The serviced apartment sector in the UK has grown very rapidly over the last five years and every major UK city can now offer the business traveller a wide range of serviced apartments that offer guests their own fully furnished, self-contained flat.
The Association of Serviced Apartment Providers (ASAP), the body that represents the major serviced apartment operators in the UK, has seen its membership double in the last two years, bringing the current total to 50 members. These members collectively represent in excess of 12,000 properties across the UK and Ireland.
David Smith, Chairman of the Association and Managing Director of City Apartments (London), confirms the key reasons for the increased popularity in this sector: “Serviced apartments offer fully equipped kitchens and separate areas to sleep, work and eat, so it offers a more complete home-from-home experience where you can properly relax and enjoy more privacy and freedom. One of the key benefits is the extra space offered. You can expect 30 per cent more space than a comparable standard of hotel room.”
Low-Cost Corporate Travel
Serviced apartments offer a low-cost alternative to hotels as there are no expensive extras to consider, such as minibars, restaurants, room service and laundry. Also, the all-inclusive cost per night, per apartment (not per person) is a significant advantage that enables employees to keep within their company’s travel budget.
Another advantage of paying per apartment rather than per person is the cost-saving involved should a company decide to send more than one employee to a serviced apartment. In this instance, businesses can book a two-bedroom en-suite apartment to be shared by two colleagues who are working on a project together.
Individual travellers can use the living room as a virtual office and, should guests opt to book a larger apartment, the lounge/ dining area can be used for entertaining or holding meetings without having to go to the expense of hiring a separate meeting room.
Flexible Business Accommodation
Serviced apartments are incredibly flexible. From day-to-day essentials, such as providing the necessary facilities that allow visitors to prepare their own meals at their leisure to allowing business travellers to have their family join them at weekends if they opt for a multiple-bedroom apartment, the accommodation provided is designed to provide a homely experience.
There is a wide product choice available, ranging from studios to four-bedroom apartments and penthouse suites. Top-of-the-range developments may even offer roof terraces or access to a swimming pool or gym. In this dynamic young industry the vast majority of developments are modern so the accommodation offers contemporary interiors complete with mood lighting and the latest in-room technology. Apartments can be booked for one night, one week, or several months with the cost generally decreasing the longer the stay (for example, for stays of over 28 days the VAT element reduces to 4 per cent). Many companies have a travel policy to switch to serviced apartments from hotels for stays of five nights or more.
Ask the Experts
All ASAP members commit to a charter and code of conduct, guaranteeing a high quality product.
The members range from individual businesses with a niche product in a single location to international companies with a large portfolio of properties in many different cities. Many ASAP members are expanding in 2012, opening a total of 800 new properties this year across the UK which confirms the ever-increasing demand for this product and the confidence in this sector.
For more information about the serviced apartment industry in the UK, visit Theasap.org.uk.