As we have all been dealing with the challenges of the slower Winter market and the lack of certainty around the Presidential election, we have noticed another trend for a corporate housing provider: security and transparency. Increasingly, beginning with our larger corporate clients, but now seeping into mid-caps and smaller firms the knowledge of who is where and at what time is becoming a critical issue for accommodation providers globally.
Working with companies like ISOS has become a regular requirement for standard RFPs for major institutions and a deal-breaker, particularly within the financial industry. Given the violence we are seeing in EMEA and elsewhere, it behooves you furnished housing company to get ahead of this trend, or someone else ahead of the trend will win this business away from you. At a minimum, a corporate housing provider needs to be able to provide detailed reporting at a moment’s notice. Even the smallest regional providers are going to find this detail as a regular requirement within RFPs and MSAs.
Safety will remain and become a more important criterion in winning and keeping clients, international and domestic. Get ahead of the trend now and prepare your company to respond to this increasingly important client needs. The major players in our industry are already focusing on this issue on a client-directed basis. We all need to catch up and recognize how our industry is changing.