Number of Serviced Apartments worldwide passes one million
The Apartment Service (TAS Global) has published the latest edition of its Global Serviced Apartments Industry Report, compiled by the Travel Intelligence Network (TIN).
Potential for growth in the Serviced Apartment sector
This seventh edition of the report, compiled from both primary and secondary global sources, has comment and debate from over 40 industry buyers, suppliers and consultants. It also features a series of case studies detailing how corporates have successfully adopted serviced apartments for business travel, assignment working and relocation requirements.Assessment of the results of the latest GSAIR survey of 6,000 corporates, 2,000 serviced apartment operators and over 1,800 agents show the following;- Over half of corporates are using serviced apartments for business travel, with 40 per cent of corporates allocating up to 20 per cent of accommodation budget to extended stay solutions
- Serviced apartments have found their niche as a ´stand-alone´ category and are featuring less in the standardised annual hotel RFP’s
- 37 per cent of corporate companies are now mandating the use of a specialist agency channel (similar to TAS Global), alongside an RMC or TMC for their apartment bookings.
- 47 per cent of corporates allow their travellers to independently select/book their own long stay accommodation
- Corporates are continuing to leverage long-stay savings of between 17 per cent and 29 per cent versus their hotel programme spend.
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