UK: Staycity, City Marque and Apple Apartments are the latest companies to add their names to the industry definitions charter announced at Serviced Apartment Summit.
The charter is the result of the UK sector’s first moves to introduce clear definitions to an industry which has huge potential but is still regarded as fragmented, with poor consumer and investor awareness.
Over the last six months a “think tank” of industry leaders, driven by Serviced Apartment News and HVS, has debated several sector issues, including a set of definitions. During the 2014 Serviced Apartment Summit in July, a new charter resulting from the think tank discussions was announced by Arlett Oehmichen, director at HVS London, when she presented her company’s latest research on the sector.
Certain definitions have now been agreed upon. “Serviced apartments/extended stay” serves as the umbrella term under which aparthotels and corporate housing fall, each at opposite ends of the spectrum. To download the latest HVS report which contains the full definitions click here.
Since the original presentation Staycity, City Marque and Apple Apartments have signed up to the charter, joining signatories Adagio Aparthotel, Adina, Allstay, The Ascott Limited, BridgeStreet Global Hospitality, CBRE, CL Serviced Apartments, Cycas Hospitality, Frasers Hospitality, Grosvenor House Apartments by Jumeirah Living, HVS, Marriott Extended Stay, SACO, Staybridge Suites, Urban Villa and VisitRentals.
Billy Cowe, general manager at Apple Apartments, said: “As Apple Apartments continues to grow, we are working closely with our industry partners to increase consumer and investor awareness. The creation of this charter has facilitated this goal and opened the door to new objectives and opportunities for a thriving industry. We truly believe that we are more successful when we work together and that this synergy is imperative to the welfare of the industry. Apple Apartments is dedicated to a continuous effort to make ‘serviced apartments’ the go-to category for all types of business and leisure travel.”
Serviced Apartment News founder Piers Brown said: “It’s great to see the serviced apartment sector getting together and collectively producing something that will benefit the industry in general. There is a huge amount of interest and enthusiasm in the sector right now, but there is still a major educational job to be done to improve awareness of serviced apartments among the investment community, planning officials and the end user. This charter is a significant first step in that direction, and I am delighted to welcome the three new signatories.”</p
