What will 2015 bring to the forefront for the furnished apartment sector?
January is always an exciting month where everyone speculates and forecasts for the year ahead.
We believe the following topics are note-worthy in the corporate housing business as we plan for the year.
Technology
Have you witnessed children under ten use an iPad? Forget ten - under five? They seem to instinctively know - out of the womb - how to navigate tools better than most adults.
No matter what, technology will continue to permeate every level of our lives.
In the next 20 years every demographic will be reliant on technology as a fundamental lifestyle component (more then they currently are). Forget the Millennials, they are a seemingly exhausted topic - get ready for their successors.
Because of this, any furnished apartment provider will need to continually integrate the use of technology and it's advances into its lifestyle offerings, be it bluetooth sounds systems to in-suite ipads, the opportunities are endless.
We have been steadily introducing changes to our properties over the years, such as our secure RFID (Radio Frequency Identification) key-fob entry system and our 25 Mbps bandwidth internet speed and Shaw Go Wifi. In 2015 we will be seeing the introduction of advanced video surveillance systems, a new website with a portal interface for guests and clients, and more.
There is no doubt; Silicon Valley will continue to rule our lives into the foreseeable future. We must oblige.
Healthy Living
More than ever before people are concerned about health and wellness.
While Baby Boomers and Gen X make up a vast majority of the working population, health and wellness services and offerings will become ever increasingly important.
Preventative wellness programs are everywhere - from fitness to organic and local food.
Furnished apartment providers, such as us, would be wise to weave more of these service offerings into their strategies.
We delivered baskets from SPUD this holiday season to many of our beloved clients. (SPUD is a local, organic grocery supplier) The overwhelming response went something like this, "Thank you for bringing me something that isn't going to add to the ever increasing size of my waistband this season." Those of you who received them know what I am talking about.
Work/Life Balance
The point above flows seamlessly into this one. Although this phrase has been thrown around now for over a decade, and it may seem lack-luster, it is still relevant!
We think it is relevant. Here is why:
We just talked about how the majority of the work force is aging right? What happens when you age? Typically things start to droop, ahem, I mean not look like they did when we were 20, and not work as well either.
Have you ever had a major health challenge? What is the first thing you think of?
1. I wish I felt better.
2. Wow, life is too short to worry about ________ (money, that promotion, my hairline)
3. I need to do more, "insert verb of your heart's desire here"; traveling, spending time with my family, painting, etc.
This means that offering fun, interesting, unique and authentic activities for guests would ... be ... smart, right? Right!
We think so.
Bleisure Travel
This is really just a new, catchy phrase to replace work/life balance. The only difference is this term applies to travel. People want to enjoy themselves on their work trips. This also applies to extended-stay and long-term guests.
It seems that gone are the days where people hole themselves up in their suite consumed by work. They also want to get out and see the sights, experience the city.
Calgary has seen an influx in its culture appeal with more, diverse, restaurants, shops and arts than ever before. Now it is not only the Calgary Stampede that holds reign on the tourism sector of the city.
Differentiation
In an economy where there are more players and more options than ever before the natural way to compete is to differentiate.
In years to come the furnished apartment sector will likely see a spider web effect of brand identities as companies choose different strengths to focus on moving forward. From high tech hotels to uber mod chic hotels, companies will define themselves differently.
What we think is important to remember is this; today's trend is tomorrow's passé, so when investing in brand campaigns invest in areas that bolster your core strengths rather than going off on a tangent to fit in, or should I saw stand out.
While these 5 trends are only a few of the factors influencing guest service programs, we think they are worth looking at.
What do you foresee being the next trends driving the service offerings in the corporate housing sector? What would you like to see? Let us know on Facebook or Twitter.
Sincerely,
Your Team at ExecSuite
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