Serviced Apartment Sector to withstand Global Economic downturn

SERVICED APARTMENTS SECTOR TO
WITHSTAND GLOBAL ECONOMIC SLOWDOWN

First ever global serviced apartments survey published by The Apartment Service
- includes Extended Stay Hotel, Aparthotel and Corporate Housing sectors:

Key findings
* 65% of corporates have travel & relocation policies in place
* 72% of companies worldwide use apartments instead of hotels for stays of 7+ nights
* Location is most important selection criteria
* Space and comfort are biggest influences on buyer choice
* Ability to cook for oneself cited by 63% of survey respondents as key factor
* Brand trust is surprisingly not a key purchasing criterion
After almost 50 years, the serviced apartment has finally come of age in the corporate world, with 47% of organizations across the globe now using apartments for long stays, temporary assignments or relocation as hotel rates continue to rise.
That's one of the key findings of the Global Serviced Apartments Survey 2008, undertaken by The Apartment Service amongst over 20,000 bookers, Travel Management Companies, Relocation Management Companies and apartment operators worldwide.
According to the survey, the apartments sector is set to withstand the global economic slow down, due to demand outstripping supply and the cost saving benefits apartments are able to offer over hotels.
The findings of the research form the basis of the first-ever Global Serviced Apartments Industry Report, being written by Travel Intelligence Network and due for publication on September 11th at the Hotel Booking Agent's Forum held in the UK.
As well as detailing the survey's results, the report will contain market size, spend and rates for Europe and other regions around the globe. The 40 page report brings together comment, case studies and trend information into one reference tool for buyers and suppliers alike.
"Until recently, serviced apartments were still something of an unknown quantity for many corporate buyers" explains Charles McCrow, Managing Director of The Apartment Service. "A lot of independent research has been carried out in different territories, but this is the first-ever global survey of its kind. This is also the first time anyone has ever looked at the available data and published a definitive guide to the apartment sector. Hopefully we've achieved that."
The findings will highlight the major operators, explain the different types of property which can be defined as serviced apartments, examine how apartment operators run their inventories and focus on how the sector has come to meet the needs of the corporate.
The Global Serviced Apartments Industry Report is available to download, free of charge, here:

http://www.apartmentservice.com/GSAIR08

A hard copy can also be ordered on this page
ENDS