More than 80 per cent of European travel buyers booked the same or less serviced apartment rooms this year compared to 2014, according to research from the Business Travel Show.
It shows that booking levels have remained flat over the past year, despite 38 per cent of respondents having more money to spend on accommodation compared to 30 per cent in 2014.
Despite the large number of buyers choosing to book around the same number of serviced apartment rooms this year, the study did show 19 per cent booked more or “significantly more” in 2015 compared to 2015.
Association of Serviced Apartment Providers (ASAP) MD James Foice said this figure shows the sector is in a period of growth.
“It’s fantastic to see 20 per cent of European buyers have booked significantly more room nights in serviced apartments in 2015,” said Foice.
“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.”
The study shows 89 per cent of buyers’ accommodation programmes include up to 10 per cent of serviced apartments (84 per cent in 2014).
The research also found that almost half 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)
The statistics were unveiled in the annual Business Travel Show buyer survey ahead of ASAP’s annual conference tomorrow.