BridgeStreet Releases Official Report on the Business Travel Industry
Findings include: quality accommodations and work-life balance are a decision point for new employees
BridgeStreet released today its Business Travel Industry Report outlining the results of BridgeStreet’s survey of business travelers’ accommodation preferences. The report highlights how important business travel policies are attracting and retaining employees and enhancing their productivity and success. The report also points to changes in traveler preferences and growing interest in alternate accommodation choices as extended travel grows.
Highlights from the report include:
88% of respondents said that they look forward to business travel more when they can choose the accommodation style they want.
62% said that they like to maintain control over their bookings.
84% of respondents said that they are more inclined to comply with corporate travel policies if they are provided a broader range of accommodation options.
A majority of respondents said that they are open to trying alternate accommodations and many indicated that location choices were being driven not only by proximity to work, but also by the nature of the travel experience.
The results of the survey bode well for travel managers who continue to drive improvements in travel choices and implement new tools to make travel management easier for their companies and employees. It also supports the growing alternate accommodation industry because travelers are now keenly aware of the choices available outside of traditional and extended- stay hotels --- choices like serviced apartments, fully furnished homes, design-inspired hostels, co-living arrangements, and resort/holiday/ vacation homes.
Click here to download the full report.