28/09/2006

Serviced Apartments Price Survey 2006

UK-wide accommodation services company Go Native has commissioned the first independent UK-wide survey of over 3,000 apartments. Key findings include:

• No nationwide supply chain
• Apartment quality, minimum terms, amenities and inclusive services vary significantly between operators
• A Serviced Apartment benchmark standard does not currently exist
• In price terms, there’s a limited north-south divide
• Serviced Apartments offer increasing flexible terms with over 50% offering 1 night minimum stays
• As far as Leased Apartments are concerned, the traditional six-month minimum term is being eroded as landlords compete to attract blue-chip corporate tenants. Three-month terms are increasingly available.

Driving sector growth are the rise in short-medium term assignments due to companies’ design to avoid permanent relocations for reasons of cost and employee welfare, and the growing numbers of offshore personnel who are entering the UK on temporary working visas. While serviced accommodation is a growing market, it seems there are challenges to be faced. Comments Mark Harris of the Travel Intelligence Network, “Most hotel chains have ensured that most interested parties know what to expect from them, where they are located and how to book them. The same is not yet true of Serviced Apartments.”

For more information, see www.gonative.co.uk.

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