TOP STORY Serviced apartment growth outpacing Europe’s hotels UK: Growth in the serviced apartment sector across Europe continues to outpace that of traditional hotels according to a report from hotel consultancy HVS. LATEST NEWS FEATURES VIDEOS Editor's comment
01-07-2019
• As the 2019 Serviced Apartment Summit Europe gets underway in London, it's great to see two recent pieces of research which both contain plenty for our sector to be encouraged by.
An HVS report reveals there are 23,600 additional apartments in the pipeline to be delivered by 2022, with the UK, where there are 7,507 apartments planned over the next four years, representing a third of this development.
Serviced apartments are outperforming hotels in terms of REVPAR growth across Europe as a whole, and in most individual countries and cities.
These numbers are backed up by STR, whose director Thomas Emanuel told attendees at Katten's recent Serviced Apartment Networking Group event in London that occupancy and REVPAR in the UK rose in 2018 despite considerable supply growth.
And Homelike's survey of 1,000 UK-based business travellers found that a third of them prefer to stay in a serviced apartment rather than a hotel for stays of 30 days or more.
These are exciting times for the sector - let's make the most of the opportunity, starting with the fantastic networking opportunities available at the Summit!
George Sell, editor
Katie Houghton
Group head of sales: +44 (0)7535 135 116
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