With rates for temporary accommodations growing steadily each year over the last decade, we are seeing greater competition in the accommodations space, with new private and public accommodation options vying for their share of the relocation pie each quarter.
Whether the relocation industry has embraced it or not, the sharing economy is asserting itself as an attractive supply source for business travelers. In less than a decade Uber has become the largest transportation company globally. Under that same time period, Airbnb has evolved into the world’s largest accommodations provider. With a sharing economy estimated to exceed $335 billion USD by 2025 by PWC, we can expect to see greater pressure on organizations to source services outside of traditional channels, including in the relocation industry.