AltoVita’s latest industry report takes an in-depth look at how the pandemic affected the flexible rentals market, the trends that have shaped 2021, and the forecast of what’s to come.
Key findings include:
- 68% of respondents are seeing an increased demand for extended stays and 59% are seeing a demand for large spaces
- 89% of respondents have invested in new technology over the past year
- 74% of respondents think a monthly lease structure will best support ‘working from anywhere’
- And more!
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Larger space and modular designs will set the stage for the future of modern hospitality which is seeing even longer extended stays. Flexible rental assets are well poised to capture this demand, particularly when coupled with traveller-friendly cancellation and extension policies. Behind the scene, a more open technology environment with integrated information security systems will become the norm for delivering data in the ever growing connected ecosystem
– Vivi (Cahyadi) Himmel, AltoVita Co-Founder & CEO
The Flexible Rentals Market Survey reveals that optimism is at its highest since the Covid-19 outbreak. The resilience of STR and serviced apartments was driven by enhanced quality standards, increased flexibility in business models, and strategic revenue stream diversification. Hospitality workforce recovery and opportunistic expansion efforts are one of many indicators validating the recovery.
– Karolina Saviova, AltoVita Co-Founder & COO
