UK: SACO Apartments managing director Stephen Hanton has called for the introduction of a set of standards in the serviced apartment sector.
In an interview with Buying Business Travel magazine, Hanton said the continued lack of standardisation risks deterring potential investors from getting involved in the sector.
He referred to recent discussions with key sector figures but said for the standards to work “it requires buy-in from the whole industry”.
Hanton said: “The sector needs to attract investors and that’s why we’re trying to work towards standardising data. There should be standards for anything from occupancy rates to knowing what a £200 a night apartment will get you. It’s a pioneering industry so there needs to be some leadership on this as we’re all trying to work towards a common goal but we need everyone to come together to achieve this.”
“We work very hard to help push serviced apartments in the hospitality industry and we relish the challenge in helping to lead the way. SACO has experienced phenomenal growth and success over the last 12 months and we have exciting plans for the future,” he added.
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