The business of corporate housing: As easy as booking a hotel

Corporate housing is revolutionizing the world of business travel. While hotel used to be the simplest and most convenient option for employees on temporary business trips, today's offerings for such occasions have become much larger and more personalized. Companies are looking to attract and retain talent, and want their employees to feel at home while traveling professionally. Apartool, a Spanish company with more than 120,000 apartments in over 85 countries, is making its service the "hotelization" of corporate housing in the digital age. They entered the Portuguese market during the pandemic and aim to become a leader in the industry. Their founder and CEO Marc Vilar talks about this in an interview for''Idealista/News.

"Corporate housing is a new form of temporary rental accommodation for companies, corporate travel agencies and '\'relocation'\' agencies that relocate their teams for professional reasons, whether it's the need to take 28 professionals from a Spanish infrastructure and renewable energy company who traveled to France for 90 days to maintain a nuclear power plant; or the CEO of a Portuguese company who traveled to Palma de Mallorca for eight months to manage a project in it Apartool is committed to providing professional management of the whole process, from the search for homes suitable for the individual or team, to the operational running of the spaces,''providing ready to stay homes with everything you need. The idea is to make it 'as easy as booking a hotel these days', according to Mark Willard. That is, 'to make it easier for companies to move their employees anywhere, for apartment owners to secure the best corporate clients and for individuals on business trips to feel like they are at home'. The company, which entered the Portuguese market during the pandemic and already has 7,000 available apartments, aims to continue to grow and expand its presence in the national market. They also want to become "the leading platform in corporate housing management in Europe and the Middle East by 2025. "

Apartool was created in 2015 as a graduate work project of founder Marc Vilar''during his master's program in business administration, with the help of his colleagues Albert Sereso and Paul Carreras. Back then, we were more focused on offering vacation housing than a corporate product. After presenting the project, we decided to take a risk and found the company in the summer of 2015. We were three young people eager to innovate. Our initial idea evolved over time and we became what we are today - a temporary housing platform operating in over 85 countries. We currently have over 120,000 apartments and handle an average of about 1,000 requests per month for stays of more than one month.

What types of companies do you serve? Can you give us some examples?

We mainly work with three''for your services?

We notice that in the field of business travel, companies are constantly striving to improve the experience of their employees who are temporarily traveling. They realize that providing employees with an apartment with services, amenities and comfort is an important aspect of their well-being and productivity. And this is where Apartool comes into play. On the other hand, we needed to fulfill a very specific need - improving long-term apartment booking operations. Corporate travel agencies and companies are looking for convenience, and this is where our proposed technological approach comes to the rescue: a platform that allows them to have a single point of contact for services, terms and conditions, payment, billing and''contracts, while ensuring the quality of corporate housing provision and simplifying the work of the travel manager. We say that we are "hotelizing" the long-term accommodation operation by offering a corporate housing solution with the same ease as a hotel booking currently takes place: with a single online contact and maximum confidence in the contract.

What countries is Apartool currently present in? What are the expansion plans?

Apartool offers apartments in more than 85 countries and provides its services worldwide. We can find what you need in any location, even the most remote, thanks to our cooperation with partners around the world. As for our expansion plans, this year we have made''significant successes. After successfully consolidating our position in the Spanish, Portuguese and French markets, we have recently opened a branch in Dubai to meet the needs of the very demanding Middle East, which has a very high percentage of expatriates among its population. The round of investment we have just completed will allow us, in addition to strengthening our position in the markets where we already operate, to expand into new markets such as Italy, Germany and the UK.

How are things going in the Portuguese market? What kind of companies are approaching you?

Our business in Portugal has been growing steadily since we started operations in September 2020. So far, we have exceeded €1 million in revenue.

How many apartments do you have now'. 'suitable for their needs.

With the apparent lack of real estate offers in Portugal, where do you have opportunities for your projects? Are you renovating a property intended for other purposes? Are you constructing new buildings? Buying or renting?

Our approach is based on strategic partnerships with apartment owners that help us offer the best living solutions to our clients.

What is corporate housing and how does it differ from other forms of temporary accommodation?

Corporate housing is a temporary accommodation option for companies, corporate travel agencies and relocation agencies relocating employees for professional reasons.''The main difference is that it is specifically tailored to the needs of business travelers: the idea is to provide accommodation options designed to adapt to their lifestyle and enable them to work from their temporary accommodation as if they were at home, including, respectively, services that other forms of temporary accommodation do not take into account. In addition, it is also a residence that can last from one month to one or two years.

In this typology, Apartool offers apartments with services. In other words, fully furnished and equipped apartments offering business travelers a place where they can feel at home.

Apartments''s services are designed to meet the specific needs of business travelers. They provide work areas, fully equipped kitchens and additional amenities to ensure that you can be productive during your stay. This type of accommodation is ideal for extended stays because of the greater comfort and flexibility compared to other types of corporate housing.

What are the benefits of using Apartool's service? Where do you differ from your competitors?

Our service is that Apartool 'hotelizes' the corporate housing sector, simplifying and digitizing accommodation search and management so that finding personalized solutions is as easy as booking a hotel today. Our goal is always''make it easy for companies to move their employees anywhere, provide apartment owners with the best corporate customer experience and make temporary residents feel at home.

In addition, we offer apartments fully equipped and furnished for a quick and comfortable installation, as well as a single management of all services and conditions on one platform, from booking to billing and resolving possible incidents. Finally, one of the most valuable benefits is that each client has their own "key account manager", ensuring personalization and meeting their individual needs.

What services and amenities are offered in corporate housing apartments? Are all''inclusive?

The properties we offer have been designed to provide comfort and flexibility during your stay. That's why all of them are fully equipped and furnished, ready to move in, and all of them have high-speed Wi-Fi. On the other hand, the price includes regular cleaning with a change of bed linen and towels, as well as all utilities such as water, electricity and/or gas. In other words, all costs are included, eliminating unpleasant surprises and making it easier for companies to manage their finances.

Corporate housing can be customized to the requirement of a specific company/team?

Naturally, personalization is one of our core strengths. We realize that every company, specialist''and teams have their own unique needs. That's why we work closely with the client to customize our offerings to their specific needs. Regardless of location, budget or length of stay, we ensure that everything is customized to meet their needs. To make the experience even more personal, we assign each client a "key account manager" who will be responsible for deeply understanding their needs and developing a customized accommodation plan.

What are the main challenges in temporary business travel accommodation?

The main challenge of this industry is the professional management and digitalization to the process of booking, billing, payment and all''The formalities involved in the provision of services were transparent to the client, not having to deal with multiple suppliers with their own terms of service and contracts etc. Not forgetting the challenge of providing flexibility in bookings and length of stay so that one can adapt to the changing needs of customers with flexible booking policies.

We believe that Apartool's offering, which centralizes all management on one platform, is the answer to this challenge. On the other hand, the temporary accommodation industry is of course facing other challenges, such as sustainability and corporate responsibility, which are becoming increasingly important as companies take action''to encourage sustainable practices.

What is Apartool's turnover and what are the goals for the coming years?

In this year 2023, we aim to achieve revenues of €15 million. Our goal for the coming years is to maintain business volume growth, as we have done since 2019, doubling annually.