • Seamless
transactions:
While the complexity of the rental process can vary by region, technology can be a potential solution to simplify and streamline these processes.
• Duty of care: Corporations have to balance cost pressures, security, regulatory compliance and location when approving accommodation requests. Technology can be used to ensure
that landlords
and properties meet corporate standards and hygiene protocols. • Budget
management:
Homelike provides real-time data on pricing and availability, allowing corporations to make informed decisions about when and how to book accommodation. • Transparency and driven
data- insights: Homelike
can help forecast availability and pricing trends and alert corporations to upcoming busy periods or how the market rate might vary in specific cities or locations.
• A wider choice accommodation:
of Co-living
spaces with shared bathrooms and kitchens can offer cost- effective alternatives for corporate travellers and are particularly appealing to young professionals.
• Customisation for corporate clients: Homelike can tailor its offerings for different corporate clients based on their specific requirements and standards. Alternatively, companies can choose to have a white-label solution that shows employees only the accommodation that aligns with company preferences and policies.
• Insights and recommendations: By analysing data from the first year of a corporate’s engagement, Homelike can suggest programme improvements, identify pain points and suggest cost-saving measures.
• Payment solutions: The platform provides a global payment solution with various payment options, including credit card payments.
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WHAT DOES THE FUTURE HOLD? Philipp says there is more demand than supply in the serviced apartment market, leading to price increases. However, this is expected to balance out over time as more supply becomes available as investors build new accommodation. In terms of growth, there are still
several global factors contributing to economic uncertainty, including the situation in Ukraine, developments in China and Taiwan, and the upcoming US election. While many industry observers
anticipate a significant comeback and high growth in the coming year in business travel, some big corporations, particularly in the digital and tech sector, have laid off employees, which has affected the need for new apartments. Despite
technological
advancements, Philipp believes that there will always be a need for relocation providers, especially for complex cases and when employees are going abroad for extended periods. “While technology can handle
many aspects of the rental process, the human touch and trust remain essential, especially for high-value, long-term rentals,” Philipp says. “People
often seek assurance
and support, particularly when committing to substantial expenses
and longer stays.” In the future, business travellers
and international assignees will benefit from the easy-to-use platform, choice and instant booking they crave, while corporate clients can maintain control, standards and embrace transparency. This will enable clients to compare costs – something which has been difficult to do previously. Whether the global mobility industry embraces or resists this innovation remains to be seen.
“ It’s not only Generation Z and Y who are used to booking hotels online and who expect certain standards. A lot of people are familiar with using technology and platforms to book and this now extends to business travel as well.”
PHILIPP MORAWIETZ, MANAGING DIRECTOR OF HOMELIKE
THINK GLOBAL PEOPLE SERVICED A C COMMODATION
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