Corporate housing supplier BridgeStreet Global Hospitality
this week announced a new brand structure that CEO Sean Worker said was
designed to bring more transparency to the company's products and pricing.
Formerly BridgeStreet Residences, Serviced Apartments and
Suites, the company, which has a portfolio of 50,000 apartments across 60
countries, has created six brands to define the types of accommodations it
offers and their respective amenities. Such product definition is largely
lacking within the corporate housing industry today, Worker said.
"We're not trying to be complicated or creative; we're
just trying to be understood," he said. "It's about bringing an
experience and structure to a vertical of hospitality that needs to be
identified as such."
The brands range from the luxury Exclusive brand, which will
largely be in Europe and India, to the budget Stüdyo brand. Taking a cue from
airline frequent-flyer charts, BridgeStreet developed a comparison chart that
outlines the standards for each brand: the size of the apartments; types of
bedding, bath and furniture; Wi-Fi availability; frequency of renovations; and
entertainment amenities. BridgeStreet will rebrand its properties during the
next several months so that they fall within the proper tier.
"We're being hyper-transparent about our offerings, and
the pricing is clear," Worker said. "If it said there's going to be a
60-inch high-definition television, you'll know that's what you're going to
get."
Worker said the new brand structure also would benefit
BridgeStreet's relationships with corporate travel buyers, as it will provide "a
very clear horizon they can aim for, everything from a six-star to a two-star
experience."