US: BridgeStreet Global Hospitality has revealed the findings of its IQ Report in to business travel habits.
The company polled guests from 70 countries about emerging
trends in business travel.
BridgeStreet's vice president of marketing Kelly Murphy said: "We survey over 30,000 guests on a routine basis to ensure that we keep a constant pulse on the trends and needs of our customers.
Nearly half of respondents indicated employees themselves are responsible for their own business travel planning, with corporate travel policies loosening to allow freedom in decision-making within certain parameters.
With 64 per cent of travel policies allowing use of online travel agents, like Expedia and Booking.com, digital engagement is more important than ever for accommodations providers to remain competitive.
Nearly 75 per cent of travel policies include serviced apartments as an approved option, with 44 per cent recommending serviced apartments for stays ranging between one and four nights, rising to 75 per cent for stays lasting 1 - 13 days. Mirroring the serviced apartment sector's growth over the past five years, serviced apartments are rising in popularity as a preferred choice for business travellers, outpacing typical hotel accommodations.
The most influential driver for traveler decision-making is location, with consistent customer experience and convenient locations as the top loyalty influencers for specific brands. With business travellers gaining more independence in decision-making, serviced apartments match guests' desire for self service, comfortable accommodations, while also providing flexibility with convenient locations, a variety of floorplans, full kitchens and an array of amenities customised to the desired experience.