WE
Welcome To FACT , Your Project's Partner
The Caravansary City Project will be replicated in various key countries, with varying architectural designs, while retaining the same main functions, therefore, same parameter categories.
THE CARAVANSARY CITY
The Caravansary is a trading station, a little city with a purpose, parading a Trader-Only-Grand Bazar (The Factory House), espousing an all year round trade fair, and an adjacent retail Souk (Caravan Mall), catering to the everyday need of both participants and visitors, with office and self-catering apartment blocks, and of course the nearby bleisure resort (Caravan Inn Resort), in case visitors wanted to bring their families along for a thrilling combination of business and leisure.
A BLEISURE DESTINATION
Blesisure travel is the combination of business and leisure travel, recent studies found that nearly 60% of business trips include at least one day of leisure time, hence the rising market demand for hotels that can accommodate both business and leisure needs.
BUSINESS TRAVEL TRENDS
Bleisure – the industry buzzword for travelers combining business and leisure is on the rise, growing 20% from 2016 to 2017. More than 40% of business trips are extended for leisure purposes. Business travel is expected to grow to $2,001.1 billion in annual spend by 2028. Year 2017 saw $1.3 trillion spent on global corporate travel. Almost 20% of all travel is work-related. The global business travel market size was valued at $695.9 billion in 2020 and is expected to reach $2,001.1 billion by 2028, growing CAGR of 13.2% of 2019 levels. Sales trips are one of the biggest driers with 43% of companies sending employees abroad for sales trips. 64% of workers consider in-person meeting as a critical part of building a healthy business relationship.
MARKET SEGMENTS
- Exhibition, Convention & Meeting industry worldwide is a key driver of business travel.
- Business visitors are particularly attractive given they are worth approximately 3 times that of the average leisure visitor and they tend to visit in shoulder and off peak months of the year.
- Destination appeal and investment in experiences that delegates can enjoy is a major factor.
- Investment in Sales & Marketing facilities and activities.
- The need to maintain a healthy work-life balance which helps the workers / businessmen unwind.
TRENDS IMPACTING BUSINESS TRAVEL
Globalization in business means that international expansion is one of the most popular business trends at the moment. People want to bring their business to the world, and as a result, the meeting usually take place in locations that warrant travel, leading to a heightened level of business travelers. Blending business with relaxation for better results and personal performance.
FACTORS IMPACTING BUSINESS TRAVEL
- The increase in global connectivity.
- With internet and social media, it’s easier than ever to stay connected with work while on vacation, leading to a change in the way we view vacations, which now can be seen as an opportunity to not only relax, but also to get some work done.
- Covid-19 contributed to the rise of bleisure travel as the pandemic forced many people to work from home. This made it easier for people to combine business and leisure travel, as they no long have to be in a specific location for work.
- The rise of millennial traveler.
- Globalization of business.
- It is harder to take a holiday and plan vacations with family. This is why people are increasingly bringing their families and partners along on their business trips for some quality time.
- In many cases, the company sponsors the business travel. This means that the traveler can splurge a little bit extra without having to worry about paying from pocket. In fact, many businessmen put it on their business expenses tab to save on taxes. This allows them to take a family vacation on company funds.
BLEISURE TRAVELLERS NEEDS
- The need to download and upload data or conduct video calls, so a fast dependable Wi-Fi connection is essential.
- Offering workstations with comfortable seating and plenty outlets will allow bleisure travelers to take care of business requirements while on the go.
- Guests who like to bring their families along, makes it important that the hotel has a dedicated kid’s space.
- Children 7/24 care services
- Multiple kid-friendly gadgets, like free cable channels, hotel iPad that can play cartoons/games etc.
- To create exclusive packages for your bleisure travelers that caters to their specific needs; fast Wi-Fi, workstations, family engagement, extra services which are hard to come by in the general hospitality industry. In other words; services that are curated especially per guest requirement.