Long-Term Transformation

Globalization, the digital revolution and shifting market demands are forging new pathways in corporate housing
“The evolution of overnight.” That’s what Matthew Hostetler, senior vice president of Red Roof, calls the changes on every front in the corporate lodging/extended stay market. In an attempt to keep up with those changes, the recent Serviced Apartment Summit in New York saw representatives of traditional corporate housing providers like Oakwood and Furnished Quarters, OTAs like Booking.com, startups like WhyHotels – which creates pop-up hotels in new luxury buildings – and homesharing companies like Airbnb working side by side to figure out where the industry goes next.

With the globalization of lodging and the ubiquitous presence of mega-players like Marriott, Hilton and Accor, there is still very much a bifurcated landscape when it comes to extended stay – with the tradition of serviced apartments continuing to dominate outside the US, while extended stay as it was invented and evolved here prevailing in this market.

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Categories: Special ReportLodging

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