New Global Serviced Apartments Industry Report

The Apartment Service has launched the sixth edition of The Global Serviced Apartments Industry report.

The Apartment Service Industry Report
The Global Serviced Apartments Industry Report (GSAI) 2016/17, from The Apartment Service, reveals that serviced apartment provision has grown by 10.5 per cent to 826,759 since the launch of the 2015/16 edition. Supply of serviced accommodation has increased across every global region, confirming that this short-term accommodation solution, with its flexibility and cost benefits, is here to stay.As Jo Layton, MD of group commercial sales at The Apartment Service, said at the report's launch in London, "Hotel-like services are only a priority for 35 per cent of corporates, showing continued demand for corporate-housing-style serviced apartments as well as aparthotel products." The fact that 70 per cent of serviced apartments are now bookable online can only add to their appeal for relocation and business travel users.Proof that the serviced apartment offering is meeting corporate needs is given by the 47 per cent increase in their use by corporate clients since the last survey. The global survey was conducted across 10,000 serviced apartment operators, associations, buyers and agents.For the global mobility sector, duty of care is still high on the agenda, as employers look to ensure employees and their families are safe and trackable in turbulent and compliance-driven times. However, the report states that too many travellers still don’t know what to expect in a serviced apartment. The recent global expansion of ASAP’s accreditation scheme as the ISAAP (International Serviced Apartment Accreditation Programme) will make a difference, but grading and accreditation across global markets is a huge issue for the corporate market."The need for education about the serviced apartment product, its suppliers and best practice in deployment is no less important than it was in 2008, when the first GSAIR was published," said Charles McCrow, CEO of The Apartment Service.Generation Y and Z travellers continue to influence the industry. "The new travellers are looking for authentic, customised experiences delivered by companies that are 'real' and have a personality, in a 'the right message, at the right time, for the right person' manner," states contributor Martin Kubler, CEO, iconsulting Hotels.Further details and comment on regional developments and trends will be included in the Serviced Apartments section of our website, and in the Autumn 2016 issue of Relocate magazine.Visit www.apartmentservice.com for a copy of the report.

Relocate Global Serviced Apartments Ultra 2016

 

See the first issue of our new Serviced Apartments Ultra digital magazine in the Digital Issues section of our website.


For more serviced apartment news from Relocate Global, click here.

For more serviced apartment providers, see our Directory

The Apartment Service Industry Report