Airbnb corporate bookings are on the rise, and Toronto is reaping the benefits
The share economy is seeping into more than just our business practices and decisions, it’s changing the way we travel for business. Choosing to stay in Airbnb accommodations for business travel is on the rise and Toronto is one of the top cities benefiting from this trend.
According to a press release from SAP Concur, its data shows that using Airbnb to book accommodations for work related travel has increased by 42 per cent from 2016 to 2017 and Toronto is among the top 15 most expensed cities globally.
The use of the online accommodations site is widespread across industries, with technology companies being the second most likely, next to higher education institutions, to use Airbnb for lodging needs.
Even Fortune 500 companies are jumping on this trend, with 63 per cent of Concur’s Fortune 500 customers using this type of accomodation over a typical hotel option.
Toronto typically sees a jump in corporate Airbnb bookings between July and the end of September; likely related to the increase in large industry events that occur during this time period, for example the Toronto International Film Festival (TIFF) which happens annually at the beginning of September.
Because of this increasing trend, SAP Concur has decided to integrate with Airbnb for Work, adding these type of listings to its existing online booking tool. Concur is touting itself as the first and only corporate travel solution to offer these type of listings directly from its platform.
Corporate travellers, which were already able to use Concur’s expense system for Airbnb stays, will now be able to search, book and review Airbnb properties alongside hotel options on the site.
According to Concur, these type of corporate bookings are on the rise and showing no sign of slowing down.