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Record growth for UK Serviced Apartment sector continues: Over 2,000 new units set to open in 2018

The ASAP/Savills Sentiment Survey (Nov 2017) confirmed that over 40% of operators are looking to accelerate their expansion plans in 2018.

The Association of Serviced Apartment Providers (ASAP) – the not-for-profit trade body for the serviced apartment sector – confirms that the strong growth of the sector is on track to continue this year with over 2,000 new units set to open during 2018, representing a + 9%*  increase on current stock.

Key new openings this year include:

  • Staycity Aparthotels – launch their ‘Wilde Aparthotels by Staycity’ brand with the opening of their first property on the Strand, London – 106 apartments – in early March.
  • Cycas Hospitality continue their rapid expansion in the UK with the opening of Staybridge Suites Manchester this spring – 116 units, a dual branded property along with a 212 room Crowne Plaza Hotel;  this summer they will open the largest extended stay property in Europe – Residence Inn London Kensington – with 315 suites.
  • Go Native will be opening 3 new properties this year: London Warehouse in Manchester with 166 suites along with a brasserie, co-working space, cocktail bar and fitness studio; as well as Empire Warehouse (London’s Southbank) this spring and 64 apartments in Glasgow (Anchor Line Building) this summer.
  • Room2 by Lamington will open their first design-led aparthotel outside London in Southampton this spring – with 71 studio apartments – as well as an extensive public area for informal meetings which will include a grab-and-go coffee bar.
  • SACO The Serviced Apartment Company continue the rollout of their new Locke aparthotel brand with the opening in Manchester of Whitworth Locke this year – with 72 units as well as a gym, co-working space, brasserie and cocktail bar.
  • Supercity Aparthotels will be opening their 4th aparthotel in London – The Chronicle – this summer with 53 luxury apartments as well as a restaurant, gym and 2 floors of office space; they will also launch their first property outside London later in the year – Queens Square in Brighton – with 65 apartments as well as a restaurant and gym.

James Foice, Chief Executive of the ASAP, comments: "It’s fantastic to see such strong ongoing confidence in our serviced apartment sector with so many significant new openings by our operator members in 2018. It’s hugely exciting to see the consumer demand for our alternative way to stay continue to increase year on year, with the significant increase in business from the leisure market now shorter lengths of stay are possible. It’s tremendous to see the new development now happening in cities like Southampton and Brighton for the first time as well as in the major cities of Manchester, Glasgow , Edinburgh and London."

ASAP is sharing all the latest news about new developments in the sector at the Business Travel Show on 21/22 February where 10 of its members/partners will be exhibiting in the dedicated ASAP Serviced Apartment Pavilion.

The ASAP/Savills Sentiment Survey (Nov 2017) confirmed that over 40% of operators are looking to accelerate their expansion plans in 2018.

 

*The +9% growth is based on the current (February 2018) total number of apartments in the UK and Ireland: 22,075 units, as confirmed by STR.

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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