Serviced apartment sector sees strong growth

TWO of the UK’s leading serviced apartment brands have reported strong figures for 2014.

The Association of Serviced Apartment Providers (ASAP) has seen a 20% increase in membership to 90 members in 2014, with occupancies reaching 84.5% in London, up 2.1% year-on-year. Occupancy outside of London reached 81.9%, up by 2.6%. The association is looking to expand its leisure business off the back of a successful corporate market.

“ASAP’s quality assessment programme has strong appeal to families visiting the UK, who, like business travellers, want to know that units have been properly assessed and they know what they’re getting for their money,” said the association’s managing director James Foice.

Further promotion of the market is expected this year, with provider Serviced Apartment Company also seeing an increase in business. Its online reservations are up by 41%.

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