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In 2015 millennials became the largest generation to enter the American workforce, this event disrupted several traditional business models by having a ripple effect on the way conglomerate businesses approached corporate housing.
The hospitality industry was heavily impacted by this globetrotter generation; characterized for their strong sense of wanderlust. Regardless of their travel purpose, millennials will search far and wide for companies that offer them unique experiences. Immersing themselves in a culture, staying in picturesque neighborhoods, and having one of a kind boutique and restaurants are only some of the many factors that impact millennials’ decisions on choosing the best accommodations.
As a result, the corporate housing industry is kept on its toes to keep up with the times, but most importantly, the trendsetters. Here are a few things to keep in mind to make sure you stray away from the old and ensure your company is all about the new.
Go Green or Go Home
With the recent uprise of environmental issues, social responsibility, and regulation changes it is no wonder that millennials are also known as the “Green Generation”. A study by The Shelton Group shows that millennials “are significantly more likely to support companies that they perceive to have strong environmental values”. Make sure your alternative accommodation facilities have recycling rooms, making strides towards becoming a “greener” company, and re-defining corporate social responsibilities to mirror the importance of environmental issues. This is more important now than ever.
For the past couple of years, millennials have been redefining environmentalism and with that come the “green movement” of the ages. If you want to make sure you are not skipping out on the largest market, you need to make your facilities so environmentally friendly gardens go green with envy.
Location Location Location
With great location comes great responsibility, while many can find comfort in familiar settings, millennials no longer look at cookie-cutter hotels as the ideal experience for travel. Unconventional experiences, unique designs, and communal social spaces are increasingly important in alternative accommodations.
It is no longer enough to have comfortable settings and house decorations for millennials to feel appeased with their corporate housing. Boutique feels and ready adventures are necessary to keep the attention of these thrill-seeking adventures. A recent article states that “A majority of millennials polled in the US and UK say that discovering hidden local places is more important to them than visiting major tourist attractions”.
All of these considerations include but it are not limited to cultural landmarks, multiple outdoor activities, and well-to-do shops and restaurants to ensure one of a kind experiences.
Your location needs more than just a beautiful backdrop, a city, a country, even a neighborhood to have a huge pull when it comes to reaching millennials. However, it is key for corporate housing to keep ahead of the game and look out for the ordinary characteristics in their future locations. All these is good and well but it is also important that exterior luxuries match interior living, and remember it is what is inside that counts.
A Home Away From Home
The rapid growth of technological tools in the hospitality world have made it trivial for travel and accommodation companies to provide exemplary booking sites. Dharma Home Suites concentrates on being more than just a platform, it is a service that ensures travelers feel excited and ready for their upcoming travels.
Finding the right accommodation is as important as choosing your next project, deciding your business’s next step, and rebranding a company to fit the bill of the audience. Online platforms can be lively, have great customer service, and have state of the art data analysis but if it is not communicating correctly with the audience it ends up being left behind.
The road to going from a platform to a service is easy; know your audience. Millennials have grown up with the best technology the world has to offer and in many cases are the ones actively working on making that same technology outdated by creating new apps, designs and data programs. So stay on top of your game, do not let dull platforms stop you from reaching your target market. Think about it this way, technology is another employee, if you take the time to motivate it, establish clear goals and know your audience, your options are limitless.
Dharma Home Suites knows why their upscale locations attract millennials. We provide an authentic home away from home experiences and we are constantly looking for ways to improve our services. Millennials being the largest generation to enter the workforce is only part of it, more and more now corporate housing is taking the lead when it comes to choosing accommodations and we know it is just the beginning.
Using green products (non-toxic and environmentally friendly) to clean our apartments, scoping out major metropolitan cities and their authentic neighborhoods, and having a strong online presence and partnerships are only some of the ways Dharma Home Suites ensures the best possible services are being provided.Therefore, keep up with the times, make your apartments more environmentally friendly, look for easy-to-guide attractions, and create engaging online platforms because hotels might be plenty, but there is no place like home.