Taking a business trip to a new city? Chances are you’ve run a hotel room through your work expenses, right? However, you might have been better off joining the growing number instead opting to stay in a serviced apartment.
Traditional hotels were once the go-to for any excursion, but the rise of Airbnb has shown another way, with a huge 100 million stays booked on the platform in Q2 of 2019 alone.
Several of those bookings may have been used for business trips, but the typically informal nature of Airbnb’s hosts does not always chime right when you want to remain sharp for your next meeting.
That’s where serviced apartments bridge the gap. The number of serviced apartments is set to grow more than five-fold over the next three years, clearly displaying a rapid shift in the hospitality sector.
Here we examine the reasons for this growth and why you should consider a corporate apartment for your next trip.
A home away from home
Why are so many people eschewing hotels for serviced apartments? Well, quite simply, you get so many more home comforts.
After a busy day of meetings and presentations, it isn’t always so relaxing to then sit in a busy restaurant and go on to lie in a cramped room, watching whatever TV channels you’ve been afforded.
With kitchen facilities, bathrooms and separate living and sleeping spaces, apartments allow us to stick to our more natural routines and can relieve stress.
Availability is set to soar
The UK is set to see 32% of the new serviced apartments primed to be built in Europe by the end of 2022, with London corporate apartments making up more than a third of those.
With wider availability generally comes greater affordability, allowing more of us to enjoy the benefits of serviced apartments.
It is also set to usher in a new wave of ‘bleisure’ tourism, as workers combine their trips to new cities with a spot of sightseeing, shopping or other cultural delights.
Those with families may be more likely to find an apartment to house both themselves and the children, rather than camping out in a box room with someone tucked up on a sofa-bed.
Something to suit every taste
Many cities are fast running out of space for traditional hotels and their sprawling designs, while serviced apartments do not need to be housed in soaring tower blocks, with many springing up in buildings showing developed usage over time.
While the industry is currently synonymous with newbuild towers and ultra-modern furnishings, a move towards refurbished properties and upcycled fittings will offer something to those who prefer the conventional over the minimalist.