With the demand for serviced apartments booming, James Foice explains in greater detail how the sector?s trade body is working to promote the industry standard of quality assessment across the board
The serviced apartments sector is increasingly confident as we face 2015. Members of industry trade body the Association of Serviced Apartment Providers (ASAP) bolstered their total stock by 10 per cent last year, meaning it now operates around 14,000 serviced apartments across the UK. As a pointer to future growth, for instance, member StayCity expects to increase its inventory to 5,000 apartments across Europe in the next five years from its current base of 1,000 and this appears a speculative representation of the industry. In total, the sector generated three million nights of accommodation in 2014.
Some 12 per cent of London?s accommodation is now accounted for by serviced apartments, a figure that is forecast to grow to 14 per cent by the end of 2015. It is estimated that serviced apartments represent well over three per cent of total UK guest room supply. These statistics describe a sector that is emerging as a powerful force in the world of hospitality.
Growth has been underpinned by a new focus by ASAP on giving a proper definition to the term serviced apartments and a special programme of quality assessment, both of which aim to give buyers absolute clarity on what they get for their money. Users need to be sure about what they can expect and there have to be global standards.
This year will see ASAP promote the serviced apartment as an umbrella term for a type of furnished apartment available for short and long-term stays, providing amenities, housekeeping and a range of services for guests where taxes and utilities are included in the rental price. ASAP will begin the next phase of the programme in early spring and define a number of sub-categories that will include aparthotel, corporate housing, extended stay, residences, suites and studios, among others. Removing the confusion about the definition will improve understanding of the offer among customers.
ASAP?s quality assessment (QA)programme has also proved to be a turning point in the fortunes of the sector in the UK. The association has completed more than 90 per cent of the assessments designed to create an internationally recognised standard that answers the question: ?How do I know what I am buying??
The new QA logo was unveiled at the ASAP annual conference in London in December last year and plans are now in place to roll out the programme abroad. The vision for ASAP is to establish a standard accreditation model throughout the industry, both in the UK and potentially around the world, so that any individual booking a serviced apartment will know they are getting the right accommodation product for them.
In today?s global environment, customers requiring accommodation increasingly want safe, secure yet personal space, with all the necessary amenities, without the restrictions placed on them by hotels. Serviced apartments offer just this.
Another trend operators have cottoned on to is that an increasing number of executives are looking for accommodation that enables them to bring their friends and families over to stay with them outside the confines of their work schedule. Serviced apartments deliver on both counts and that is why they are booming, not just in London, but all over the UK.
Top tips for booking a serviced apartment
? Check to see that the operator isan ASAP member, as this will actas your guarantee of quality.
? Be aware of the location, familiarise yourself with how close to travel links the apartment is.
? Read the T&Cs carefully to beaware of any cancellation charges,extensions to the booking and departure dates. Know exactly what you are paying for.
? Ensure you have all the facilities you require in the apartment. Ask for an inventory of equipment in advance of your stay.
? Do your research. Has the apartment been quality assessed? Has it been accredited or are there any reviews worth reading?
James Foice is the managing director of ASAP; find out more about the non-profit association?s activities at theasap.org.uk
