If you are flying and encounter an emergency where a crash is unavoidable, you try to find one of these "crash pads" to crash into so you won't get hurt too bad.
Just kidding! When a pilot is working for an airline, they don't always live in the area that they are based out of - they commute from home. If this is the case, they rent an apartment, or house sometimes, with a few other pilots to "crash" at (sleep) while they are in town flying. For example, if you live in Janesville, Wisconsin but you fly out of O'hare in Chicago, Illinois you might elect to have a crashpad in Chicago so you don't have to make the long drive or jumpseat everyday to work.