Worldwide: 77 per cent of respondents would consider booking a serviced apartment according to a recent Cheval Collection report.
Luxury serviced apartment provider Cheval Collection surveyed over 2,000 people in its 2023 Annual Travel report. 74 per cent resided in the United Kingdom followed by 10.3 per cent in North America. The remaining responses come from more than 60 different countries.
51.5 per cent of respondents said that they waited for sales periods or special promotions before booking, with 37.7 per cent willing to book the cheapest rate even if it’s non-refundable.
Sustainability considerations have also increased. In 2022, less than 25 per cent of guests factored sustainability into the booking process. By 2023 this had risen to more than 70 per cent, ranking it as “moderately” or “very important”.
Doug Greenwood, director of sales and marketing, Cheval Collection, said: “Rising interest rates and other costs mean that travellers – both business and leisure – are watching their outgoings. Serviced apartments have moved into the mainstream when guests are considering where to stay, providing flexible accommodation where they can live as part of the local community.
“Sustainability is the issue of our time and travellers want to ensure that their activities are responsible. Partnering with likeminded owners and teams is critical for success in our environment goals, as this issue becomes ever-more pressing.”
To download the full 2023 Annual Travel Survey, click here.
