TrustedStays jump into our blog this week to share some key insights as the first platform for independently accredited professional stays. You could join the £8 billion revolution next!
What is TrustedStays?
TrustedStays is an industry backed accommodation booking site for corporate and government stays, providing professionally managed home accommodation. With business travel picking back up in a post Covid world, it is important to realise that people are looking for different types of accommodation from hotels, including ones that offer more space, flexibility and are suitable for longer stays. This lead to the launch of TrustedStays, where all homes have been independently accredited and are compliant with all relevant health and safety restrictions.
How did TrustedStays begin?
TrustedStays was born out of the pandemic and is the natural evolution of the Homes for NHS initiative that was launched in March 2020. The offering brought free accommodation to thousands of keyworkers. During the pandemic the team realised that there were many who needed temporary accommodation to prevent the risk of passing the infection to their families, or to stay closer to the hospitals they were working in.
The initiative bought together 30+ short-term rental operators and offered over 1500 homes across all four nations of the UK. More than £20 million worth of accommodation was given to the initiative and the response was incredible!
Whilst the Homes for NHS initiative wasn’t a long term solution, the team quickly realised that the demand for short-term rentals in business travel continues to grow. The reason for this growth is down to professionals wanting a home from home experience throughout their stay. As it stood, hotels were their only option with the right booking processes in place.
Skift has estimated that the corporate accommodation market is worth £156 billion and that short-term rentals could capture 5% of this market. Prior to TrustedStays, no one from the short-term rental sector had successfully won a government RFP or been built into the Global Distribution System that drives corporate, government, and travel agency bookings across the globe.
In 2021, TrustedStays won the first ever UK Government RFP for transient stays in the short-term rental sector to provide residential accommodation for government stays and further grown the opportunity by securing access to build into the Global Distribution System (GDS), which connects global travel suppliers and travel bookers across the industry.
The next chapter
There are more than 200,000 professional property managers across the world who could benefit from this opportunity, and we are working hard with our partners in North America and Europe to bring TrustedStays to them. This could help these property managers access a market which is worth as much as £8 billion.
Total short term rental bedrooms have increased by 3.1 million since January 2018 - that’s roughly equivalent to the total hotel rooms available in Italy, France, Spain & Germany. And what’s more, the industry is growing once more in the wake of the pandemic.
How Trusted Stays can help you
COVID-19 has shown how vulnerable the international tourism market can be to global pandemics. Although the industry is recovering rapidly from the worst of the pandemic, it may take a few years for global tourism to truly return to where it was. All the while, there is a lucrative market in corporate and government travel, which has previously been cordoned off to the short-term rental sector. By joining TrustedStays, you can access this £8 billion market.
Who are we?
TrustedStays has partnered with STAA, the trade association for UK short-term rental companies. The STAA works for the sustainable growth of short-term letting in the UK and a supportive regulatory environment where good operators can thrive. You can find out more at www.ukstaa.org. Also a partner the UK Apartment Association, TrustedStays has launched a cross-industry alliance to open new opportunities for the Build to Rent sector in corporate travel.
Short term rental property managers can also learn about optimising their portfolio with data analytics. Click to learn more about Transparent solutions, from free, to PRO: