Optimizing an extended stay accommodations programs

BridgeStreet is a leading international provider of serviced apartments offering comprehensive program management. The flexible accommodations offered by serviced apartment providers such as BridgeStreet have evolved to deliver solutions that reflect the diverse types of assignment and/or work needs including traditional global mobility, rotational, short-term/project assignments, intern groups, commuter assignments and more.

One of the largest global relocation companies tasked BridgeStreet with creating a single source, global housing program with the goals of delivering multiple housing options for every request, reduce costs, and simplify billing and reporting:

The client wanted to improve its strategic sourcing process by receiving a minimum of three unbiased housing options for each transferee reservation request. Using BridgeStreet’s proprietary supplier management tool, EasySource℠, an average of 3.45 options was received for every reservation request giving the client choice and negotiated rates to choose the right fit accommodation. EasySource also allowed the company to leverage its account volume, decreasing the average daily rate from $135 to $128, for an annual total program savings of over 10%.

Experienced serviced apartment providers should offer technology that increases efficiencies. Organizations should look for fully integrated web-based applications that deliver on all aspects of the temporary housing process — from the initial reservation request to global tracking of travelers and reporting. Based on client needs tools such as online portals, booking engines, bid and supplier management systems and real time reporting can all be integrated.

A mature serviced apartment supplier should also offer a layered approach in which technology and processes are integrated with service programs that allow associates to deliver exceptional customer care. Through BridgeStreet’s guest-centric programs and commitment to service excellence, the company achieved an average guest satisfaction rating of 4.38, on a 5-point scale, among the client’s transferees in 2009.

The breadth of BridgeStreet’s experience allowed it to tackle other challenges including the need for invoicing and reporting in multiple currencies, client-direct billing and stringent data security. The client also received consolidated metrics on everything from reservations, guest satisfaction and service response time to average daily rate and length of stay. Increasing data transparency via aggressive metric monitoring was critical to ongoing evaluation of the program. The client was able to not only measure its existing program but also improve forecasting of global housing demands.

With the client’s business goals at the forefront, BridgeStreet created a custom program that achieved measurable results within the scope and geography of the client’s requirements. The client expected a knowledgeable partner who could help drive changes required to support procurement and service metrics while adjusting to new assignment types. BridgeStreet’s flexible accommodations model offers tools to streamline processes and strategic sourcing, consultation on program design and implementation, and complete management and optimization of a program – capabilities that deliver a custom solution to fit an organization’s unique goals.