UK: A preview of the 2020 Global Serviced Apartments Industry Report (GSAIR) has shown that global inventory has risen by 14.75 per cent since June 2018.
The total number of locations worldwide since the publication of GSAIR 7 in June 2018 has grown by 17.5 per cent and the total number of units has grown by 14.75 per cent. In the previous period (July 2016 to June 2018) the growth was 22 per cent and 23.7 per cent respectively.
Other highlights from GSAIR 8 include:
• The top 15 suppliers cover around 50 per cent of all serviced apartment locations worldwide and 58 per cent of all units
• The Accor group had the biggest growth in portfolio (48 per cent) in the past two years, mainly through the acquisition of the Mantra Group in Australasia
• A 33 per cent growth in Asia is largely due to the ongoing expansion of The Ascott Group in the region.
• Europe has seen a 25 per cent increase in the number of units available, due to expansions and new openings in especially UK, Germany and France.
• Africa has seen a 36 per cent rise in the number of apartments available throughout the continent, mainly due to larger chains like Ascott and Frasers opening up larger properties in the region.
Full figures and totals will be published in GSAIR 8 in February 2020.
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