UK: Cloud-based global accommodation platform AltoVita has announced its 367 per cent year-on-year growth as part of its expansion into the US and APAC markets, as well as launching a new customised offering for startups.
Driven by a demand for business travel, which is predicted to increase by 38 per cent in 2022, AltoVita’s regional growth has resulted in a 2,873 per cent increase in APAC and a 656 per cent uptick in the United States. The company offers housing solutions across all 50 states in the United States and in 32 countries in the APAC region, including in India, China and Singapore.
AltoVita is specifically built to create a cloud-based bridge between the fragmented property distribution system and Global 2000 companies, SMEs, government agencies, universities, and business travellers, with units in 1,553 locations.
With a global conversion rate of 31 per cent, AltoVita claims that its rate is “significantly” higher than the travel industry average [0.3 per cent]. Its average value per booking is $9,600, with an average length of stay of 48 days.
Through its proprietary technology, AltoVita’s business-to-enterprise solution provides cloud-based automation to streamline the corporate accommodation booking process, rather than relying on manual email and PDF processes. This results in an 82 per cent process cost efficiency, with a recent AltoVita case study of 152 group moves for a Fortune 500 company revealing an additional 26.5 per cent cost efficiency from purchasing power consolidation.
AltoVita’s international success has also been mirrored in the growth of the team, with a 53 per cent increase in headcount in 2022. Roles include technology, product, hospitality partner growth, customer success, marketing, and business development.
Supporting the startup ecosystem
Alongside international and team expansion, AltoVita has also launched its tailored offering for start-up companies.
Committed to ensuring businesses of all sizes can find affordable corporate extended-stay accommodation to meet their business objectives, AltoVita For Start-Ups provides discounted booking fees, no transaction fees, no security deposits, and consolidated billing statements and management. The startup offering is available to companies that are less than ten years old with under $5 million in annual revenue.
The announcement follows the launch of AltoVita’s new Reporting Dashboard.
The Live Stats Reporting Dashboard provides travel and mobility managers access to key data points all in one place in an easy-to-use and interactive format. This includes the number of requests, bookings, total spend, length of stay [LOS] and average daily rate [ADR], among others.
Vivi Cahyadi Himmel, co-founder and CEO of AltoVita, said: “Our rapid expansion into the North America and APAC regions has emphasised the need for innovators like AltoVita in the corporate accommodation market. To match this demand, we’re increasing our manpower in these regions and developing new ways to support companies of all sizes.
“Our AltoVita for Start-Ups announcement spotlights our commitment to the start-up ecosystem, which is often an overlooked demographic for extended stay accommodation in the sector,” she added.
Earlier this year, AltoVita was recognised as the Best Apartment Agent RMC or TMC and Best Short-Term Rental Platform at the 2022 Serviced Apartment Awards in May.
The company’s fast-growing global footprint currently spans 165 countries and 1,554 cities.
