Business Travel Choose Serviced Apartments | 2018

loady working at a desk, writing in a book with coffee and globe

Great News For Serviced Apartments…

We were so interested in the Business Travel Show’s news this week. They revealed that almost a third of corporate travel buyers increased their use of serviced apartments in 2018. In 2017 just over 20% of business travellers chose serviced apartments as their preferred accommodation provider; compared to 35% this year.

When these ‘road warriors’ were asked why they chose apartments, they had many reasons why. The number one reason though was “better value for money”. This was then followed by the convenience of self-catering as an option, more space, flexibility and better working conditions.

Strathmore House Apartments | Plymouth

Here at Strathmore House Apartments, we have found that many stay again and again with us as they love our location and feel our relationship, openness to accommodate bespoke requests and flexibility allow them the real ‘home from home’ experience.

The report also shared that a number of buyers allocated 51-100 per cent of their budget to serviced apartments, with 1 per cent claiming to spend their entire accommodation budget on this option.

The number of buyers who didn’t use serviced apartments dropped from 42 per cent in 2017 to 32 per cent in 2018, whereas the proportion not using sharing economy accommodation options such as Airbnb rose from 38 per cent to 45 per cent. Furthermore, the number that haven’t used five-star hotels also went up slightly from 28 per cent to 31 per cent.

David Chapple, event director of the Business Travel Show, said: “These are pretty extraordinary statistics that prove the industry is making considerable headway in raising awareness of serviced apartments as valid and valuable alternative accommodation for business travellers. Not only are more buyers aware of serviced apartments as an option, they also appreciate the pros they offer to their travellers and are much more open to including them in their travel programmes.”

James Foice, CEO of the ASAP, added: “I am delighted to see a 29 per cent increase in corporate buyers booking serviced apartments this year compared to 2017. The landscape is rapidly evolving for the serviced apartment sector and we’re seeing a significant increase in supply year on year.

“This year, in particular, we have found that more and more companies are booking two-bedroom or two-bathroom apartments, as colleagues will often share the apartment, making it a more cost-effective choice as well as giving employees working away from home some companionship. A two-bedroom option also provides privacy and collaboration space under one roof.”

The survey was carried out in association with the Association of Serviced Apartment Providers(ASAP) ahead of this week’s ASAP Convention.

The 25th annual Business Travel Show takes place on 20 and 21 February 2019 at Olympia London.

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