The Rise of Serviced Apartments

THE RISE OF SERVICED APARTMENTS AVERAGE LONDON OCCUPANCY IN Q3, 2013... SERVICED APARTMENTS HOTELS Empty (10%) IFull (90%) E mpty (15%) I Full (85%) 64% OF ASAP (ASSOCIATION OF SERVICED APARTMENTS PROVIDERS) REPORTED INCREASED DEMAND IN 2013. BUT. WHY? SERVICED APARTMENTS OFFER. 5% INCREASE IN BUSINESS TRAVELLERS TO LONDON VALUE FOR MONEY SELF CATERING FACILITIES CONCIERGE + HOUSEKEEIPNG MORE SPACE .and 4% in general! O Savvy business travellers are using serviced apartments due to their cost effectiveness + flexibility O In the US, 12% (£1.3bn) of all investment in the nation's hotel sales has been in serviced apartments compared to just 5% (£123.5m) in the UK. And, going by the stats in the US, there's plenty demand for the UK market to grow to the same level... NEW YORK LONDON tttt tttt 5.7 serviced apartments to 1,000 business visitors 1.6 serviced apartments to 1,000 business visitors WHERE DO SERVICED APARTMENTS GO FROM HERE? Future expansion of properties leading to a greater variety of serviced apartments. Expansion through C1-license development leading to the end of the serviced apartment 'grey zone'. More investment from UK institutions rather than overseas investors. Strategies for increased brand awareness and marketing. More targeting on leisure travellers in the quieter periods. * Based on stats from the Savills UK Serviced Apartment Report 2013, The Association of Serviced Apartment Providers. Buying Business Travel and London & Partners. checkinlondon Piktochart London Accommodation Specialists make information beautiful