Corporate Housing vs. Extended Stay Hotels [Updated 2021]
The Benefits of Corporate Housing vs. Extended Stay Hotels in 2021
In 2021 the complexities of business and travel have increased tenfold, in large part because of considerations regarding the coronavirus. What hasn't changed is today’s fast-past, highly competitive business environment, and corporate executives face the ever-increasing challenge of staying connected with key stakeholders, whether they’re clients, prospects, or employees. Though Covid-19 has altered the dynamics of in-person proximity meetings from day-to-day, the necessity of face-to-face interaction hasn't diminished. Many meetings are able to be facilitated through Facetime, apps, Zoom meetings, and cloud software like Microsoft Teams, but when the necessity of travel is a part of the equation, business travelers must weigh the safest and best options for temporary housing. With that in mind let's take a look at the benefits of corporate housing versus extended stay hotels, especially in 2021.
The Challenges of Extended Stay Hotels
In 2021, managers and executives that are required to travel extensively between international, national, and/or regional offices require spacious and comfortable housing. Why? Because temporary housing has taken on an expanded meaning, often serving as both the living quarters and the office space or headquarters from which business will be conducted day-to-day. Additionally, these living accommodations require meticulous preparation and service with Covid-19 safety protocols to engender trust for the traveler and productivity for the company. Though there is a shift from how the long days are spent e.g. online versus in-person, executives are still required to monitor operations, meet with customers, encourage staff, and brainstorm with other executives (among many other tasks), and the claustrophobia of extended stay hotels can be overwhelming. Hotels and extended-stay suites tend to be cramped and require additional expenses such as eating out, laundry services, and often excessive phone and internet fees; not to mention taxes--all of which can compromise the travelers health. Thus, a place to call home and one that “feels” like a home, even temporarily, is critical.
The Difference Corporate Housing Can Make
In contrast, corporate housing is spacious, with multiple meeting areas, as well as separate spaces for eating, working, meeting, and sleeping. The extra room gives your people the room they need to set up computers, organize files, have private meetings, and live a more ordinary life while away from home. There's even opportunity for mental health breaks, with many corporate apartment complexes or condominiums providing chlorinated pools, meticulously cleaned fitness centers, and thoughtful accommodations addressing special needs or concerns with a simple phone call. Corporate Housing is also centrally located, and with providers like St. Louis Corporate Housing, you can expect fully stocked kitchens and Covid-19 safe concierge services. If executives will be traveling to a single location for months on end corporate apartments also provide the room needed for families to stay united. You can even bring your pets! Unlike traditional landlord type arrangements, corporate housing management understands business. They are aware of the many unique needs of the corporate traveler and are willing to go the extra mile to keep their tenants satisfied. Management handles all of the monthly bills, arranges for the set-up of any required services, and is on site to address any issues that may arise. Cost Comparison Extended stay hotels and suites can be very costly. They are required to charge taxes and often have additional service fees which are not quoted on the front end. In contrast, Corporate Housing is leased meaning everything is in writing. There are no required taxes after a certain length of stay and the rates quoted with a furnished rental are typically all-inclusive. Reputable corporate housing companies will provide you with a list of what is included and often with a price for outside services such as dry cleaning. If your business requires extended stay travel for it’s executive staff, corporate housing is a viable and economical option. It has significant advantages over traditional long term hotel arrangements and provides the possibility of keeping families together in a home like setting during temporary assignments. For executive travel to anywhere in the St. Louis region or Southern Illinois, St. Louis Corporate Housing can provide furnished apartments for any stay exceeding one month. Get Started