Year-End Insights: Sustainable Strides & Strategic Shifts

Season's greetings and a warm welcome to the closing edition of Viciniti Corporate Housing 's #StaySmart Newsletter for 2023. In this special issue, we reflect on a transformative year marked by our rebranding and a series of industry milestones—from environmental initiatives in corporate travel to significant mergers reshaping our sector. This year was a big year for us; we rebranded to Viciniti Corporate Housing, and we bid farewell to retiring industry legends Bill Jackson, founder of Transitions Group , DBA Viciniti Corporate Housing and Furniture Options , and Barney Lehnherr , the retiring President of Transitions Group . We also witnessed new legislation for short-term housing and kept abreast of the dynamic real estate sector. Through all these changes, we continue our commitment to lead and inform through #StaySmart. Join us as we recap the top ten moments of the year that have influenced our industry and will continue to shape the future into 2024.

See Gabriel Wacker 's Full Year-End Recap:

1.???? Green Travel: Eco-Initiatives Take Flight

This year, we've seen a significant shift towards eco-conscious travel and accommodations, sparking a conversation on sustainability. At Viciniti Corporate Housing , we've teamed up with GreenFeet to assess our carbon footprint, establishing a benchmark for 2023. As we move into 2024, we focus on broadening our scope of emissions tracking, embracing the industry's push towards greener practices.

RELATED ARTICLE: Travel Businesses Must Focus on Simplifying Sustainable Choices (Link in Comments)

2.???? M&A Trends: Shaping Our Sector's Future

From our debut podcast to the year's final #StaySmart newsletter and episode, consolidation has been a recurring theme across various sectors, including corporate housing, listing agencies, and airlines. Notably, the corporate housing sector saw significant mergers, with Synergy Global Housing acquiring Primestone Housing Solutions , headlining the trend. We anticipate that consolidation will continue to be a driving force into 2024.

RELATED ARTICLE:?Synergy to Acquire Primestone Housing Solutions (Link in Comments)

3.???? Bleisure Boom: Merging Work & Play

The term' bleisure,' blending business with leisure travel, became a buzzword this year. We've observed a surge in travelers extending their business trips for leisure, a trend that shows no signs of slowing down. As we head into the new year, we expect 'bleisure' to become an even more integral part of the travel conversation.

RELATED ARTICLE:?Bleisure Travel Is Not New, But It Certainly Is Now More Recognized (Link in Comments)

4.???? Wellness Waves: Health in Corporate Travel

Wellness has become a pivotal aspect of business travel discussions, especially highlighted at this year's GBTA | Global Business Travel Association conference in Dallas. Companies are increasingly focusing on the wellness impacts on business travelers, looking at metrics that affect their overall travel experience. We hope this trend continues, emphasizing the importance of traveler well-being.

RELATED ARTICLE:?TRAVELER WELL-BEING AND THE SHIFT TO PURPOSEFUL BUSINESS TRAVEL (Link in Comments)

5.???? Legal Shakeup: Real Estate's New Era

A landmark lawsuit against the National Association of REALTORS? could reshape how real estate commissions are structured. While the ruling faces appeal, its implications could reverberate through the real estate and related industries for years to come. We'll be closely watching this story as it unfolds in 2024.

RELATED ARTICLE:?Realtors Found Liable for $1.8 Billion in Damages in Conspiracy to Keep Commissions High (Link in Comments)

6.???? Legislative Lookout: Rentals & Housing

This year, several major cities and Canadian provinces proposed laws affecting short-term rentals, with potential direct consequences for the corporate housing sector. These developments are particularly significant for industry standards and operations, and we're keeping a vigilant eye on how these changes might affect the landscape in 2024.

RELATED ARTICLES:

Dallas City Council: Short-Term Rental Ordinance Changes Blocked by Temporary Injunction (Link in Comments)

The End of Airbnb in New York (Link in Comments)

Time's up for some short-term rentals in B.C. as new housing rules look set to transform scene (Link in Comments)

7.???? Rail Revolution: High-Speed Horizons

The Biden administration has committed to expanding high-speed rail infrastructure, which could revolutionize domestic travel. With several new routes under construction, including a potential line connecting Las Vegas to L.A. for the 2028 Olympics, we're seeing the most significant progress in U.S. rail travel since the 1970s.

RELATED ARTICLE:?Biden administration announces largest passenger rail investment since Amtrak creation (Link in Comments)

8.???? Rate Ripples: Impacting Housing & Relo

The Federal Reserve's decision to pause interest rate hikes has rippled through the housing market, potentially easing the mortgage rate spike seen in 2023. This pause and potential rate cuts in 2024 might rejuvenate real estate transactions and the relocation sector, providing a much-needed boost to corporate housing demand.

RELATED ARTICLE:??Will mortgage rates go down in 2024? (Link in Comments)

9.???? Travel Triumphs: Surpassing Pre-Covid

Travel statistics have been encouraging this year, with business travel in the U.S. surpassing pre-pandemic levels. According to GBTA | Global Business Travel Association forecasts, global business travel will exceed 2019 figures by 2024, signaling a robust recovery and a bright future for the industry.

RELATED ARTICLE:?GBTA 2023 Business Travel Index Outlook (Link in Comments)

10.? Fond Farewells: Honoring Industry Icons

We celebrate the retirements of Bill Jackson and Barney Lehnherr , pioneers who have left an indelible mark on our parent company, Transitions Group , and the broader corporate housing and furniture rental industries. Their influence has been invaluable, and we wish them joyous travels and a fulfilling retirement.

RELATED ARTICLE: Celebrating the Remarkable Journey and Retirement of Bill Jackson and Barney Lehnherr (Link in Comments)

11.? BONUS Airport Apex: K.C.'s Travel Triumph

In a momentous local development, Kansas City International Airport opened its doors, establishing itself as a premier travel hub. Having frequented the new airport numerous times, it is a testament to Kansas City's growth and commitment to modern infrastructure.

RELATED ARTICLE: Kansas City’s New Airport Terminal Is a Glimpse at the Future of Air Travel (Link in Comments)

As the year draws to a close, we at Viciniti wish you joyful celebrations and a prosperous New Year. May your holidays be as homey and heartwarming as the dwellings we strive to provide.?

Connect with us on LinkedIn, subscribe for more insights, and let's continue this journey into 2024 with clarity and commitment to excellence. Visit us at myviciniti.com to start your new year with the wisdom of StaySmart, and contact us for all your 2024 housing solutions .

Cheers to new beginnings and treasured memories. ????? #Viciniti #NewYearNewJourneys #StaySmart2024