Two of the UK’s leading serviced apartment brands have reported strong figures for 2014.
The Association of Serviced Apartment Providers (ASAP) has seen a 20% increase in membership to 90 members in 2014, with occupancies reaching 84.5% in London, up 2.1% year-on-year. Occupancy outside of London reached 81.9%, up 2.6%.
The association is looking to expand its leisure business off the back of an already successful corporate market.
“ASAP’s quality assessment programme has strong appeal to families visiting the UK, who, like business travellers, want to know that units have been properly assessed and they know what they’re getting for their money,” said ASAP’s managing director James Foice.
Further promotion of the market is expected this year, with provider Serviced Apartment Company (SACO) also seeing an increase in business this year.
SACO has posted a 21% increase in revenue year-on-year with corporate bookings up 15%. Its online reservations are up 41%.
“The popularity of serviced apartments continues to grow, and today’s savvy business travellers are embracing the flexibility and freedom that come with having a whole apartment to live in – without sacrificing the reliability of a globally-recognised brand,” said Ben Harper, sales director, SACO. “However, the important thing from a long term perspective is that when people trial a serviced apartment, we’re exceeding expectations. Our satisfaction levels are up 3% on last year, with 94% of visitors rating their stay as excellent or above. It is this consistency and quality that is driving repeat bookings and establishing SACO as a major player in global hospitality.”
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