Lyft starts a business travel brand, escalating its Uber rivalry
Lyft starts Alcove, for business travel, integrating TBR Global Chauffeuring, as it competes with Uber's Elite in the lucrative travel sector.
Lyft is launching Alcove, a new ride-hailing service specifically designed for business travelers. The company recently acquired UK-based TBR Global Chauffeuring for $110 million to support the venture. Alcove will provide premium chauffeur services, with top-notch drivers and personalized features such as temperature control and window positioning. Lyft CEO David Risher emphasized that Alcove will offer a higher level of service compared to standard ride options.
This new brand is part of a growing trend among ride-hailing companies to tap into the lucrative business and executive travel market, which they believe is more profitable than regular rides. In March, Uber introduced its own premium service called Elite, which offers a similar elevated experience for executives and frequent travelers. Uber also acquired Berlin-based chauffeur service Blacklane during the same period.
The global chauffeur market is estimated to be worth tens of billions of dollars, according to Lyft. The new company will initially focus on working directly with businesses and travel management firms. Alcove plans to launch a dedicated portal and mobile app next year to streamline the booking process for corporate clients.
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