Thirty-eight per cent of respondents had more money to spend on accommodation this year, compared to 30 per cent in 2014. One third will have more budget again in 2016. Over half (51 per cent) of buyers will book in excess of 5,000 room nights during 2015, an increase of 12 per cent on last year.
Nearly one fifth (19 per cent) of travel managers booked more serviced apartment accommodation this year, an increase of 4 per cent on 2014. The number of buyers for whom serviced apartments accounted for more than 50 per cent of their bookings doubled from 1 to 2 per cent, though for 89 per cent of buyers they account for 10 per cent or less (84 per cent in 2014).
These statistics were unveiled in the annual Business Travel Show buyer survey ahead of The Association of Serviced Apartment Providers’ (ASAP) annual conference. The Business Travel Show is exhibiting for the first time. 182 European buyers took part in the survey, 72 per cent from the UK:
- 19 per cent booked more, or significantly more, serviced apartment rooms this year compared with 2014
- 81 per cent booked the same or fewer (87 per cent in 2014)
- Serviced apartments account for more than 50 per cent of room nights for 2 per cent of buyers (1 per cent in 2014)
- 89 per cent of buyers’ accommodation programmes include up to 10 per cent of serviced apartments (84 per cent in 2014)
Nearly half (48 per cent) of buyers insist travellers stay in serviced apartments when their trip exceeds a certain duration:
- Three nights or more – 16 per cent of buyers (11 per cent in 2014)
- One to two weeks – 12 per cent (22 per cent in 2014)
- Two to four weeks – 11 per cent (8 per cent in 2014)
- Over one month – 9 per cent (6 per cent in 2014).
Thirty-eight per cent of respondents had more money to spend on accommodation this year, compared to 30 per cent in 2014. One third will have more budget again in 2016. Over half (51 per cent) of buyers will book in excess of 5,000 room nights during 2015, an increase of 12 per cent on last year.
James Foice, Managing Director of the Association of Serviced Apartment Providers (ASAP), commented: “It’s fantastic to see 20 per cent of European buyers surveyed by the Business Travel Show reporting that they have booked significantly more room nights in serviced apartments in 2015. This supports our own research, which confirms that the sector is entering a very significant period of growth with many serviced apartment operators opening new developments across the UK in the next two years.
“It is extremely heartening to see such positive feedback from the business travel sector who are clearly finding the serviced apartment product really does deliver what the business traveller wants: a more flexible way to stay away with more living space and kitchen facilities. Prospects for 2016 are extremely encouraging and I am confident the market will continue to expand.”
Serviced apartments have been a familiar sight at the Business Travel Show since 2010. The show, which is the leading specialised exhibition and conference for buyers and managers of business travel, takes place on 24-25 February 2016 at Olympia Grand in London.
The popular ASAP Pavilion and International Serviced Apartments Pavilion will return to the show in 2016. The following serviced apartment providers are already confirmed to exhibit:
- Apple Apartments
- Berkshire Rooms
- BRG Hospitality – new exhibitor
- Bridge Street Accommodation
- Brussels Business Flats
- Cheval Group of Serviced Apartments
- Cotels Serviced Apartments
- City Apartments
- City Marque
- Dreamhouse Apartments
- Frasers Hospitality UK
- Go Native
- Knightly Apartments
- Marlin Apartments
- Oakwood Worldwide
- Premier Apartments
- Roomspace – new exhibitor
- stayCity Apartments
- The Apartment Service
- The Serviced Apartment Company.
182 travel buyers took part in the seventh Business Travel Show annual survey in November 2015. 72 per cent of respondents worked in the UK and the remaining 28 per cent in continental Europe.
Respondents’ travel budget: %
Less than £150k/€185k 9
£151k-£500k/€186k-€625k 5
£501k-£1m/€626k-€1.3m 8
£1m-£3m/€1.3m-€3.75m 17
£3m-£10m/€3.75m-€12.5m 14
£10m+/€12.5m+ 47
Number of travellers responsible for: %
Fewer than 50 11
51-100 8
101-500 13
501-1000 13
1000+ 51
N.A. 4
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
