Lyft is betting on luxury rides for C-suite leaders and other VIPs as it looks to expand beyond its core business.
The ride-hailing company is establishing a new chauffeuring brand, dubbed Alcove, that caters to demand for full days of executive travel between client meetings, conferences and flights, Chief Executive David Risher said in an interview. “There is an enormous opportunity in executive travel, corporate travel, events,” Risher. “Right now, it’s just not very well served.”
Lyft’s rival Uber Technologies has also been focused on growing its corporate travel offerings lately. Earlier this year Uber agreed to acquire Blacklane, a chauffeur service that operates in more than 500 cities across over 60 countries, for an undisclosed amount. Lyft’s TBR offers its services in more than 3,000 cities across 120 countries.
The push into high-end corporate travel comes as Uber and Lyft contend with investor worries about whether the rise of autonomous vehicles will upend their businesses. Both have partnered with a range of players to provide robotaxi services on their platforms, and have expressed confidence that they can succeed in the long term with a hybrid network of both AVs and human drivers.
