Monday 10 November 2014

Growth in serviced apartments sector

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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