UK serviced apartment sector to get 2,000 new units in 2018

Growth is expected to continue in the Serviced Apartment sector this year with an estimated 2,000 new units opening in the UK.

Living area of a Serviced Apartment
The Association of Serviced Apartment Providers (ASAP) – the not-for-profit trade body for the serviced apartment sector – reports that the strong growth of the sector is on track to continue in 2018 with more than 2,000 new units set to open during 2018, representing a nine per cent* increase on current stock in the UK.

Serviced apartments opening this year

Openings this year include Staycity’s Aparthotels in London, Cycas Hospitality’s Staybridge Suites Manchester as well as a Residence Inn London Kensington, Go Native have three openings, Room2 by Lamington in Southampton, SACO The Serviced Apartment Company in Manchester of Whitworth Locke, Supercity Aparthotels with openings in London and Queens Square in Brighton.Expansion is set to continue according to a sentiment survey of the UK sector undertaken in November 2017 by ASAP and Savills, which confirmed that more than 40 per cent of operators are looking to accelerate their expansion plans in 2018. 
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Continued confidence in the sector

James Foice, chief executive of the ASAP, comments, “It’s fantastic to see such strong on-going confidence in our serviced apartment sector with so many significant new openings by our operator members in 2018.“It’s hugely exciting to see the consumer demand for our alternative way to stay continue to increase year on year, with the significant increase in business from the leisure market now shorter lengths of stay are possible.“It’s tremendous to see the new development now happening in cities like Southampton and Brighton for the first time as well as in the major cities of Manchester, Glasgow, Edinburgh and London.” 
Relocate Magazine Winter 2017 front cover
Read more about the mobility industry in the Winter issue of our magazine.
 
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