A trade body representing the Airbnb-style short lets sector says this kind of accommodation now has a five per cent market share of the corporate business travel market.
And the niche is growing according to the body, the Short Term Accommodation Association, which says its members have seen a 25 per cent rise in business travel bookings since the end of pandemic restrictions.
The STAA says different bodies of research suggest the business sector is worth cultivating for Airbnb and other short let providers.
The research shows that business travel is predicted to increase by 38 per cent this year, while 43 per cent of employees are taking longer multi-purpose business trips, and that across Europe short-term rentals are the fastest growing segment in accommodation and forecast to account for 18 per cent of the European accommodation market by the end of 2022.
Merilee Karr, chair of the STAA, says: “There is a lucrative opportunity for the short-term rental industry to grow its footprint in the business travel market. Business travellers now have a greater say in where they stay and many of them have recognised the benefits that staying in apartments or homes can offer, especially for multi-night visits. Anyone operating in this sector should really make a concerted effort to appeal to corporate travel bookers who are definitely on the look-out for alternatives to the more conventional choices.
“Through the STAA, the industry has been working with accreditation organisation Quality in Tourism to set minimum operating standards in safety, cleanliness and compliance with legislation, to meet consumer expectations and the duty of care requirements needed to be included in companies’ travel programmes. In essence, we have ticked all the boxes to help increase the adoption of our sector in corporate business travel programmes.
“And it is about to become much easier for business travellers and their companies to access and book short-term rentals. That’s because the STAA has brought together more than 50 professionally-managed short term rentals operators onto one platform, TrustedStays. The quality accreditation and standards of all the companies on TrustedStays ensures that companies booking accommodation can meet their duty of care requirements, while offering a wider range of options to guests.”