Serviced Apartments Guide 2023

Page 1

e 2023 guide to


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i n T roduc T ion

Overview of the long-stay sector and how it is responding to the ever-changing needs of corporate customers

S u ST ainabili T y

How serviced apartment providers can help you reduce the carbon footprint of your business travel and meet other ESG goals

T echnolo G y

The latest technological developments that are making it easier to source and book long-stay accommodation for your travellers

pro G ramme S

Top tips on why and how you should be incorporating serviced apartments into your travel programme

WhaT ' S n e W

A guide to the most significant apartment openings, plus new brands, concepts and entrants

direc T ory

An essential list of the key industry partners in the serviced apartments sector to help you choose the best one for you

B a L a NC e

Your 2023 guide to the serviced apartment sector, from ASAP and The Business Travel Magazine

Welcome to The 2023 Guide to Serviced Apartments, produced by The Business Travel Magazine in association with ASAP, the Association of Serviced Apartment Providers.

This is our 11th annual guide and once again it's packed full of information, insights and advice about this dynamic and fast-growing sector. Whether you're looking at how to incorporate serviced apartments into your accommodation programme for the first time or take your programme to the next level, this is essential reading.

With a sharper focus than ever on sustainability, wellbeing and duty of care, the long-stay sector is ideally placed to meet the new demands of corporates and their travellers, who are taking longer, more productive trips, working from anywhere, often taking their families with them and adding on leisure time.

Thanks to developments in technology, serviced apartment accommodation is now even easier to source and book, and exciting new players are entering the sector too. Read on...

3 2023 GUIDE TO SERVICED APARTMENTS [ The 2023 Guide T o Serviced apar T men TS ] WRITTEN BY Catherine Chetwynd and Bev Fearis EdIToR Bev Fearis PuBlIshER Kirsty Hicks EdIToRIal dIREcToR Steve Hartridge dEsIgNER Caitlan Francis PRoducTIoN MaNagER Clare Hunter PRoducTIoN coNTRollER Steve Hunter MaNagINg dIREcToR Matt Bonner The 2023 guide to serviced apartments is brought to you
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Strength in numbers

Thanks to high demand and new business models, the serviced apartment sector is flourishing

The raised profile of serviced apartments during lockdowns continues to stand the industry in good stead, and if there were any doubt figures from STR are testimony.

For the full year 2022, serviced apartment occupancies nationwide were 78% compared to 73.5% for hotels, in regional UK (excluding London) they were 76.2% versus 73.4% and in London they averaged 80.5% versus 73.8%.

Nightly rates were also strong: £147 versus £110 for hotels nationwide, £101 compared to £85 regional, and £192 versus £183 in London. Higher rates, according to STR Senior director Thomas Emanuel, are down to three factors: “Location – serviced apartments are in big cities, not on the side of motorways, in rural communities or smaller towns; class differentiation – serviced apartments are not budget and the budget hotel market represents a big percentage of rooms in

the UK, it is one of the dominant players; and space – only a minority of rooms in hotels is suites and you pay more for the space in serviced apartments."

If it hadn’t been for omicron at the beginning of last year, it would have been a record year for Flying Butler, which enjoyed 94% occupancy in October and 86% in November. "That's unheard of at that time of year,” remarks CEO Dominic Sherry, who sees more corporates using them and for longer stays.

Figures from Frasers Hospitality are also markedly positive. “We are seeing really strong performance across all properties in all regions,” says COO Rebecca Hollants van Loocke. “Those in Paris and Berlin are also showing very strong demand, with advance bookings more than 200% higher than 2021 levels.”

This positive environment has spawned the setting up of consultancy, Ariosi by SilverDoor. “We’re experiencing an unprecedented level of investor resilience,

I am contacted on a weekly basis by investors looking to move into the sector, generally by acquiring businesses”

institutional appetite, sector maturity and a narrowing yield gap between hotels and serviced apartments,” says the consultancy's new COO Joanna Cross.

“This represents a tremendous opportunity for operators to improve performance and profitability and there is value to the serviced apartment industry in creating a centralised hub of knowledge, resource and advice; that’s what we are here to do,” she says.

CEO of ASAP James Foice also sees raised interest in investment. “I am contacted on a weekly basis by investors looking to move into the sector, generally by acquiring businesses,” he says. He also notes that some members of ASAP are in conversations about mergers and consolidation, which will mean fewer brands.

Sustainability shift

ASAP and US-based Corporate Housing Providers Association (CHPA) are pushing

sustainability but some members are saying they are not seeing many buyers ask for it

“In my world that is categorically not the case," says global Procurement Director for Travel mobility for Accenture, Jan Jacobsen. "I recently had a meeting with industry peers and everyone is going down that path."

Foice believes an industry-wide shift is required. “We had the same debate about accreditation six years ago, where there was a perception that the travelling community wasn’t asking for it and there is still a feeling in some quarters that RFPs are driven by price,” he says. “Collectively, we must change that if sustainability is going to be pivotal.”

ASAP has introduced ‘Join the Journey’ to encourage members to do just that. “The starting point is measuring carbon output through targeting reductions; it is about initiatives to lower output,” says Foice.

Technology continues to be a sticking point. “There are more platforms

Overview SERVICED APARTMENTS FOR BUSINESS Accommodation your business can depend on Quality, space and comfort / Safety and compliance / Exceptional customer services / Over 40 locations… We’re here to help: SUSTAINABILITY CONSCIOUS
We're experiencing an unprecedented level of investor resilience, institutional appetite, sectory maturity and a narrowing yield gap between hotels and serviced apartments"

available but they don’t seem to have made inroads yet, which is disappointing,” Foice adds.

However, technology companies are increasingly enquiring about sponsoring ASAP to get access to members and the association recently signed and Sky. “They may challenge the age-old route through an agent,” he says.

CWT says the share of room nights booked at the major extended-stay brands, as a proportion of room nights across all accommodation types, was 30% higher in 2022 than in 2019.

Growth strategies

The Ascott is pushing out the boundaries, moving into Austria with a franchise partner. “Franchising enables us to explore territories where, with our investment strategy, we did not previously go, and to strengthen our network in Europe,” says managing Director Europe, Ngor Houai Lee. By October 2022, more than 80% of Ascott’s properties worldwide were signed under management and franchise contracts, up from 39% in 2011.

Adagio, which unveiled a fresh new brand at the start of this year, is also expanding through franchising.

According to Savills, London continues to be the biggest growth market with just under 3,000 units in the pipeline, a 26.7% increase. But key regional and emerging destination cities such as Stuttgart and Belfast in Europe are leading future expansion at 372% and 337% respectively, partly due to greater opportunities.

“European serviced apartment supply is forecast to expand by 21.2% over the next three years,” says Director of Commercial Research marie Hickey.

The sector is on a roll and new business models are also extending the options. The crossover between serviced apartments, build to rent (BTR) and co-living is being propelled by a greater focus on cost and inventory management.

“With investor appetite for BTR to continue, we expect to see more serviced apartment operators move into BTR/ co-living management and/or incorporate these elements into their offer,” she says.

Flying Butler Apartments is a case in

The crossover between serviced apartments, build to rent and co-living is being propelled by a greater focus on cost and inventory management"

point and has moved into BTR with mura Living. “BTR represents only 3%-4% of the residential market; the potential is huge,” says CEO Dominic Sherry.

The company’s first BTR property opened in Hemel Hempstead last December with a gym, lounge, working and dining areas and a media room. The 79-room building is 20% Flying Butler short stay and 80% BTR.

“It allows our serviced apartment guests to have the facilities of a BTR building, plus full-time concièrge, housekeeping and maintenance onsite,” says Sherry.

Flying Butler plans to expand to around 2,000 apartments and 5,000 BTR units over five years, also adding serviced apartments.

Adagio is incorporating an element of co-living into its Paris Bercy property, while Ascott’s co-living brand Lyf secured its first European site in Paris in 2021. Ascott plans to have 150 Lyfs with 30,000 units by 2030. Synergy recently redesigned a former hotel into an apartment block, which provides larger co-working space.

In another spin on the genre, STAy Camden in mixed-use Holly Wharf, owned by sister company Labsgroup, benefits from workspaces and F&B. “This brings operational efficiencies; they share back of house, facilities and property management, and cleaning,” says Vice President Operations Sam ghosh.

ISTOCKPHOTO CO m/g EBER 86 Home Suite Home LONDON • MANCHESTER • BRIGHTON Locations YORK • LEEDS • EDINBURGH Coming Soon Contact +44 (0) 20 3818 9070
There is still a feeling in some quarters that RFPs are driven by price. Collectively, we must change that if sustainability is going to be pivotal”
flyINg BuTlER

Leading the way

When it comes to travelling more sustainably, serviced apartments are a step ahead of the game.

Compared with hotels, they have much lower food waste and fewer communal areas to light, heat or cool with air conditioning. In addition, operators are installing more efficient boilers, providing eco-friendly laundry products and giving the option for less frequent housekeeping.

“Sustainability is no longer a box ticking exercise. Corporates need to see evidence that providers are adopting sustainable business practices,” says Kerry Douglas, Head of Programme for ITM.

“In ITM’s 2022 survey of buyer members,

60% said they require suppliers to meet sustainable targets and 72% of buyers said suppliers with science-based targets would have an advantage in securing their business.”

The trend is backed up by figures from Mansley Serviced Apartments. “More than 60% of RFPs contain ESG/sustainability related questions and at least 50% about specific credentials or certifications,” says Head of Sales and Marketing, Clive Dlima.

The shift to fewer, longer trips, often with family, also has a positive impact on the environment and plays to the strengths of serviced apartments, which have more space and allow greater independence at a more wallet-friendly price.

The debate at SilverDoor's 2022 Partner Engagement Day showed corporates would

pay more for sustainability improvement. But better communication is required, says Group Head of Partner Relationships for SilverDoor, Alex Neale.

“While many property providers are making great progress with sustainability best practice, they are not necessarily communicating that – and with data. We are comfortable telling businesses they need to pay more but it’s critical they have the data to support those conversations.”

Zero emissions

Those that are beating the drum include Lamington Group’s room2, which opened the first whole life net zero ‘hometel’ in Chiswick at the end of 2021 and plans to open three new properties in Belfast, Fulham and Liverpool in 2023. All emissions associated with its production and build, materials used, operations, maintenance, refurbishment, and even the eventual clearance of the building, will equal zero.

The company has also signed the Glasgow

The space is a minefield of information, with corporates at a loss on what is accurate and what is fabricated”
Already ahead in the sustainability stakes, serviced apartments are taking strides to become even greener

Declaration on Climate Action in Tourism.

Reducing energy use by 15% by 2025 is Frasers’ objective, and paperless check-in at some properties has brought both a 40% improvement in operational efficiency and up to 40% drop in paper use. Meanwhile, a smart adjustment of air conditioning and lighting brings electricity savings of 10% and 90% of the group’s properties has phased out single-use plastics. It will reduce water use by 20% in Singapore properties by 2030.

The business has also committed to five outcomes by 2050: to become net zero, to be climate resilient and install mitigation plans by 2024, to green certify 80% of owned and managed assets by 2024 and to bring in green and sustainable financing by 2024. It has already met one goal by training all employees on sustainability by 2021.

STAY serviced apartments in London’s

Camden has achieved a Gold Award from Green Tourism for initiatives that include a minimum of 95% recycling and reuse, with waste transferred on canal barges rather than by road. It has also introduced Smart Green meters to reduce energy consumption, is selecting suppliers with reasonable environmental social and ethical standards, and is protecting colleague welfare through an employee assistance programme.

Mansley Serviced Apartments is working with Green Tourism to achieve a gold medal rating. Measures include replacing old boilers, switching to LED lights and using eco-friendly cleaning materials. In future, guests will be able to opt out of daily housekeeping, with savings donated to WWF

Step by step

‘Be More Starfish’ is Situ’s campaign to promote the idea that small steps can make a difference, like the young man who threw beached starfish back into the sea one by one, rather than being daunted by the task.

“Starfish holds Situ’s promises, objectives, achievements, and actions in one place, including work to encourage key stakeholder groups to take action and make a difference,” says founder and MD Phil Stapleton.

Staycity developed an ESG strategy in 2021 based on greenhouse gas emissions, health and wellbeing, and waste management. It identified 13 workstreams via the UN

Sustainable Development Goals with short, medium and longer terms objectives to 2030. The company is measuring and documenting its energy, carbon, water and waste use and emissions, both directly through operating buildings and indirectly through purchasing.

Jo Layton, CEO CAP Worldwide and co-Chair of CHPA's sustainability committee, says the industry needs standardised emissions information. “Only when a formal global measurement of emissions by unit per night for all serviced apartment operators can be provided to an agent at the time of booking, will global agents be able to offer corporate buyers a trusted and comparable emission count for their programmes,” she says.

Vivi Cahyadi Himmel, CEO and co-founder AltoVita, believes: "The space is a minefield of information, with corporates at a loss on what is accurate and what is fabricated."

AltoVita reports on qualitative measures and requests evidence, with photographic evidence geotagged to ensure accuracy.

Corporates need to see evidence that providers are adopting sustainable business practices”
STAYCiTY room2

Access all areas

Booking serviced apartments is becoming easier thanks to new entrants and tech innovations

The ability to book all types of extended-stay accommodation online is a long-held dream among travel buyers but Marriott’s entry into the sector with Apartments by Marriott Bonvoy, bookable via the group’s reservations engine, will up the ante.

“Recognised consumer brands can only help lift us all,” says Senior Marketing Manager at Situ, Tamara Edgar. “Extendedstay has long suffered from low brand recognition and associated standards, and established names from the hotel industry help promote the whole sector.”

Cycas calls for collective action. “To drive growth in line with user behaviour, it’s vital that global brands work with booking agents connected via Global Distribution System (GDS) providers to evolve their systems, which are fairly inflexible,” says Group Director of Sales, Martin Hird. “I’d love to see them allow hotels to offer tiered pricing to business guests.

“Our corporate customers and agents crave the ability to access up-to-date pricing and the facility to book directly on any chosen platform. Further investment in supporting technology is required to meet

these needs and this will make serviced apartments more competitive in the crowded marketspace,” he says.

Driving data

Since 2021, bookers can use the Mansley website as a self-booking tool via an app. Access to bookings past, present, future, plus statements and invoices, has proved particularly useful. “We are exploring enhanced functionalities and hope to make them available soon,” says Head of Sales and Marketing, Clive Dlima.

Situ continues to refine its pricing tool. This lies in booking software Core, which provides live connection to availability and pricing, a bidding platform (reverse auction) and smart request-to-book inventory search. “We have fed historic and real-time data into our systems to improve speed of response, quality and best pricing. The results are excellent and there are further opportunities to explore,” says Product Manager, Jenny Brace.

AltoVita predicts that revenue optimisation technology will help ensure intelligent pricing, whilst monitoring portfolio performance and studying booking patterns to make informed strategic decisions.

"With this, operators can take the guesswork out of the pricing, increase their revenue and scale operations," says Vivi Cahyadi Himmel, CEO and co-founder. It is no mean task to deliver a winning solution to procurement departments, mobility managers and employees that helps manage costs and keeps guests

happy. “3Sixty brings disparate data together in a single hub for metrics and reporting. Users can create detailed custom reports with geographical, financial and partner insights in one place to help them make smart business decisions,” says Chief Revenue Officer, Carrie Hartman.

Corporate customers and agents crave the ability to access up-to-date pricing and the facility to book directly on any chosen platform”

It uses AI and humans to get best results for users and the 3Sixty service team is available 24/7. The organisation relaunched 3Sixty in August 2022, providing faster technology to collect more information.

Duty of care has not gone by the board and in a new partnership, Dun & Bradstreet Risk Analytics sweeps the 3Sixty supply chain weekly to identify hazardous areas of safety, security, financial health and business practices.

res:harmonics is a property management system (PMS) for operators in co-living, serviced apartments and BTR. It has seen an increase in activity, especially for extended stays, via direct booking portals.

“We’ve found that business travellers searching for a month-long stay might find an apartment on an OTA but prefer to book directly,” says Managing Director Giles Horwitch-Smith. “That’s because direct booking tech has made the whole booking process slick, speedy and secure.”

Artificial intelligence

Technology allows providers to consolidate guest and accommodation data, and create dashboards from which to extract useful insights. Advances in AI are likely to improve this further. Integrated portals let employer, relocation professional and employee share information and regular updates.

“There has been a huge growth in such technology, and HR software development is in the final throes of joining up the dots to include all aspects of managing a global workforce, including the complexities of assignment and business travel. Expectations are high and systems are expensive,” says VP Operations for STAY, Sam Ghosh.

MYSA provides a platform for buyers to interact with operators of serviced apartments and short-term rentals, as well as management companies that provide experiences – now increasingly in demand.

It digitally audits all accommodation. “We provide complete transparency by displaying the outcome of the audit to the buyer through the platform to help them meet ISO 31030,” says Founder and CEO Gary Hurst.

“It gives buyers access to information they require to meet duty of care requirements. It allows them to do due diligence to the level they could with hotels and lets suppliers demonstrate their credentials,” he adds.

But buyers are still hampered by inconsistent technology offerings.

“The challenge we have to include serviced apartments in an accommodation portfolio with hotels is access to the distribution network,” says Jan Jacobsen, Accenture Global Procurement Director for Travel Mobility. “When big players like Marriott create an accommodation portfolio, it becomes more accessible for people like me; that happened with Ascott. But smaller independents either need to join the club or rethink who their customers are,” he says.

Integrated portals let employer, relocation professional and employee share information and regular updates"
A l E x A n DRE MOU l ARD

The best policy

Emerging trends are making it even more vital to include long-stay options in travel programmes

Although use of serviced apartments is increasingly common practice among corporates, they’re not always written into travel policies, but that’s now changing.

“Attitudes to including serviced apartments in travel programmes had begun to shift pre-pandemic but Covid thrust the sector into the spotlight,” says ITM Head of Programme, Kerry Douglas.

“Serviced apartments became the ideal accommodation choice to enable social distancing – and they stayed open. This introduced new audiences, and once travellers had experienced this option, they didn’t want to revert to hotels.”

Hotels will continue to play centre stage but length of stay may dictate use of serviced apartments. “Three, five or seven nights is common, and some of ITM’s buyers even have a trigger of 14 nights,” says Douglas.

Professional services, with long days and the flexibility to work remotely, are an obvious match. Longer trips, often with family, also make apartments a good choice.

For more than 12 months, SilverDoor has seen travellers take fewer but longer trips, prompted by an increased focus on sustainability, the bleisure trend, and working from anywhere.

“It’s increasingly common for partners, family or pets to accompany travellers, or for trips to be extended with annual leave,” says VP Global Business Development Pauline Houston. “Apartments are well placed to capitalise on this trend as they offer more comfort for longer stays, room to work, exercise, entertain guests or accommodate children. It also allows them to eat more healthily, launder clothes and reduce their total cost of stay while cutting their CO2 footprint compared to a hotel stay “Overall, this supports wellbeing and employee-centred travel policies, which can result in better productivity and retention.” Shared spaces and gyms also contribute to a better experience than the traditional desk-to-bed routine.

Wellbeing plays an increasingly important role in travel policies and travel buyers should beware of ignoring that.

“Business travel and being away from home is exhausting,” says Situ Commercial Director, Rebecca Gonzaga.

“Business travellers need to find a sense of peace, somewhere to rest properly, that feels more like home. That is not possible in a busy hotel, living in one room.”

Risk avoidance

Gonzaga warns of the dangers of booking out of policy. “Everyone thinks they are a travel agent and many go off piste and

room2 chiswick ISTOCKPHOTO

make their own arrangements, which is a huge legal and moral risk for employers. It’s essential companies find ways to bring serviced apartments into their programmes to ensure employees’ safety by working with bona fide hospitality operators."

Wisdom should prevail: “It makes sense to look at accommodation as a whole, rather than in silos, to determine the challenges and where gaps exist between what is in place and what the business needs,” says ITM’s Douglas. “There's usually a cost benefit in moving long stays into serviced apartments, and a better traveller experience.”

Data analysis is key to see long-stay activity, concentration of spend and spend volumes by market.

Buyers can learn capabilities for long stay, geographic reach and operational models of other clients by talking to providers.

Top Tips

• Engage regular travellers to get buy-in and incorporate their input. “This will also allow you to know the potential size and shape of what you need, which should grow as you promote this programme enhancement to the wider travelling community," says SilverDoor’s Pauline Houston.

• Talk to a reputable agency provider who can identify providers, negotiate corporate rates according to volume and aggregate your serviced apartment content into one easy-to-book process, directly or via your TMC.

• Consider the total cost. Most travellers don't want to eat out every night so give a grocery allowance instead of a per diem.

• Talk to other buyers in your business. HR and mobility may have supplier relationships that can be harnessed for transient stays and add to your negotiating power.

• Don’t launch with too many apartments in your programme. It's easier to add more rather than risk diluting your spend and losing negotiation leverage in year two.

• Don’t expect to be able to manage apartments like a hotel programme or via an OBT because they can’t be loaded like hotels nor booked in the same way.

With us, you’re at the centre
operate hundreds of stylish, spacious serviced apartments across the UK. Prime locations, conveniently positioned by key business hubs and transport links. Perfectly equipped with the furnishings, features and amenities that matter most.
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Programmes IR yn A MEI ny K
Everyone thinks they are a travel agent and many go off piste and make their own arrangements, which is a huge legal and moral risk for employers"
FLyinG ButLEr

Expanding supply chain

Demonstrating beyond doubt the strength of the sector, three hospitality giants launched extended-stay brands at the end of last year.

Marriott International entered the fray with a global brand, Apartments by Marriott Bonvoy, targeting the upperupscale and luxury segments.

Apartments will be in new-build or converted buildings with separate sitting rooms and bedrooms, full kitchens, but no meeting space, F&B or retail.

Aimed at long-stay guests, ECHO Suites

Extended Stay by Wyndham has 120

properties under construction in the US. Buildings maximise efficiencies and reduce operating costs with studios comprising bed and kitchen, public areas, lobby, fitness centre and 24/7 laundry.

Promising developers a “clean prototype that offers credible return on investment”, Best Western’s parent BWH Hotel Group is rolling out a midscale extended-stay brand, HOME by BWH.

“The extended-stay segment has been outperforming the industry, is driving 25% higher revenue than in 2019, and is showing no signs of slowing down," said BWH Senior VP and Chief Development Officer, Brad LeBlanc, at the launch.

Wide diversity

Meanwhile, existing players continue to grow, with co-working spaces, side-by-side hotels and apartments, lifestyle properties and mixed-use buildings broadening the brief of serviced apartments and ensuring they satisfy the increasingly diverse requirements of a wider audience.

In 2024, Staycity Group will open Wilde Aparthotel in Amsterdam-Noord with 120 units in a mixed-use complex. Aimed at the long-stay market – seven days to 12 months – it will have coffee shop, gym and roof terrace. Staycity is also launching Wilde in Porto (80 units) and Lisbon (94) the same year. The group's development is underpinned by a £30m loan from Oaknorth Bank.

Lamington Group is to open net zero room2 properties in York, Glasgow and Manchester in 2024, 2025 and 2026 respectively, with 116 units, 124 and 180, plus restaurant and bar, work and meeting spaces, gym and laundry.

Adagio plans to double its portfolio by 2025, and openings in 2022 included Qatar (150 units), Malta (71 units), Glasgow (160), Hamburg (148) and Rome (106).

Revo's new 'tribrid brand’ is taking up residence in Munich, providing studios and loft-style apartments with kitchenettes. An adjacent 607-room hotel has gym, bar and restaurant, available to apartment and

room2 chiswick mura living
Development is gathering pace to meet the growing demand for serviced
apartment accommodation
What's new


hotel guests and city residents. Celebrating a year in London is Aptel East, with average monthly occupancies of 80%. A 24-hour guest service team supports on-site technology that allows check-in and electronic keys via a mobile app. The group has plans for new Aptels in the north, south and west of London and the existing east London site will have retail and fitness facilities added in 2023.

Cycas Hospitality is opening Residence Inn by Marriott Manchester Piccadilly early this year. In December it opened Holiday Inn Express & Suites in the Netherlands. Land bought in York city centre will host 19 Mansley serviced apartments.

Citadines Canal Amsterdam and Citadines Danube Vienna launch this year, with comprehensive renovation projects at Citadines in kufürstendamm Berlin, Holborn-Covent Garden London and La Défense Paris and Les Halles Paris. This brand refresh introduces ‘activ∞’, providing fitness amenities and events that encourage an active lifestyle.

New brands

Lifestyle brand MY Locanda is Cheval Collection’s latest incarnation. Launched last year, it will occupy new builds, conversions and refurbishments. It is aimed at short- and long-stay guests with a mixture of studios, one-bedroom units and 60% studios with sofa beds. Buildings combine self-catering facilities in apartments with shared public areas.

The company also opens the first Cheval Maison in Dubai this year, with 130 units, 24-hour F&B in the lobby, rooftop pool and bar, and gym. “This is the first time Cheval has engaged with the competitive

but valuable short-stay market. Properties are in prime city centre locations, with the same service levels and quality as Cheval Residences,” says COO john Philipson. Edyn’s brand Locke is also going great guns with openings Berlin (july 2022) and Paris in 2024 (145 keys). Wunderlocke –Sendling, Munich, opened last year with 360 units, with co-working and meeting spaces, outdoor pool, sauna and workout studio, restaurant, cafe, bar, and Mural Farmhouse Rooftop, where herbs and vegetables are grown for the restaurant. Dorsett Hospitality International opened Dao by Dorsett serviced apartments with 74 keys in july 2022 in London’s Shepherd’s Bush as a response to changing consumer travel habits, inspired by Airbnb.

Along with in-room Pelotons and a self-care club "we're building a community with local residents through event programming –yoga in the park, cocktail master classes, and Dao journeys, so guests can customise their stay", says Area Commercial Director Uk for Dao by Dorsett, Chris Meehan.

The extended-stay segment has been outperforming the industry and is showing no signs of slowing down”
What's new

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Your hotel alternative, providing short- and long-stay accommodation in Newcastle-uponTyne and across the UK.


+44 (0) 20 3744 7525

The design-led Wilde Aparthotels by Staycity brand, inspired by Irish playwright Oscar Wilde, offers premium accommodation centrally located in London, Manchester, Edinburgh and Berlin.

| Barcelona | Berlin | Brussels | Frankfurt | Liverpool | London | Nantes | Paris and in over 200 cities spanning more than 30 countries worldwide across Ascott’s network
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