Global Serviced Apartments Industry Report out now
The latest edition of Global Serviced Apartments Industry Report, the leading reference sector guide, shows that the sector is in good health as reported ahead of the impact of Coronavirus.
31 March 2020
Growth in supply, broadening distribution channels and brands targeting specific market segments are all covered in the eighth edition of the award-winning Global Serviced Apartments Industry Report (GSAIR), published by The Apartment Service.The new GSAIR estimates that worldwide serviced apartment supply has increased by 14.75% since 2018 to 1,174,012, rising to 1,254,743 including corporate housing units.The number of locations served by serviced apartments globally has increased by 17.5% to 15,464, although the rate of inventory growth has slowed from 23.7% to 14.7% in 2018 vs 2016.Other subjects addressed in the new report include vacation rentals and home sharing; co-living and co-working developments; features on the trends driving the extended stay sector; data security and why serviced apartments are ideal for traveller wellbeing.The 2020/21 edition is the eighth published by The Apartment Service. Once again, at the core of the report are the results of unique research amongst 6,000 corporates, 2,000 serviced apartment operators and 1,800 agents.The GSAIR survey’s findings include:
About The GSAIRFirst published in 2008 by The Apartment Service, the GSAIR was the first report to quantify the scale of the world’s serviced apartment sector. Subsequent editions have established the report’s reputation as the leading reference source on the world’s serviced apartment sector. GSAIR is compiled on behalf of The Apartment Service by Travel Intelligence Network.About The Apartment ServiceThe Apartment Service (TAS Global) is the leading global serviced apartment booking agency. TAS Global has over three decades of experience, offering a wide choice of solutions for corporate travel buyers looking to develop global, regional or local extended stay programmes for business travel, relocation, assignments and business projects. TAS Global operates from our 7 global offices in London, New York, Lisbon, Madrid, Barcelona, Frankfurt and Singapore providing an end to end service for consulting, sourcing, booking, managing and analysing reservations into serviced apartments worldwide, using our own proprietary technology.In February 2014 The Apartment Service launched the celebrated TAS Alliance. The TAS Alliance brings together small and large serviced apartment operators across the globe under a single representation, distribution and marketing strategy, all powered by a common technology platform. For more information, visit www.apartmentservice.com and www.thetasalliance.com
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- Despite economic uncertainty, corporate use of serviced apartments and agency bookings continue to grow
- Business travel remains extended stay’s principal market but only one-third of corporates include serviced apartments in hotel RFPs.
- Corporates quantify the benefits of using serviced apartments by traveller/assignee preference, total cost of stay and rate.
- More than half of all bookings now being placed via an intermediary and selfbooking tools being the fastest growing distribution channel
- Cost, price/quality comparison and location are corporates’ key factors in choosing serviced apartment over hotels.
About The GSAIRFirst published in 2008 by The Apartment Service, the GSAIR was the first report to quantify the scale of the world’s serviced apartment sector. Subsequent editions have established the report’s reputation as the leading reference source on the world’s serviced apartment sector. GSAIR is compiled on behalf of The Apartment Service by Travel Intelligence Network.About The Apartment ServiceThe Apartment Service (TAS Global) is the leading global serviced apartment booking agency. TAS Global has over three decades of experience, offering a wide choice of solutions for corporate travel buyers looking to develop global, regional or local extended stay programmes for business travel, relocation, assignments and business projects. TAS Global operates from our 7 global offices in London, New York, Lisbon, Madrid, Barcelona, Frankfurt and Singapore providing an end to end service for consulting, sourcing, booking, managing and analysing reservations into serviced apartments worldwide, using our own proprietary technology.In February 2014 The Apartment Service launched the celebrated TAS Alliance. The TAS Alliance brings together small and large serviced apartment operators across the globe under a single representation, distribution and marketing strategy, all powered by a common technology platform. For more information, visit www.apartmentservice.com and www.thetasalliance.com
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