Situ forecasts 50 per cent revenue growth

George Sell George Sell Uploaded 03 November 2021

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UK: Serviced apartment agent Situ is forecasting that its revenue will grow by 50 per cent in this financial year as it sees fast-growing demand for international corporate accommodation.

At the halfway point through its trading year, Situ has disclosed a full year revenue forecast of £30 million - an increase of almost 50 per cent from its pre-Covid trading figures.

Situ is also forecasting that the total number of room nights it books on behalf of its corporate customers and TMC partners in this trading year will increase by 53 per cent.

It is seeing particular growth in the global mobility sector, which is set to more than double to reach 22 per cent of its business this year. Production and entertainment – a new target vertical for Situ - is set to represent around seven per cent of its activity this year.

Phil Stapleton, managing director of Situ, said: “We’ve found growth in this part of our business really satisfying to see and have been very lucky to work closely with our clients to understand their ongoing needs, and build our processes and technology around them. We never stop examining improvements in the process of delivering global temporary accommodation, and therefore we’re always challenging ourselves to see what we can do better.

Situ has also unveiled a new brand identity which "draws on the company’s vibrancy, with a bold new attitude bringing to the forefront its development and successes over the past decade". Seeking to reflect its personality, the new brand approach emphasises its focus on develop

“For me, Situ has always been a hospitality company first and foremost, so we think in terms of guest experience and unforgettable service. We all feel so excited to lead our offering with something so reflective of the company’s ethos and personality," said Stapleton. Situ offers live availability to more than 250,000 apartments across more than 115 different countries.

 

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