I have been in the temporary apartment business for 36 years. I started with Oakwood in 1980. 17 of my 30 years with them serving as SVP and general manager of all worldwide regions, except APAC. Now president and CEO of Nomad, which I started in 2010. Through luck and some arm twisting, brought on my business partners Heather James, and Karl Thuge shortly after opening. They have been the catalyst for our success.
Nomad started as an idea – to provide superior choice through a model with numerous well-vetted brands in each market. Then to deliver these apartments in an unbiased fashion, with Nomad’s “one point of contact” through the entire stay. Other tech options let go of the relationship after booking. Our clients benefit from only dealing with us through the entire stay and client relationship, versus being handed off to one of our 700 brands that supply the apartments worldwide. I vetted the idea during a national road trip visiting key industry decision makers and presented the business plan in almost twenty different meetings. Based on their incredible feedback and additional ideas, we put our life savings in the corporate bank account and never looked back.
Today, we have our home office in the USA, plus regional offices in Canada, England and Hong Kong. We serve hundreds of corporate clients and dozens of relocation management clients. We are ranked #1 in all categories of the Relocation Managers Survey conducted by Trippel Research & Survey LLC, for both 2016 and 2015. Nomad was also honored to receive the Corporate Housing Company of the Year award by FEM in 2016.
• What are the biggest challenges for the company in today’s market place?
Having Operations keep up with Sales. We are growing at a very fast clip. Service delivery and quality control with so many partners were thought to be a hurdle when we started by some. However, our certified partners excelled. They realize our quality control and delivery requirements benefit us all. Perfect apartments on arrival usually equal highly satisfied guests and clients.
• What impact is Airbnb and its enhanced business travel offer having on the temporary accommodation sector?
Directly for our brand, we have seen little impact. Nomad does little marketing to the retail sector, we have focused on corporate clients and relocation management company clients. These clients prefer the stability and trusted practices we deliver versus the Airbnb Host. That is not to say Airbnb will not evolve and gain momentum in full-service temporary apartments, we expect them to.
• Are there any particular geographical regions you see as key growth spots, and which areas are tougher?
Silicon Valley remains the hottest market in the world for temporary apartments, we expect this to continue. Demand is strong and steady for most other key regions. The oil and gas industry slump has caused lower demand in Western Canada, and parts of the USA. Some cities in China are seeing lower demand.
• How has the Nomad app been received by your clients, and what are its usage levels like?
Our Nomad App has been a hit with clients. They report its ease of use and features are impressive. We expect to add more and more features over time. We have just finished the product and are readying our marketing campaign for it. Ask me in a year about usage.
• What do you think will be the biggest changes affecting Nomad, and the wider industry, over the next five years?
For Nomad, our biggest change has, and will continue to be our growth curve. We continue to bring on exceptional team members around the world. We continue to improve our technology to deliver our unique model. This must accelerate for us to sustain our industry leading status on service delivery. We never stand still.</p
