Serviced apartment operator SACO has reported a rise in revenues and corporate bookings for the last financial year.
The UK-based company, which has properties in 220 destinations worldwide, saw corporate bookings rise 15 per cent compared to the previous period. Online reservations rose 41 per cent and revenues jumped 21 per cent.
SACO said its financial results highlight the “huge growth potential” in consumer bookings, having seen an increase of 260 per cent over the past year.
In 2014 SACO increased its global presence to 52 countries, with the number of apartments it offers passing the 30,000 mark for the first time.
In the UK, SACO grew its London footprint by 25 per cent, expanding its UK portfolio by 13 per cent.
SACO sales director Ben Harper, said: “The popularity of serviced apartments continues to grow, and today’s savvy business travellers are embracing the flexibility and freedom that come with having a whole apartment to live in – without sacrificing the reliability of a globally-recognised brand.
“However, the important thing from a long term perspective is that when people trial a serviced apartment, we’re exceeding expectations. Our satisfaction levels are up 3% on last year, with 94% of visitors rating their stay as excellent or above. It is this consistency and quality that is driving repeat bookings and establishing SACO as a major player in global hospitality.”
The company has released its results ahead of the Business Travel Show, where the company will unveil research on the latest trends in business travel.