Services provided by the sharing economy have increased adoption rates for shared transportation during business trips. But according to a new survey from Chrome River, the adoption rate for shared accommodation hasn’t reached the same levels.
Instead of using Airbnb, HomeAway, or VRBO, business travelers are still opting to stay in hotels for their accommodations. Furthermore, the survey reveals more than half or 54% of the businesses surveyed don’t have any plans to adopt these services as part of their travel and expense policies.
For small businesses providing accommodations through these sites, there is a great opportunity to tap into a huge market. The Global Business Travel Association reported spending in the segment reached $1.3 trillion in 2017, with US business spending accounting for $292.2 billion of the total.
Small businesses currently not using this type of accommodation for their employees when they are traveling, it may find this worth considering. This is especially important when there are popular conferences across the country with tens of thousands of attendees flooding a city.
For companies looking to see what is available in terms of accommodations for their business travelers, here is a more complete picture. In a press release, Alan Rich, co-founder, and CEO of Chrome River, explains:
“Organizations want to see the full travel picture — not just the data from their booking tool. By integrating sharing-economy services into their formal travel policy, they achieve a new level of visibility.”
Businesses need to improve the total travel experience for their teams by offering more choices including mobile tools for planning their travel and submitting expenses, Rich adds.