How the Serviced Apartments Sector is Ever-Growing

The Serviced Apartments industry has gone from strength-to-strength over the last several years, as more and more are choosing them over the traditional hotel room.

However, whilst it’s clear to us that serviced apartments reign supreme, there have also been some specific factors which have led to advancement within the industry. Here are the ones that we believe have led to the most significant changes:

Increased Proffessionalism

Despite serviced apartments being established in the UK many, many years ago, the industry didn’t see a lot of significant growth for a very long time. This was due to the fact that hotels had been long-established beforehand, and therefore were considered the most trustworthy and reliable when it came to travel accommodation. This unfortunately meant that the sector struggled to find its feet for a long time.

However, in recent years, occupancy rates in serviced apartments have grown as travellers seek more space and amenities when staying in new places. And, due to the long-standing presence of hotels, the serviced apartments industry has been able to observe and learn what works and what doesn’t in order to develop. This advantage has proven extremely lucrative, as a survey in 2016 showed that serviced apartments in the UK had an average of 81% occupancy whilst hotels sat below at 77.2%. And it’s only got better since then.

The Rise of Airbnb

This may sound contradictory, as AirBnB is often thought of as one of the world’s biggest competitors to those supplying serviced apartments–which is true, to a certain extent. However, due to the nature of the service, it actually did a lot to bolster the success of the sector.

Like every other industry today, technology and establishing a strong online presence is the driving force for success. This has been part of what makes AirBnB so big, as the convenience and efficiency of the app has caused it to spread like wildfire. Luckily for us, it’s also educated the masses on alternatives to traditional hotel stays; broadening their horizons and helping them to discover serviced apartments.

Added Space and Comfort

This final point perhaps goes without saying, but many more guests are choosing serviced apartments over hotels due to preference.

Offering more amenities and added space within which to settle, the serviced apartment has trumped the traditional hotel for many travellers over the years. And we’re sure this will continue as time goes on.