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Monday 10 August, 2020
TOP STORY
ENGAGE webinar: The death of alternative accommodation?
In the latest ENGAGE webinar for corporate travel buyers ahead of November's first-ever Urban Living Festival, the panel discussed whether the term 'alternative accommodation' is still relevant, as a result of the Covid-19 pandemic.
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Editor's comment
10•08•20 Welcome to the latest ShortTermRentalz newsletter!
• The term 'alternative accommodation' may be commonplace in the hospitality space to denote emerging asset classes such as short-term rentals but, as some rental operators stayed open during the pandemic as opposed to traditional hotels, one wonders if the term can now be seen as obsolete.
In the latest session of the ENGAGE webinar series, which brings together corporate travel buyers and industry leaders to look to the future and challenge the status quo with their peers, the panel addressed what the best accommodation option would be to suit travellers' needs post-Covid, out of hotels, serviced apartments, co-living / build-to-rent and short-term rentals.
On the topic of whether 'alternative accommodation' is still relevant in the current climate, AltoVita's Vivi Cahyadi and CAP Worldwide's Jo Layton concurred that the concept was not 'dead' but that it required an industry body to promote corporate housing and emerging asset classes as being able to provide the necessary security safeguards to reassure travellers. This will be vital in secondary and tertiary urban locations, where families will seek to relocate or workers will move to participate in short business projects.
Meanwhile, shifts in corporate traveller trends look set to drive people away from booking simply 'cheap' accommodation as their sense of standards becomes more heightened. This point was echoed by Anglo Educational's Steve Lowy, who said the issue of trust would be more important than ever, and the implementation of accreditation systems, such as SAFFAA, will establish greater accountability.
Looking ahead, judging by the consensus of the panel, the accommodation sector will start to see more consolidation with fewer lodging choices available. Those who succeed in the 'new normal' are likely to be those who can capitalise on this gap in demand and deliver a consistent quality service.
Watch the recording of the latest ENGAGE webinar session here. For more information about the Urban Living Festival Stay • Live • Work, visit the link here.
• Don't forget to register for our next in our Urban Living webinar series, which takes place on Wednesday 12 August at 14:00 BST, when the panel will be discussing money v meaning [social purpose] and the role of ESG in the investment case mix. Adam Maclennan, managing director, head of UK and Ireland, PKF, hotelexperts, will be the guest host.
Joining Maclennan for the discussion will be:
• Richard Berridge, Blackbird Real Estate Advisory
• James Fry, founder, Beyond Aparthotels
• Leslie Gent, head of responsible investing, Coutts
• Josh Littman, VP Development - Europe, SH Hotels and Resorts
Click here to register for the no cost webinar.
If you have a story you want us to tell the industry, please click here and get involved with the community by joining our ShortTermRentalz LinkedIn group here.
Paul Stevens, editor
paul@internationalhospitality.media
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