Serviced Apartments Summit 2013!!
First Annual serviced apartment summit was held at London this past week at the Luxurious Andaz Hotel. Where delegates from America, Europe, Middle East, and Asia came and attended the Summit conference.
The optimistic serviced apartments summit was very much focused on various topics including investment and financing design, market fundamentalist, distribution of traveling and marketing. The upbeat groups of industry leaders were very much convinced of the sectors having impressive growth of potential in them. According to our market research there are around 655,500 serviced apartments at 8800 different locations worldwide.
In one of a report issued by The Travel Intelligence Network and Serviced Apartments London, The Serviced apartments sector can be divided in to two key different categories, such as Corporate Housing subject and Extended Stay at apartments which are being booked similar to hotels. In that report Charles McCrow, describes that the “Mobility-Revolution” is underpinning the demand of such services and products. With the increased globalization of business is the reason behind it. With creating more mobile global workforce which works on both short to medium or even longer terms of contracts and projects.
The HVS – Global consulting firm also presented his report at the Summit titled “Here to Stay”. In their report, the director Arlett Oehmichen and his analyst Veronia Waldthausen outlines an overview of the renowned industry with targeting specially the European Market. The European market leaders include the brand “Adagio” from Pierre et Vacances and Accor, and from Ascott groups the Citadines. The international brands and operators like Startoowd Hotels and Resorts to Residence Inn by Marriott. These element brands are expanding increasingly alongside with many other niche players, like; Supercity UK which has only 3 London locations.
According to their report, Waldthausen and Oehmichen both points out the key trends which highlighted the small sizing of rooms of developed properties. In respond to the “Frugality” of the global ongoing economic crisis, many of the small room’s sizes are being design with foldaway tables and retractable beds to accommodate guests to combine sleeping, living, dining, and working even in the small space of 200 square feet. They also point out the issue regarding to confusion and trouble in financing the serviced apartment’s development acquisitions; as these apartments represents a niche sector in larger hotel and other residential property type.
The hotel industry and the residential sector continues to looks for opportunities to expand and design the highest and best use products, as the frontier of hybrid hotel residence are increasingly garnering attention from all over the world.
These Summits will play an important role to find solutions in the challenges being shaped and to define key trends in shaping the global industry as growth prospects and for the evolutionary progress of its business model.