Germany: Booking portal Acomodeo has published its Serviced Apartment Price Radar 2019, highlighting price differences in the world’s major business destinations when booking a serviced apartment compared to a hotel room in 2019.
The key learnings of the report are:
• For long stay travel (four nights and longer), booking a serviced apartment over a hotel is more cost-effective, regardless of the destination.
• The destination’s relevance for long-stay travel plays a major role in the average price as the longer the stay, the lower the price.
• Serviced apartment supply can strongly differ from region to region and from one city to another, which consequently has an impact on competitiveness.
• South-western and Central European regions offer the most consistent price advantages, as a result of well established long-stay demand and supply.
• Despite the limited living space in global megacities in relation to the vast demand, serviced apartments still outperformed hotels in New York, London and Tokyo to name just a few.
• Contrary to hotels, serviced apartments’ price per night decreases as the length of stay increases. This digressive pricing model, together with superior comfort, makes serviced apartments especially attractive for long stay travel.
Eric Jan Krausch, founder and CEO of Acomodeo, said: “During these five years in the market, we experienced multiple trend changes for both demand and supply. We transitioned from a market where the long-stay offer was limited and hardly known by the traveler, to a blooming supply and explosion of demand by companies and travellers alike. In recent times we have observed the ever-growing necessity of companies to optimise their budget. By offering a fully online end-to-end long-stay booking solution, we are helping companies save countless of man-hours and travel budgets. Acomodeo negotiated rates and digressive prices are simply the icing on the cake.”
The full report can be found here.</p
