The expansion is set to continue into 2015 with ASAP members already planning to open over 500 new apartments next year.
New serviced apartment openings by many ASAP (Association of Serviced Apartment Providers) members will increase the total UK & Ireland supply by over 1276 apartments this year. This represents an impressive 10% growth on the total stock of 13,000 apartments. 70% of the new openings will be in London.
The most significant new openings in 2014 include:
In London
- Go Native – who already opened 41 apartments in March at Monument; 135 apartments will open in Stratford East next month and a further 11 opening at America Square in December;
- Cheval Residences opened 159 apartments at the Tower of London in March followed by Harrington Court with 50 apartments in June;
- StayCity continue to expand rapidly and have now opened 161 apartments in Greenwich;
- City Marque are increasing their portfolio in London by some 150 apartments during the course of this year;
Elsewhere in the UK key openings are:
- House of Fisher opened their first dedicated apart-hotel in Reading with 50 apartments in January;
- ESA are also expanding rapidly opening 83 apartments in new destinations such as Woking and Guildford;
- Apple Apartments just opened 35 apartments in Belfast last week to add to their properties in London and Aberdeen.
James Foice, Managing Director of ASAP commented: “It’s very encouraging to see so many of our members expanding this year proving that the demand for serviced apartments from both the corporate and leisure sectors continues to grow strongly both in London and in key locations in the rest of the UK. London operators achieved quarter one occupancy of 77.8% with the rest of the UK achieving 72.2%.
The expansion is set to continue into 2015 with ASAP members already planning to open over 500 new apartments next year”.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
