The use of serviced apartments for corporate travel increased significantly in 2016, according to a study from the Business Travel Show.

It showed almost 40 per cent of buyers spent more with serviced apartments this year than 2015. This figure compares to increases of 19 per cent and 13 per cent in 2015 and 2014, respectively.

The study of 178 corporate buyers also showed that cost control was a big focus for companies this year with 60 per cent of buyers using more budget range hotels and 87 per cent more mid-range suppliers.
 
The top five reasons given by buyers for using serviced apartments over alternative accommodation options are:

  1. The convenience of having a self-catering option
  2. Better value for money
  3. More space
  4. The flexibility serviced apartments allow for experiencing the location like a local resident
  5. Long term suitability

James Foice, chief executive of the Association of Serviced Apartment Providers, said: “Our sector is in a very exciting growth period and these survey results are proof that we are delivering exactly what corporate buyers want in terms of a more flexible way to stay which offers guests the freedom to cook, better value for money and more space and privacy.
 
“David Chapple, event director, Business Travel Show, said: “Compared to just a few years ago, the accommodation sector has really matured in terms of the variety of accommodation and budget options on offer. The rise and rise of serviced apartments and the entrance of ‘sharing economy’ suppliers into the industry have helped to shake the market up a bit, introduce some healthy competition and give buyers and travellers a much wider choice, and choice is always a good thing.”
  
BBT is media partner for the 2017 event. Online visitor registration is now open.

Subscribe to the BBT Newsletter

Join the Buying Business Travel newsletter for the latest business travel news.

Thank you for signing up!