New research conducted by the Association of Serviced Apartment Providers (ASAP), and reported by Buying Business Travel, shows that nearly a third of corporate travel buyers increased their use of serviced apartments in 2018.
The increase marks a continued trend of serviced apartment growth over the last decade.
“Better value for money”
Among the business travellers surveyed, serviced apartments were the only accommodation type to experience an increase in use. The research also revealed that buyers are allocating a higher percentage of their budget to booking serviced apartments.
Meanwhile, the number one reason given by buyers for booking serviced apartments was “better value for money”. This echoes anecdotal evidence throughout the industry, and is hardly surprising given that the average serviced apartment offers 30% more space than its equivalently priced hotel room.
The secret is out
The number of corporate buyers who didn’t use serviced apartments dropped from 42% in 2017 to just 32% in 2018. And that confirms a trend we’ve been seeing for years.
Not so long ago, the problem for serviced apartments like mine was simply explaining what they actually were to a largely uninitiated public. But year by year, that’s changing. The secret is most definitely out.
Earlier this year, it was also revealed that UK occupancy rates for serviced apartments had increased. And all over the UK, more serviced apartments are being built or converted. Evidently, once travellers get a taste, they keep coming back for more.
Come and see what all the fuss is about
My apartments in South-West London and Surrey are popular among both tourists and business travellers for a number of reasons – and have been getting more and more attention over the last few years.
They offer space, privacy, convenience and flexibility – all benefits any kind of visitor to London is looking for. I sum it up as ‘affordable luxury’.
You get the kind of freedom and functionality you could never dream of in a hotel; your own kitchen, and a separate area to work or unwind. But because serviced apartments like mine are more like homes, they feel more like homes. They have personality. They’re full of luxury touches that delight and surprise.
That’s why my guests keep coming and back – especially when all those touches come without breaking the bank.
Take a look at my apartments, rates, testimonials or anything else here.