Serviced apartments providing increased competition for hotels
Business travellers are increasingly switching to serviced apartments over hotels to reduce costs, according to new data.
Speaking at the first national Association of Serviced Apartment Providers (ASAP) conference earlier this week (19 October), Mark Harris from the Travel Intelligence Network said the serviced apartment sector had seen strong growth this year.
"Some 57% of corporate buyers in the UK are now using serviced apartments to cut costs," Harris claimed. "Companies are more aware of the benefits of apartments, especially for stays of five days or more, while the apartment environment is the perfect fit for the mobile, self-sufficient corporate traveller."
ASAP released its own figures suggesting London occupancy among members was as high as 94% in the third quarter, with overall UK occupancy at 80% (a rise in both cases on the second quarter).
Average net weekly rental in the third quarter in London was £123.85 per night, and £85.71 per night in the rest of the UK.
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By Chris Druce
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