The popularity of serviced apartments is booming. At the recent Serviced Apartment-Summit Europe, it was reported that more people are staying in hotel apartments while on business trips, and more than half of their stays are fewer than 10 nights.
Only a few years ago, serviced apartments were aimed almost exclusively at the extended-stay market, with minimum occupancy requirements of at least 7 days, but often even 30 or more. This suited people working on long-term projects, but almost no-one else! Over time, apartments began to relax the rules, and providers began to offer short-stay accommodation too.
Buying Business Travel magazine took a straw poll of UK travel buyers which showed that business travel agencies now include options for people to stay in hotel apartments. All of them reported increased take-up during the past year, and expect the trend to continue because of both increased awareness and their cost-effectiveness.
Predictions by Carlson Wagonlit Travel and the Global Business Travel Association are for a rise in hotel prices next year of almost 10%, making the value for money offered by serviced apartments look even better.
Potential cost savings
If you have two members of staff travelling together for a business trip, an apartment represents extraordinary value for money. Each person can have their own room, yet you only pay for the equivalent of one hotel bedroom.
The savings become even greater when you factor in the cost of food. If both employees stay in a hotel, they would have to eat out for every meal. In a serviced apartment they can – and probably will – choose to cook their own meals, especially if they are on a longer trip. Even if they buy the most expensive cut of steak in the supermarket, their expense account will still save a significant amount on even a modest restaurant bill.
Laundry is another expense staff incur on longer-term business trips. Hotel laundry services do not come cheap, and even if your employee was diligent enough to find a launderette, they’d still be paying around £10 for a service wash – a lot more if it was collected and delivered. In a serviced apartment, the only thing they’d need to claim for is the washing powder.
Business travellers prefer a home away from home
Whilst it is fun to stay in a hotel for a couple of nights from time to time, the novelty wears off extremely quickly for the majority of business travellers. Staying in a place they can treat as their home is second only to actually being at home – a fully equipped kitchen, a living room and separate bedroom and the privacy to come and go as you please, not to mention being able to eat your breakfast while you’re still in your PJs, are the kind of normality people crave when they’re away.
If you’re looking for accommodation in North London suitable for your business trips, click here to see our luxury apartments and check availability.