THE first quarter of 2014 has seen significant
growth in the serviced apartment sector, according to STR Global and the Association
of Serviced Apartment Providers.
London-based apartments have pushed occupancy
to 77.8% over the quarter. Refresh Accommodation said many tourists
visiting London preferred to stay in studio apartment.
The top three locations
are
- Chelsea and South Kensington (25%),
- City and East London (18.06%) and
- Central and West End (17.13%).
The rise in popularity could largely come down
to price. Hotel prices are set to increase by two percent after a flat growth
rate in 2013.
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Picture Credit: "Palace of Westminster, London - Feb 2007" by Diliff - Own work via Wikimedia Commons
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