The Corporate Housing Network Blog

Corporate Housing Benefits from Increased Demand Domestically and Overseas

Posted on 09. Nov, 2009 by Kat Schneider Fotheringham in Blog, Business Travel

Last week, I touched upon the how predictions of business travel will positively impact the Members of The Corporate Housing Network.  When sharing with you the results of one revered travel management company’s findings, I focused primarily on domestic business travel. Today I’d like to share the expectations for European countries as well.

According to Egencia – which is the business travel arm of Expedia, their 2010 Corporate Travel Forecast indicates that companies WILL reinvest in meetings and conferences next year; clearly, this is positive news. Primarily, pharmaceutical and financial sectors are at the top of the list… and many business destinations in Europe are forecasted to see increased demand (i.e. Madrid, London, Berlin, Brussels, and Paris).

Additionally, although travel is expected to increase, many hotels are being forced to agree to reduce their rates for corporate contracts through 2010. As corporate housing providers, we all can relate to the angst that surfaces when your client wants “to talk” about reducing your already-negotiated rates. 
Have you come across this recently?

Regardless, all in all, this is optimistic news both home and abroad.  Fortunately, according to a recent focus group, our Members of The Corporate Housing Network have
seen a significant decrease in their vacancies since listing their properties on TCHNetwork.com. Things will only go up (err… down, when referring to vacancies!) from here.

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