London - 25th June 2018 – The Apartment Service (TAS Global) has published the latest edition of its award-winning Global Serviced Apartments Industry Report (GSAIR), compiled by the Travel Intelligence Network (TIN). GSAIR estimates there are now in excess of 1,022,984 serviced apartments worldwide (with a further 73,563 corporate housing units) in more than 13,164 locations. This compares to 826,759 apartments (with 70,300 corporate housing units) in 10,777 locations two years ago. These figures represent a significant increase in available inventory; 23.7% growth compared to 10.5% growth as published in the 6th edition.
(TRAVPR.COM) UNITED KINGDOM - June 26th, 2018
MEDIA RELEASE
‘The Apartment Service (TAS Global) reports the number of serviced apartments globally reaches in excess of 1 million worldwide’
7th edition of GSAIR launches today
London - 25th June 2018 – The Apartment Service (TAS Global) has published the latest edition of its award-winning Global Serviced Apartments Industry Report (GSAIR), compiled by the Travel Intelligence Network (TIN).
GSAIR estimates there are now in excess of 1,022,984 serviced apartments worldwide (with a further 73,563 corporate housing units) in more than 13,164 locations. This compares to 826,759 apartments (with 70,300 corporate housing units) in 10,777 locations two years ago. These figures represent a significant increase in available inventory; 23.7% growth compared to 10.5% growth as published in the 6th edition.
This 7th edition, compiled from both primary and secondary global sources, has comment and debate from over 40 industry buyers, suppliers and consultants. It also features a series of case studies detailing how corporates have successfully adopted serviced apartments for business travel, assignment working and relocation requirements.
Assessment of the results of the latest GSAIR survey of 6,000 corporates, 2,000 serviced apartment operators and over 1,800 agents show the following;
· Over half of corporates are using serviced apartments for business travel, with 40% of corporates allocating up to 20% of accommodation budget to extended stay solutions
· Serviced apartments have found their niche as a ‘stand-alone’ category and are featuring less in the standardised annual hotel RFP’s
· 37% of corporate companies are now mandating the use of a specialist agency channel (similar to TAS Global), alongside an RMC or TMC for their apartment bookings.
· 47% of corporates allow their travellers to independently select/book their own long stay accommodation
· Corporates are continuing to leverage long-stay savings of between 17% and 29% versus their hotel programme spend
Charlie McCrow, CEO of The Apartment Service says ‘The growth of supply of the global serviced apartment industry continues to increase at speed and as predicted in the last edition of GSAIR. There is still huge potential for growth and new opportunities in many destinations.’
Jo Layton, MD Group Commercial Sales adds ‘As the sector continues to mature and grow, the key requirements of compliance, transparency, analysis and cost effectiveness - added to ease of booking - are becoming even more apparent. Open debate and continued communication with all stakeholders is important to drive the continued development of this vibrant sector forward.’
Full results www.apartmentservice.com/GSAIR.
- END –
For press enquiries please contact:
Bard Vos – Marketing Manager – bard.vos@apartmentservice.com
Jo Layton – MD Group Commercial Sales jo.layton@apartmentservice.com
About The Apartment Service (TAS Global)
The Apartment Service (TAS Global) is the leading global serviced apartment booking agency. Recognised as having over three decades of experience of offering a wide choice of solutions for corporate travel buyers looking to develop global, regional or local extended stay programmes for extended business travel, relocation and assignments, travel management needs and project business. TAS Global provides an end to end service for consulting, sourcing, booking, managing and analysing reservations into corporate housing, extended stay, residences and serviced apartments worldwide from our 7 global offices in New York, London, Lisbon, Madrid, Barcelona, Frankfurt and Singapore using our own proprietary technology.
In February 2014 The Apartment Service launched the celebrated TAS Alliance bringing together small and large serviced apartments operators across the globe under a single representation, distribution and marketing strategy, all powered by a common technology platform.
For more information, visit www.apartmentservice.com and www.thetasalliance.com
###
