Serviced Apartment Sector Grows Despite UK Recession
Figures just released by the Association of Serviced Apartment Providers (ASAP) suggest that the serviced apartment sector has grown rapidly in the last four years despite the economic downturn and doom and gloom reported in other sectors of the British economy.
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September 11, 2012 (FPRC) -- Figures form the Associated Serviced Apartment Providers (ASAP) illustrated that the average occupancy levels in 2011 was 84% in London compared to a year ago where it was a mere 69%.
With the upheaval of Serviced Apartments new corporate relocations are taking place, with businesses under budgetary pressure, business travellers are finding Serviced Apartment London more ideal cost effective solutions compared to hotels.
As Managing Director of Luxap, one of the latest additions to the London serviced apartment sector comments, "At a time when corporate travel budgets are being drastically cut, business travellers are increasingly finding that serviced apartments offer an excellent cost effective accommodation solution compared to hotels. Not only do they offer a flexible accommodation space with distinct areas to sleep, work and eat, but they can also help business travellers reduce their travel costs by avoiding the expensive f hotel extras, such as mini bars, business centre expenses and expensive in-house restaurant meals."
Serviced apartments Kensington have become an integral part of many company accommodation programmes over the last few years with many business travellers reporting that they enjoy the increase privacy that serviced apartments have to offer. It has also been noted that corporate demand for serviced apartments is shifting from prime central areas of London to less expensive secondary locations in zone 2 and even zone 3, in response to the needs to reduce corporate accommodation costs.
In early 2012, it was reported that the overall luxury serviced apartments London now exceeds 6,600 units, representing 6% of hotel supply.
The expansion of the serviced apartment sector can also be explained by the fact that they offer tourists and non commercial travellers to the capital an affordable accommodation option, particularly those with large families, who would typically occupy multiple hotel rooms and those staying in the capital for more of the money.
Send an email to Rahul Katrak of Luxap Apartments
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