Faaez Samadi
Sep 25, 2017

Airbnb targets booming APAC business travel sector

Brand said business travel is a key priority as it seeks to grow its Airbnb for Work booking platform.

Airbnb targets booming APAC business travel sector

Asia-Pacific is Airbnb’s fastest growing business travel market, a thriving sector that the hospitality brand is looking to make serious inroads into.

The brand has seen corporate travel bookings in APAC grow 5x year-on-year between 2016 and 2017, compared to Airbnb’s global average of 4.3x. Around 53,000 companies in the region have used Airbnb for Work, the brand’s business travel platform.

Airbnb for Work provides a host of travel management tools to consolidate a company’s business travel plans, from employee itineraries, to billing and third party booking.

David Holyoke, Airbnb global head of business travel, said the growth was being driven by the changing attitudes of millennials in the workforce, and the growth in freelancers or so-called “nomadic employees”.

The Airbnb for Work dashboard

“Millennials are half of the workforce today, and they are powered by life experiences over, say, possessions,” he said. “We’re seeing more and more business travellers looking for unique accommodations that match their lifestyles, similar to the authentic experiences that come from leisure travel.”

Holyoke added that cost-saving was also a factor in business travellers using Airbnb, with internal research suggesting consumers could save up to 49 percent compared to hotels in key cities in APAC.  

Business travel currently makes up 15 percent of Airbnb’s overall business. By 2020, the company predicts it will account for 30 percent. According to the Global Business Travel Association, APAC account for the largest proportion – 40 percent – of the US$1.2 trillion global business travel market.

Holyoke said Airbnb sees huge growth in the APAC business travel sector, as 75 percent of all business travel in the region occurs within it. He said the brand is focused more on outbound travel rather than inbound, particularly in China.

In Singapore, he said Airbnb is “working with the government” on home-sharing regulations, and has “a desire to work with local communities”. India is also a priority, with Holyoke estimating that it would be in the top five Airbnb business travel markets within the next five years.

A central part of the growth strategy for Airbnb for Work is signing partnerships with APAC brands, Holyoke. To that end, the company has agreed deals with Flight Centre and Hyudai, with more in the works. 

Source:
Campaign Asia

Related Articles

Just Published

16 hours ago

Agency Report Card 2024: Ogilvy

Ogilvy APAC celebrated a strong creative year in 2024, clinching top regional honours at Cannes Lions. Yet operational headwinds, particularly in China, tested its resilience and reshaped its growth strategy.

17 hours ago

Campaign Global Agency of the Year Awards 2024: ...

Ogilvy and UM win global network of the year awards for creative and media respectively, while Special agency in New Zealand earns Asia-Pacific network of the year.

19 hours ago

Apple Watch’s heart story strikes a chord in Japan

Apple’s new Japan campaign tells the real-life story of a heavy metal fan whose Apple Watch alerts help detect a life-threatening heart condition just in time.

19 hours ago

2025 Cannes Contenders: RGA creatives weigh in

A ubiquitous surname, a sexually transmitted infection, the printing of memories and an animal god that helps gamers might all bring fame glory to campaigns in Cannes next week.