Four in ten corporate buyers report increased use of serviced apartments in 2016

George Sell George Sell Uploaded 28 November 2016

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UK: A poll carried out by the Business Travel Show in collaboration with ASAP has shown a significant rise in the use of serviced apartments by business travel buyers.

The poll surveyed 178 business travel buyers and was carried out in November 2016. Of the respondents, 61 per cent are UK-based and 37 per cent are from continental Europe - 66 per cent of buyers taking part have an annual travel budget of £1 million or more.

Nearly four in every ten (39 per cent) corporate buyers who took part in the research say they will have used serviced apartments more in 2016 than 2015. This figure compares to increases of 19 per cent and 13 per cent in 2015 and 2014, respectively. Additionally, 41 per cent of buyers used fewer five-star hotels, 60 per cent will use more budget range hotels and 87 per cent more mid-range suppliers.
 
The top five reasons given by buyers for using serviced apartments over alternative accommodation options are:
• The convenience of having a self-catering option
• Better value for money
• More space
• The flexibility serviced apartments allow for experiencing the location like a local resident
• Long term suitability
 
James Foice, chief executive of the Association of Serviced Apartment Providers, said: "It's fantastic to see almost double the number of corporate buyers - 39% in this year's poll - confirming they've booked more serviced apartments this year. Our sector is in a very exciting growth period and these survey results are proof that we are delivering exactly what corporate buyers want in terms of a more flexible way to stay which offers guests the freedom to cook, better value for money and more space and privacy."
 
David Chapple, event director, Business Travel Show, added: "Compared to just a few years ago, the accommodation sector has really matured in terms of the variety of accommodation and budget options on offer. The rise and rise of serviced apartments and the entrance of 'sharing economy' suppliers into the industry have helped to shake the market up a bit, introduce some healthy competition and give buyers and travellers a much wider choice, and choice is always a good thing."
 
www.businesstravelshow.com
theasap.org.uk

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