UK: Nearly one fifth (19 per cent) of travel managers booked more serviced apartment accommodation this year, an increase of four per cent on 2014.
A survey of 182 European buyers compiled by the Business Travel Show revealed that the number of buyers for whom serviced apartments accounted for more than 50 per cent of their bookings doubled from one to two per cent, though for 89 per cent of buyers they account for 10 per cent or less (84 per cent in 2014).
The survey also found that 19 per cent booked more, or significantly more, serviced apartment rooms this year compared with 2014; 73 per cent booked the same amount; and eight per cent booked fewer.
Nearly half (48 per cent) of buyers insist travellers stay in serviced apartments when their trip exceeds a certain duration.
More than a third (38 per cent) of respondents had more money to spend on accommodation this year, compared to 30 per cent in 2014. One third will have more budget again in 2016. Over half (51 per cent) of buyers will book in excess of 5,000 room nights during 2015, an increase of 12 per cent on last year.
James Foice, managing director of the Association of Serviced Apartment Providers (ASAP), said: “It’s fantastic to see 20 per cent of European buyers surveyed by the Business Travel Show reporting that they have booked significantly more room nights in serviced apartments in 2015. This supports our own research, which confirms that the sector is entering a very significant period of growth with many serviced apartment operators opening new developments across the UK in the next two years. It is extremely heartening to see such positive feedback from the business travel sector who are clearly finding the serviced apartment product really does deliver what the business traveller wants: a more flexible way to stay away with more living space and kitchen facilities. Prospects for 2016 are extremely encouraging and I am confident the market will continue to expand.”
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