Increase in demand for serviced apartments

The Association of Serviced Apartment
Providers (ASAP) says demand for serviced apartments   has continued to increase, with London showing an average overall occupancy of
89 per cent for 2010 (up three per
cent).  

Quarter 3 figures from the ASAP showed the
highest occupancy for the year averaging 94 per cent in the capital from July to
September 2010. The average net weekly rental rate in London was £907, up seven per cent on
2009.

For the rest of the UK the
overall occupancy for 2010 was 76 per cent, according to the new full-year
figures, up four points on 2009. The average net weekly rental rate for the
regions grew ten per cent to £594, in a year the association says that saw the
serviced apartment sector expand to many secondary cities in the
UK.

ASAP members reported new major serviced
apartment projects opening in Nottingham, Windsor, Norwich, Salisbury, Farnborough, Bournemouth and Swansea.

ASAP, along with 10 of its members, will
exhibit at the Business Travel and Meetings Show, Earls Court, 8-9
February where the association will highlight to corporate travel buyers the
benefits of using serviced apartments. 

ASAP member Bridge Street Residences, Serviced Apartments and
Suites, tells CN it has built
strong relationships with venues that do not hold their own bed stock “We are
seen as an additional accommodation solution  for these business travellers and
delegates,” says VP sales and marketing Jo Layton. “Our guests vary from those
organising the event to the exhibitors who enjoy the spacious living area (which
they can use for small pre-show briefing meetings. Delegates taking advantage of
a two bedroom/two bathroom  apartment option results in a cost saving.”

Do you have a news story for Conference News? Email: pcolston@mashmedia.net

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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