Member Article

AltoVita celebrates 367% year-on-year growth and launches customised offering for start-ups

• Revenue from January to June 2022 increased by 656% in the US and 2,873% in the APAC region • AltoVita’s new dedicated offering for start-up companies presents discounted booking fees and dedicated account management

London, UK; 11th August 2022: AltoVita, the award-winning company that powers the corporate accommodation sector with enterprise software layered with a human-centric approach, has today announced its 367% year-on-year growth, as part of its successful expansion into the US and APAC markets.

Driven by a demand for business travel, which is predicted to increase by 38% in 2022, AltoVita’s regional growth has resulted in a 2,873% increase in APAC and a 656% uptick in the US. The company boasts housing solutions across all 50 states in the US, 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%, AltoVita’s rate is significantly higher than the travel industry average (0.3%). 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% process cost efficiency, with a recent AltoVita case study of 152 group moves for a Fortune 500 company revealing an additional 26.5% cost efficiency from purchasing power consolidation. AltoVita’s international success has also been mirrored in the growth of the team, with a 53% 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 start-up offering is available to companies less than 10 years old with under $5 million in annual revenue. This 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, CEO and Co-Founder at AltoVita, commented: “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.” The AltoVita team has also celebrated recent award wins and recognition. This includes winning Best Apartment Agent RMC or TMC and Best Short-Term Rental Platform at the Serviced Apartment Awards, and being shortlisted for seven categories across the EMEA and APAC regions by the Forum for Expatriate Management Awards. Alongside this, AltoVita is also shortlisted for Sustainability Champion and Best Technology Innovator at the Business Travel People Awards.

This was posted in Bdaily's Members' News section by Lucy Jefferson .