Press
Serviced apartment industry continues to flourish, says GSAIR
22 June 2023
“Serviced apartment usage, rates and length of stay are all up on 2022 figures, with 80% coming from the corporate travel sector. Traveller safety, guest experience and policy compliance remain key criteria for relocation and travel managers” says Charlotte Flach
in The Business Travel Magazine
“Key GSAIR 2023 findings include:
- Serviced apartment usage has grown for the 10th consecutive GSAIR
- For corporates, usage has grown by 53% for business travel, 38% for assignment work and 89% for relocation.
- Agents on the other hand say usage has grown most for assignment work at 64%, 55% for business travel and 44% for relocation.
- Operators estimate that 20% of bookings are now for leisure travel.
- Average length of stay is increasing
- 89% of corporates predict that the average length of their business stays will increase or stay the same in 2023.
- 87% of serviced apartment agents reported an increase in average length of stay of their clients versus 45% in 2022.”…