Astra Apartments marks 25 years of change in extended-stay business travel
Founder Peter Davis reflects on lessons learned and changes both big and small in the industry over the last 25 years
Twenty-five years ago, Sydney entrepreneur Peter Davis asked a colleague who was exhausted from weeks of corporate travel how he was coping on the road.
“All I want is to be able to cook a piece of toast,” the colleague replied.
That conversation inspired Astra Apartments, founded in North Sydney in 2001 with just two one-bedroom apartments. At the time, business travellers staying for weeks or months generally had to choose between hotels or signing a residential lease.
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Twenty-five years later, Astra Apartments operates across 23 business districts throughout Australia and New Zealand with more than 550 corporate apartments. Extended-stay apartment accommodation is now an established part of the corporate travel ecosystem.
Lessons learned over 25 years
Looking back on the last quarter century of Astra Apartments, founder Peter Davis told AccomNews that if he could, he’d go back and give himself three pieces of hard-earned wisdom:
Firstly; “Know your margins intimately. Cash flow is king for young businesses.”
Next; “Value your time.”
“Use systems and technology for low-value tasks so you can spend more time on high-value activities, like getting to know your clients better and building strong relationships.”
And finally; “Maintain a laser focus. Focus on what you do best while continuing to challenge your assumptions. Entrepreneurs can easily become distracted by chasing too many ideas.”
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When asked why he remains committed to the industry, Mr Davis said it’s the ever-changing nature of the business, and the opportunity to keep trying new things that excites him. “Trying to anticipate—or help shape—the next evolution of the industry, winning new business, and seeing our business partners succeed.”
The biggest lesson learned, Mr Davis said, was that working as independently as possible is not always the wisest use of time. “Build something that doesn’t rely on your personal effort to scale.”
“Leveraging your time allows for faster growth and frees you up for what truly matters: family, your team, friends and travel.”
A changing landscape
“When we started, bookings came directly from client relationships and were managed manually,” said Mr Davis.
“Today the industry is built around GDS connectivity, online booking tools, integrated travel platforms and far greater visibility for travel buyers. The way accommodation is sourced and managed has changed enormously.”
Over the past 25 years, Astra Apartments has worked alongside travel management companies, corporate travel buyers and relocation partners as the industry navigated changing procurement models, and major disruptions including COVID-19. More recently, this has included the rapid emergence of artificial intelligence within travel technology.
There has also been a significant shift in who travels for work. When Astra Apartments first opened its doors, clients were predominantly IT consultants and finance professionals. The business now supports a far broader range of industries, professions and project-based roles, reflecting the emergence of new occupations, changing project delivery models and an increasingly mobile workforce.
Supporting business and leisure
The role of corporate accommodation has evolved too. While business travellers still value the space and independence that originally inspired Astra Apartments, today’s travel programs are increasingly shaped by considerations such as flexibility, traveller wellbeing, duty of care and supporting employees through longer assignments away from home.
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“Twenty-five years ago, one of our biggest jobs was explaining why someone would stay in an apartment instead of a hotel,” Mr Davis said.
“Today, clients understand the model. They’re focused on finding the right partner.”
“One thing hasn’t changed,” he said. “Corporate travel is still a relationship business. Technology has transformed almost every aspect of how bookings are made, but reliability, responsiveness and trusted partnerships remain just as important today as they were 25 years ago.”
A local ownership model
Accommodation businesses operate around the clock, making responsiveness critical to client satisfaction. Rather than pursuing a heavily centralised operating model, Astra Apartments expanded through local ownership, ensuring guests and travel bookers were often dealing directly with people who had a personal stake in the business.
That model continues to underpin the business today.
Astra Apartments remains privately owned and continues to be led by founder Mr Davis, Managing Director Duncan Adams and Chief Executive Tom Jeavons-Fellows. Half of the people across the Astra network have been part of the business for more than a decade, providing continuity for clients and travel partners.
Looking forward
While technology will continue to reshape corporate travel, Astra Apartments expects personalised service and local relationships to remain central to the business as demand for extended-stay accommodation continues to evolve.
As for the company’s impact, Mr Davis said that what matters most is the team behind it.
“The most important thing is to surround yourself with good people. If Astra leaves any legacy, I hope it’s that the journey our people have with us is a source of pride and helps them achieve their personal goals.”
