Mint House Introduces Annual Subscription Service
Short-term rental provider Mint House, which focuses on the corporate market, on Wednesday launched an annual subscription service tailored for the “digital nomad,” the company announced.
Dubbed Mint Pass, the program costs $250 for a 12-month period. Subscribers receive rate discounts of 30 percent for stays of five or more nights, 48-hour advance cancellation allowance versus the standard seven-day notice, rewards after staying in five different cities within the annual subscription period and preferred guest communications.
The company’s entire portfolio is part of the program, and although there are no restrictions for the discounted rate—other than standard property availability—Mint House will not sell an unlimited number of subscriptions, Mint House corporate partnerships manager Caroline Rehkow told BTN. She didn’t share how many passes were available, but said the company wants to see how the program starts and progresses before expanding availability.
A combination of guest needs, current hospitality trends and customer survey results led to Mint House designing the offering, Rehkow said. “Eighty percent of our guests are working from our units, and since many companies are supporting remote work, the line between business and leisure is blurring,” she said. Citing a 2020 MBO Partners report, she added that the digital nomad demographic last year grew almost 50 percent year over year to nearly 11 million people, and, noting a January PwC study, she said more than 50 percent of U.S. employees want to continue working three or more days per week remotely. “We want to support those travelers,” she said.
Mint House’s corporate advisory board suggested the company incorporate for subscribers a flexible cancellation policy and demonstrate clear cost savings for users, Rehkow said. “When doing our research, [we found other programs] had a high barrier to entry, like a high annual fee, or there was not a clear-cut percentage off the best available rate,” she said. “We wanted to make sure we were both clear and flexible.”
Average daily rates for Mint House accommodations usually fall within the $199 to $249 range, Rehkow said, but vary by location, with rates higher in places like New York and Miami and lower in others like Detroit and Louisville.
Rehkow said the Mint Pass program might not cater to large corporate programs but would be a good fit for “small and midsize enterprises that might have a few people travel regularly. Say they need to stay in Denver for two weeks, then Miami for two weeks—it creates a cost savings for guests who stay consistently over a period of time.”
Mint House right before the pandemic hit last year partnered with American Express Global Business Traveland also is working on Amex GBT’s new Workspaces program, in which customers can book spaces for the day, Rehkow said. Mint House’s property at 70 Pine St. in New York City’s financial district is participating in that program.
Overall, the company has about 600 units in 12 downtown city locations, with about 2,000 units in the pipeline to open by the end of 2021, Rehkow said, adding that Mint House most recently opened in Austin, Texas, in January 2021, and plans to debut in Columbus, Ohio, by mid-April.