The Association of Serviced Apartment Providers (ASAP) held its first ever national conference on Tuesday 19 October where the 140 member delegates had confirmation that their sector is experiencing spectacular growth in 2010.

Addressing the delegates Mark Harris, Travel Intelligence Network, confirmed:

'The serviced apartment sector in the UK is showing extraordinary growth this year. Some 57% of corporate buyers in the UK are now using serviced apartments to cut costs. Companies are more aware of the benefits of apartments, especially for stays of five days or more, whilst the apartment environment is the perfect fit for the mobile, self-sufficient corporate traveller. Coupled with more availability, flexible contract terms and greater product consistency, more corporates are including apartments in preferred programmes and are prepared to mandate their use. Serviced apartments are taking market share from traditional corporate hotels, and the sector has a very bright future’.

Figures just released from the Association of Serviced Apartment Providers (ASAP) for the third quarter confirm the significant increase in demand.  London occupancy averaged an unprecedented 94% for Quarter 3 (a 4 percentage point increase on Quarter 2); overall occupancy for the rest of the UK climbed to 81% (up 6 percentage points on Quarter 2). 

The average net weekly rental for London was £867 or £123.85 per night (an increase of 2.5 percentage points on Quarter 2).   For the rest of the UK the average net weekly rental was £621 or £85.71 per night (up 4.5 percentage point on Quarter 2).

ASAP, whose membership has now doubled to 44 serviced apartment companies, represents in excess of 7,500 properties throughout the UK

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