Phoenix Tree Holdings Limited or Danke, one of the largest co-living platforms in China with the fastest growth, announced that its branded product, Dream Apartment, is joining hands with the Asian Alliance for Food and Beverage (F&B) Industry to launch an employee accommodation rent discount plan to support employees in the catering industry in finding affordable apartments.
The catering industry has been severely hit by the COVID-19 pandemic. It is common practice for most catering businesses in China to provide employee accommodations on top of salaries, to maintain employee welfare. Companies are often required to pay multiple months of rent and the deposit up-front, putting more pressure on firms already facing cash flow challenges due to the pandemic. At the same time, employee dormitories face strict neighborhood entrance controls, forced lease-terminations and rental disputes.
To help solve the challenges in seeking and renting affordable apartments, and to help ease the financial burden on industry members amid the COVID-19 pandemic, Dream Apartment and the Asian Alliance for Food and Beverage Industry expect to jointly provide rent discounts valued at more than RMB 5 million to catering businesses in Beijing, Shanghai and Shenzhen. The plan features a series of measures, including short-term rental services, rent discounts, deposit waivers and free cancellation services, to help ensure safe dormitories and services for catering business employees.
