Report outlines growth of corporate housing market

Eloise Hanson Eloise Hanson Uploaded 23 September 2021

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US: SpendEdge, a procurement market intelligence company, has published its latest report on temporary corporate housing sourcing and procurement.

According to SpendEdge, the temporary corporate Housing market will register an incremental spend of about USD$1.36 billion, and grow at a compound annual growth rate (CAGR) of 4.44 per cent during a five-year forecast period.

Key highlights offered in the report include:

• Information on how to identify strategic and tactical negotiation levels to help achieve the best prices

• Information on relevant pricing levels, with detailed explanation on pros and cons of prevalent pricing models

• Methods to help engage with the right suppliers and discover KPI's to evaluate incumbent suppliers

The main drivers and trends fuelling market growth are also mentioned. For example, pressure from substitutes and a moderate level of threat from new entrants has resulted in the low bargaining power of suppliers.

Specifically, the report touches on identifying opportunities and the total cost of ownership; the expected changes in price forecast and the factors driving current and future price changes; as well as the pricing models that offer the most rewarding opportunities.

It is also stated that price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of between five and eight per cent.

Some of the corporate housing suppliers referred to in the report include Marriott International, Hilton Worldwide, and Accor SA.

To download the SpendEdge full report, click here.

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