The Global Serviced Apartment Industry Report 2011-12 now published
The Apartment Service has published the third 'Global Serviced Apartment Industry Report'.
Charlie McCrow of the Apartment Service confirms: “In comparison with our last report, the total number of serviced apartments has grown considerably. The number of documented serviced apartments shows an increase of 34% whilst the corporate housing total has risen by 58%. The total apartment listings worldwide, compared to 2010 have grown by 36.2% to 669,744…”
There are contributions from a number of industry experts from across the globe, all with their own unique insight.
The consensus is that competition in key markets is growing (which is underlined by the large increase in identified operators worldwide), but that there is a strong sense of optimism about the future of the serviced apartment industry.
“There are certainly reasons to be cheerful” says Charles McCrow, “because there is a growing maturity of the sector and a steadily increasing understanding amongst corporates of the benefits apartments can offer over traditional hotels. But there is still much work to be done.”
The PDF version of the report can be downloaded here.
