…
The recently published Global Serviced Apartments Industry Report 2011-12 has brought to light some interesting figures about the market share of serviced apartments in the various global regions. In Australia serviced apartments form 25% of the total available temporary accommodation stock, whilst in Europe this figure reaches 2%.
The Highland Group, an authoritative voice on temporary lodging research since 1989 and publishers of the Extended Stay Lodging Market reports since 1999 and the Corporate Housing Report since 2000 has provided us with the figures for the United States and Canada. 7% of total lodging inventory can be appointed to extended stay/corporate housing in the largest global market for temporary accommodation units.
The Apartment Service has worked together with The Highland Group since the publication of the first Global Report on the Serviced Apartments Industry in 2008 and for this third report, Mark Skinner, a partner in the company has provided us with a comprehensive regional overview of the Extended Stay and Corporate Housing markets in the USA and Canada.
The above figures of market share for the serviced apartment/extended stay and corporate housing sector show a great potential of growth in all global regions. And the sector can be optimistic about the future, because of much higher occupancies recorded as in traditional hotels.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
