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The 2018 guide to

SERVICED APARTMENTS

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When You Partner With BridgeStreet Your Team Enjoys: Every stay guaranteed City-Central locations Duty of care Spacious, furnished 1-3 bedroom apartments Amenities such as pools and gyms Community & private work spaces

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T: (EMEA) +44 (0) 20 7792 2222 | (USA) 800 278 7338

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[ THE 2018 GUIDE TO SERVICED APARTMENTS ] WRITTEN BY Catherine Chetwynd EDITOR Andy Hoskins PUBLISHER David Clare SENIOR SALES MANAGER Craig McQuinn EDITORIAL DIRECTOR Steve Hartridge CREATIVE DIRECTOR Matt Bonner LEAD DESIGNER Monica Notarnicola PRODUCTION MANAGER Clare Hunter MANAGING DIRECTOR Martin Steady

The 2018 Guide to Serviced Apartments is brought to you by BMI Publishing, producers of The Business Travel Magazine. Print ISSN 1754-8543. BMI PUBLISHING LTD Suffolk House, George Street, Croydon, Surrey, CR9 1SR, UK. T: 020 8649 7233 E: enquiries@bmipublishing.co.uk W: bmipublishing.co.uk While every effort is made to ensure accuracy, BMI Publishing Ltd cannot be held responsible for any errors or omissions. Images courtesy of suppliers as indicated and also sourced from istockphoto.com and bigstock.com

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Your 2018 guide to the serviced apartment industry, from ASAP and The Business Travel Magazine

he serviced apartment sector is maturing rapidly and earning a greater share of the corporate market as readers of this, our sixth annual guide and largest to date, will discover within these pages. Once again produced in collaboration with the Association of Serviced Apartment Providers (ASAP) the guide is an invaluable tool for businesses wanting to capitalise on the cost-saving opportunities and comfort that this sector offers long-stay travellers. The guide also addresses the challenges of this evolving sector, including the array of categories and operating models, but also the innovation and brands that herald a bright future for the industry. ↸

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CONTENTS 04 INTRODUCTION 08 11 15 19 22 24 26

Andy Hoskins, Editor The Business Travel Magazine

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ASAP is working hard to push the serviced apartment sector's cause IDENTITIES Getting to grips with the multitude of apartment styles APARTHOTELS Unravelling who offers what SPEND MANAGEMENT Making the most of long-stay accommodation OPERATING MODELS Different ownership, one goal THE FUTURE Forging partnerships and innovation NEW OPENINGS A plethora of exciting projects are coming online in 2018 SUPPLIER LISTINGS A selection of ASAP member agents and operators DATA The sector in numbers

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erviced apartments are the accommodation sector’s rising star, growing in number and presence worldwide, while more businesses are discovering the benefits they bring their organisations and employees. The number of apartments worldwide is nearing one million, according to the Global Serviced Apartments Industry Report 2016/17, and nearly 50% of corporate buyers polled have increased their use of apartments since the previous survey. With 190 members in 18 countries, ASAP – the Association of Serviced Apartment Providers – is growing in line with the industry and is also extending its influence, first in Europe, with the introduction of its first overseas chapter ASAP Netherlands in October, chaired by Peter Heule, CEO of Short Stay Group; and in December with the launch of the International Serviced Apartment Accreditation Programme (ISAAP) at the December conference. “We still believe that accreditation of serviced apartments to ensure certain standards is fuelling interest among businesses and promoting growth of the sector. The challenge we have now is to scale it up,” says ASAP’s chief executive James Foice. “We need that stamp of approval because competition is coming in quickly, especially with big brands like Residence Inn. If suppliers have not got something to prove their credentials, they will lose business,” he says. Cycas Hospitality, an operator of various extended stay properties in Europe, is a case in point. “Cycas itself does not need accreditation because the brands it runs are so well franchised and controlled, but the brands see the value of the industry being represented under one banner,” says Foice. Global accommodation manager for insurance company AIG, Jan Jacobsen, adds: “The accreditation is intended to give buyers confidence. All properties have to be vetted by ASAP or by an industry equivalent. There are problems with approval worldwide, although ISAAP is a step in the right direction.”

"We need a stamp of approval because competition is coming in quickly. If suppliers have not got something to prove their credentials they will lose business"

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Quality street Further assurance for buyers comes in the form of the new directive that all members have to be accredited. “It was voluntary at first but now that we have 190 members, they will all be accredited by December 2018,” says James Foice. Despite this progress, there is still a lack of understanding among corporate buyers of the advantages of serviced apartments for travellers, which include the freedom to cater for themselves, more space, a quieter environment and the ability to live as they do at home. Dual-branded properties add the option of eating on site. And the message is not getting through to all TMCs either. “A lot of corporate users want to book apartments but the larger firms need to go through their TMCs,” says senior partner account manager for SilverDoor Apartments, Kurtis Murphy. “If it’s a short stay, it is easier for a TMC to book what is on their GDS than try something new. That can be a challenge.” SilverDoor takes accreditation seriously. “ASAP has an important role in trying to introduce and drive industry standards and what it has already done with their accreditation programme has made huge strides,” he says. “It also means that we make every effort to view all our leading properties regularly so we can recommend apartments with total certainty; and we do stay in them – a lot.” ASAP’s next move is to work with organisations that capture guest opinion professionally.

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“Elements of our accreditation programme have always had an internet review bias. An assessor can experience one thing but if customers are saying something completely different, that rings alarm bells,” says James Foice. “We are now looking to endorse that element of the guest experience scientifically. There are many organisations that aggregate consumer opinion through TripAdvisor, booking. com, internet reviews and Google, to provide an impartial opinion and consumers will value that.”

Leading the pack The association also takes seriously its role as educator and recently ran a course to help operators make Chinese guests feel welcome, with suggested actions such as a few words of Chinese on a website, chopsticks and a rice cooker in kitchens or an app in Mandarin Chinese, like the one offered by The Knight Residence. And the newly formed Action Group is focusing on core areas such as HR and the ASAP Leadership Academy, which is running two leadership programmes in conjunction with Forward Learning. “We want to

position ourselves as a sector offering attractive career opportunities for young people,” says Foice. ASAP works closely with the BHA and collaborates with other organisations to support a single message from the hospitality industry concerning Brexit and further issues. “We need to ensure the sector is greater than the sum of its parts,” he says. But according to many suppliers, to achieve maturity the sector needs a higher profile. “The industry first needs to raise awareness. It is still small compared to the hotel industry and doesn’t pop up as one of the first options one might use when travelling; more communication is required,” says deputy CEO for Adagio, Karim Malak. Global reach and cohesion are also an issue. “There is a gap – like a 500lb gorilla straddling aparthotels and serviced apartments across Europe; there is no Marriott in our world,” says CEO of SACO, Stephen Hanton. “The aparthotel operators do not link into other business models such as corporate housing, serviced apartments or flexi stock, where TAS, SACO, BridgeStreet, Oakwood will all do that. No one does everything from a onenight stay to two years, nor spans all continents. There is still opportunity.” ASAP and its members have grasped the nettle and managed not only to raise standards in the industry but ensured that all parties aspire to maintain and continue those into 2018 and beyond. Pushing out its influence into the wider world is the next job. ↸

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One size certainly doesn't fit all – in the world of serviced apartments all requirements are catered for

erviced apartments, aparthotels, micro apartments, lifestyle apartments, corporate housing… the industry now has numerous models of accommodation, each with its own target market. These days, Wifi is a given, cleaning is generally weekly, and a welcome pack providing tea, coffee, snacks, cleaning items and bath products typical. To unmuddy the waters, GSAIR gave definitions in the 2015/16 report. It stated 'serviced apartments' was a generic term to embrace the sector. However, outside the US, corporate housing is generally referred to as serviced apartments, creating some confusion. Either way, they are residential properties with larger living spaces than aparthotels and have been upgraded to include services such as cleaning. They are fully furnished with entertainment services and broadband. “While serviced apartments can be useful for short-term trips and leisure stays, they are often the best option

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for long-term business trips or for relocating families,” says managing director EMEA for Oakwood Worldwide, Tom Meertens. Aparthotels have smaller apartments with a kitchen. There is typically a laundry and/or gym for public use and a large communal seating and dining area, with breakfast supplied and activities that range from hosted drinks through to quizzes, talks and more. Latest to arrive on the scene are micro apartments, with small sleeping spaces and a bathroom. This model has a large public area with communal kitchen to compensate – although there are those who would argue that apartments without kitchens are just hotel rooms. BridgeStreet’s Stüdyo in Paddington, London, falls into this bracket, with 9m2 bedrooms that will measure from 16m2 in further Stüdyos. BridgeStreet will also be running Stow-Away for Ciel Capital and Stow Projects, starting with a property in Lower Marsh, London, in 2018, constructed from shipping containers, with small bedrooms (21m2)

and a restaurant in the public area. Another Stow-Away will appear in Birmingham Central Hall in 2019, with bedrooms from 18m2. Other brands are going this way and a refurbishment of Citadines Barbican London introduced bedrooms without kitchens to complement those with, plus a lively public area that combines fresh seasonal food and drink from Sourced Market and a café that serves breakfast, lunch and a light evening meal. Citadines Islington (2019) will go the same way. A trial of communal kitchen for Adagio Access in Frankfurt this year has also proved to be a success. Ascott’s Lyf brand has studios without kitchens, two-bedroom apartments with, plus a communal area that hosts activities such as jewellery making and a scented candle workshop. Where other brands are targeting modern travellers, Lyf is unashamedly 'millennial'. Two are opening in China (2018) and one in Singapore (2021). Keyless entry and shared spaces are main features of the model and the

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hosts and landlords share revenues. This proliferation of apartment models is partly down to the blurring of boundaries between B2B and B2C consumers. “The B2B, corporately procured, mandated policy is completely unwound because Airbnb creates demand for something that isn’t a hotel, and because B2C has started penetrating B2B lines,” says CEO of SACO, Stephen Hanton. “Modern travellers are starting to emerge that are not in either camp. They might book through corporate channels but not behave in the same way. And although length of stay is shortening, there is still a lot of 30-night business but three-month stays are shifting into Airbnb-type offers,” he says. Organisations that used to relocate someone with their family now place employees on short-term projects and

these travellers book as individuals. “There is no rule for what constitutes a serviced apartment today,” says director of Cycas, John Wagner. “Just like hotels, we see all kinds of variation, depending on building, operator and location, but there is now something for everyone up and down the spectrum. The general rule of thumb is that you ‘stay at a hotel overnight’ but you ‘make yourself at home’ in a serviced apartment.” Location may also inform design, so a property near Silicon Roundabout in London might be very different to one close to a pharma hub in Cambridge. “Added value extras and different styles and levels of products are defined by the brand – but if a kitchen is featured inside, then this is a serviced apartment,” says managing director group commercial sales for The Apartment Service, Jo Layton. ↸

[ THE AIRBNB CONUNDRUM ] However uncomfortable the presence of Airbnb is to many buyers and suppliers, its influence is pervasive and incontrovertible. And now Airbnb has entered the corporate fray in partnership with Newgard Development Group to launch homesharing apartments in a 324-unit building in Kissimmee, Florida. Called Niido Powered by Airbnb, it will give residents the opportunity to share their units for up to 180 days a year through Airbnb. Tenants use an integrated app that allows them to check-in remotely and arrange cleaning and linen service via a MasterHost.

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in the city; when I stay in an aparthotel, I live in that city.” Personalisation is increasingly the name of the game: “Guests can bring items that make life comfortable, even a pet,” he says; or in the case of Staybridge Suites Vauxhall, borrow resident labradoodle Waggers for a friendly walk. And Adagio is refashioning properties to include an object library of eclectica inspired by guest requests or items they travel with, such as an oyster knife, rice cooker, vase, guitar, toy piano, seesaw and loud speakers. Adagio’s reinvention is centred around its BMG (Be My Guest) initiative, which emphasises guests’ desire for interaction with staff, something that came out of research among customers. An invitation to enjoy a French apéritif also allows guests to meet each other. “The design has been implemented in Adagio Edinburgh and is getting very good feedback. Occupancy is running at 30% above the initial forecast,”

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classes such as aparthotels and co-working spaces. Deputy CEO of Adagio, Karim Malak, says proof of the pudding is in the strong returns: “It [aparthotels] regularly gives 60% gross operating profit above hotels. From an economic standpoint, it works beautifully.” Although much has been written about their appeal to millennials – Ascott’s Lyf is designed and run by them – aparthotels are increasingly leaning towards lifestyle properties, taking in anyone who enjoys rubbing shoulders with fellow guests and wants to join a community while on the road. Aparthotels often also reflect their immediate environment and local culture. A recent refurbishment of Staybridge Suites Liverpool, for example, featured The Beatles and maritime references, underlining a close relationship with the city. The result is immersive. As an Ascott customer said to area manager Marc Sandfort: “When I stay in a hotel, I stay

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he rise and rise of aparthotels is exceeded only by the increasing diversity of the model. although the public areas have always lent themselves to activities – traditionally evening get-togethers hosted by the general manager – fun events nowadays range from Game of Thrones nights to jewellery making. As consumer demand increases, corporates have followed. “Travel managers are being asked for relevant alternative accommodation and aparthotels can often be the answer, as they offer something different along with the standardisation, security and distribution benefits that corporations need,” says sales director for SACO, Jo Redman. “In short, aparthotels are reducing the barriers that have traditionally slowed corporate adoption in the past.” In addition, supply has increased significantly as investors recognise the opportunity to take on new asset

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Marlin’s first aparthotel near Waterloo is testimony to the wide variety of guests the properties attract, ranging from families to individuals of all ages on business and on holiday, and the bar adds a lively dynamic by attracting locals. Occupancies have been close to 90%. “We have been blown away – for a launch that is unbelievable,” says managing director, Susan Cully.

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says Malak. Adagio Paris Bercy will be the first to emerge in the new concept in December. A warm welcome and a neighbourhood feel is the ethic in Cycas’s new South Point Suites – London Bridge, which opened in October 2017 with 101 units and reflects its Bermondsey location throughout. “We want to encourage people to live like a local. From the moment they step into reception they are treated more like a member of the family than a guest,” says John Wagner. In August, the company opened the UK’s first Residence Inn at London Bridge with 87 units and will be launching Residence Inn Kensington in 2018, Europe’s largest Residence Inn with 315 suites. Q Skyline is also jumping on the aparthotel bandwagon, with a first property in Copenhagen (2018) and two more in London; BridgeStreet’s Mode opens in Edinburgh and Paris next year; and Cotels’ first aparthotel opened in Milton Keynes in November, with Swiss balls, weights and yoga mats in each apartment and a relationship with local gym The Fitness Space. And Supercity has completed on a building in Manchester, its first outside London.

SACO’s Locke is a lifestyle brand that targets the modern, rather than millennial, traveller. “We are sacrificing the apartment size to focus on the communal areas. Events will become more prominent within aparthotels but the apartment will still be comfortable for stays of up to 30 nights,” says CEO Stephen Hanton. Eden Locke in Edinburgh hosted a DJ in the communal area in October, and in Cannon Street, London, a guest ran a cocktail-making session. Locke continues to evolve and Locke Manchester will have two restaurants and probably two bars. Further SACO brands are also on the cards, possibly embracing under one banner The Cannon and The Wittenberg in Amsterdam, which Hanton describes as, “an urban retreat; slightly more exclusive and less noisy with a much more high-touch customer experience because people are staying longer”. Average stay for The Cannon is 25 nights; 10 for Leman Locke. Public space is still important and in The Wittenberg, philosophy lectures, talks from people at the local business

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school and a lunch club for spouses are potential options. Go Native’s recent acquisition of an aparthotel in Maida Vale, London, highlighted demand for a three-star property. “We will close it next year for redevelopment but, meanwhile, we are running it as a three-star apartment block. We got high occupancy by pushing it out through OTAs but it also got corporate interest,” says marketing and customer experience director, Amanda Metcalfe. “This suggests there is scope for us to have a two-tier brand.” A low-cost option is attractive to organisations that have quoted for a project and are then bound by that budget. Go Native launches its larger aparthotels with the opening of Empire Warehouse Bankside in 2018, where emphasis on the neighbourhood is

reflected in the name, a gift in the fridge from a local brewery and coffee from Monmouth Coffee Shop in Borough Market. The Manchester property (Q4, 2018) follows this model with barber, florist, destination bar and possibly local F&B operator; and similarly, The Anchorline, Glasgow (Q3). “Each property will be true to the nature of the brand,” says Metcalfe. The UK and the rest of Europe is starting to wave the aparthotel flag and while international hotel groups such as IHG and Hyatt are following a model well established in the US, players such as Adagio, Lyf and Go Native are putting a creative spin on extended stay. Micro-apartments squeeze footage still further, taking out kitchens in apartments and providing a communal alternative. And there is more to come; aparthotels are not standing still. ↸

"We want to encourage people to live like a local. From the moment they step into reception they are treated more like a member of the family than a guest"

Our job is not over until we get a smile.

Cycas Hospitality is a hotel management company specialising in extended-stay hotels. Managing over 1,300 suites and rooms in key city centre locations in the UK and Europe.

London - Stratford City

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London Bridge

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Our first-class guest experience is delivered by our proactive and intuitive staff who follow the mantra ‘our job is not over until we get a smile’, the backbone of Cycas Hospitality success.

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s serviced apartments continue to evolve, the model becomes more flexible. Where once they were available only for stays of a minimum of 90 days, now many can be booked for just one night, and it is worth taking the time to understand who is offering what and how they can be booked. “Survey and analyse your lengths of stay to see what accommodation types would enhance the choices,” advises Q Skyline’s Lorna Keen. “Providing travellers with options and asking them to try out something new and then to share their experience with the

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community, can help to encourage change. This will lead to a longer-term cost reduction and enhance the traveller’s experience.” There are also ways to use serviced apartments to ensure best value, including using studios, opting for a secondary location and asking travellers to share with colleagues. Millennials now joining the workplace have been brought up with a much more relaxed attitude and are more open to the idea of sharing. Consulting giant PwC says it has seen an increased demand for apartments because they are a better fit for staff staying away from home for a long

period, and are more cost effective than a hotel. Sam van Leeuwen, the firm's head of hotels and venues programme, says PwC has begun switching to two-bedroomed apartments for bigger projects, with staff benefitting from companionship and the company saving money. “In Greenwich we even have three-bed apartments,” she says. “That is one of the changes over the past few years. Some of the more

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junior staff, graduates, are used to sharing and as long as apartments have a bedroom with bathroom, we are happy with that,” she says. “It is very cost effective for us to use them to deliver a project and cost-effective for the client as well.”

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Van Leeuwen does not foresee any change of approach because of Brexit but, “If anything, it is about different cost models. It all has to fit a project and client budget; it is a very cost focused environment.” This echoes Amanda Metcalfe’s comment about organisations being tied to a budget and having to find accommodation that fits the bill – in any sense. In addition two- or three-bed apartments can work for colleagues who want to work and eat together. For example, if they have been relocated and want to live with people who speak their mother tongue or cook and eat the same food. A full service hotel will always be higher in pricing, regardless of size. “A lot of the serviced apartments say you get all this space but it is a selfcatering option. For me it’s not about the size of the apartment, it is about the soft services that are on top or taken off. “I want the flexibility and freedom of a serviced

apartment unit,” says AIG’s global accommodation manager, Jan Jacobsen. “They don’t have the service element, except for housekeeping once a week, and anything else you pay for. In a hotel, you get 2.6 staff members per guest room and you pay more. The apartment world has to sit below the hotel world and my saving in the apartment world is significant, up to 47%,” he says. Jacobsen also includes the home rental sector in his inventory and uses products such as onefinestay by Accor, Veeve (Wyndham) and Oasis (Hyatt), which ensures they are professionally managed. “We are exploring options at the moment to enhance that further,” he says. A good example of serviced apartments that lend themselves to corporate use of a secondary location are Portfolio Apartments’ stock in Hatfield, Welwyn Garden City and Stevenage, all on the A1M corridor and just 25 minutes from London King’s Cross. The company has 20 units, has only corporate business and is surrounded by major organisations such as gsk,

[ BENEFITS ALL ROUND ] Secretary at Vanderlande, Kerry Redman books accommodation at Staybridge Suites Liverpool. “A serviced apartment is a logical choice when looking for extended stay accommodation as it benefits all parties,” she says. “From a travel manager’s perspective, serviced apartments are cost effective for longer stays, being VAT exempt when a guest is staying over 28 consecutive days. “And for our employees, they love the fact that there is more space than an ordinary hotel room; they don’t have to come in and sit on their bed all evening, they can drink a coffee in the kitchen, watch TV on the sofa or head downstairs to the communal area for a beer with colleagues. It’s a much more homely and inviting atmosphere – and the novelty of a hotel quickly wears thin, as anyone who travels often for work can attest.”

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Tesco, Roche, ee, Airbus, Mitsubishi, ICT and more. “We have been looking after a lot of Tesco’s Oracle contractors, who have been working on site since last year,” says managing director of Portfolio, Carly Fitzpatrick. “We beat the local hotels all the time because their prices are on a par with London. They can get away with that because they have 95% occupancy Monday to Thursday.” UBS mandates that travellers staying away for five nights use serviced apartments where the bank has a negotiated programme – in London, Zurich and Krakow – unless hotels are cheaper. “If they book into a different destination that doesn’t apply because we won’t have negotiated rates so the price might not be as competitive as hotels,” says group corporate services, global travel manager, Kevin Carr.

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The bank books 10,000 nights in serviced apartments per year and saves some £50 per night, plus F&B and laundry savings. The numbers speak for themselves. Travel manager of Matalan, Amanda Worthington, currently buys 240 nights in Staybridge Suites at around £100 a night. Matalan operates on billback and because the company books a lot of IHG properties, the Staybridge Suites inventory goes through the normal payment processes and can be booked through HRS. Sometimes savings are not the only driver. “We don’t do this as a saving, it’s more for the facilities and space,” she says. Apartments can give serious savings over hotel rates but it requires time and patience to work out which model best suits your needs. That said, the effort repays buyers in spades. ↸

"Apartments can give serious savings over hotel rates but it requires time and patience to work out which model best suits your needs. That said, the effort repays buyers in spades"

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perating models in the serviced apartments sector have long been a bone of contention, although an understanding of operators, agencies and hybrids grows as more companies add apartments to their corporate accommodation programmes. Operators own and sell their bricks and mortar and are increasingly rare birds, as they spread their wings and sell inventory in areas where they can’t or don’t own property. An example of this is Cheval Residences, which owns its UK portfolio but was forced to set up a partnership with Qatar Industry Manufacturing Corporation to open in Doha since foreign ownership is not permitted. Cheval will manage the resulting 350key, four-star aparthotel under contract. “We would also consider acting as an operator for properties that reflect our brand standards to look after customers in areas where we are not represented,” says director George Westwell.

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This would fall into the hybrid model, where owner/operators are also acting as agents for other companies’ stock. But honesty is not always seen as the best policy. “If suppliers do not have inventory in a destination but say they will look after you anyway, most of them do not tell buyers it is not their inventory,” says global accommodation manager for AIG, Jan Jacobsen. “In the hotel world that would never happen. Unfortunately – possibly due to lack of time – buyers have allowed it. They should ask more questions. “An apartment management model, as we have, is better controlled: the service providers and the quality of service you receive meet the standards you expect, and the commercial relationship ensures the cost of the transactions falls within agreed parameters.” TAS manages AIG’s apartment programme, mirroring what AIG has in the hotel world with a TMC, and built a booking portal for the company, precluding the need to go through

expensive intermediaries. TAS Alliance fills gaps in TAS’s portfolio, of which Jacobsen says: “I don’t use TAS Alliance as my primary source but that is something I think is missing in the serviced apartments world because suppliers protect their inventory.”

Spreading the word In February this year, BridgeStreet launched its much vaunted OTA, aimed at the corporate market. This pulls together more than 90,000 properties worldwide and makes them available to corporate buyers via GDS, using customised portals that ensure travellers stick to company policy. SACO is investigating microsites to drive direct business. “We have done that with Leman Locke and more than doubled bookings from it,” says Stephen Hanton. The Wittenberg follows. Next on the agenda are platforms that talk to non-European markets such as China’s CTrip. “We want to build

11/17/17 03:35 PM


FLYING BUTLER

"SITU has introduced locked-in, long-lead prices on overseas apartments, enabling clients to budget more confidently"

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technology that understands the customer better,” says Hanton. Go Native has proprietary technology and does not offer long-term bookings online. “Corporates are interested in having us integrated into the tools they already have,” says director of sales and distribution, Paula Cullen. It is looking at changes that allow corporate clients to be identified on its website and is testing a chat facility. GDS has worked well for Go Native, whose bookings have grown by more than 50%, if from a low base; and from here, the company plans to work with the GTMC and TMCs, “to ensure their staff are comfortable with our product so that it is offered alongside traditional accommodation,” she says. Adagio piggybacks on hotel tech from Accor. “But we are not seeing a lot of PMS systems or client interfaces that are particularly well adapted to extended stay,” says Karim Malak. Cotels uses online and offline tools, including OTAs, relationships via a sales director and, “We keep in regular contact with agents such as SilverDoor and The Apartment Network,” says managing director Marcia Gómez. Supercity Aparthotels is revamping its website, with updates to include more content and increased maximum length of stay bookable from 30 to 89 nights. The new site will be launched with a rebrand in 2018. Meanwhile, Supercity’s central reservations department went live in September. “We are moving bookings away from the sites so that reception teams can concentrate on personalising the stay for the guest,” says managing director Dean Madge.

Martin Klima. “When you only have a few units, you don’t have the luxury of blocking off availability to help juggle an offline and online GDS-based approach.” SilverDoor is about to relaunch Orbital Partnership. “It will be a game changer,” says senior partner account manager, Kurtis Murphy. “It will allow some operators to refer business they cannot accommodate to other members of the partnership, while retaining their relationship with the client.” SITU, meanwhile, has introduced locked-in, long-lead prices on overseas apartments, enabling clients to budget more confidently. Phil Stapleton, SITU Managing Director, says: “A typical transaction for us could involve a customer in New York deciding in June that they want to book an apartment in Paris in September. We will quote a price in June, but that could be subject to fluctuations in the exchange rate in the interim period. “While we’d always look to absorb this cost, there comes a point where it has to be passed on. By working with Frontierpay to lock in the exchange rate in advance, that risk is removed. This means customers are guaranteed the price they are quoted.” Booking technology in the sector has long been a problem for buyers. Thankfully, suppliers are getting closer to providing all the information buyers require in one place, along with the technology that allows them to book online, either on proprietary websites or through clients’ booking tools. ↸

Easy sell

OAKWOOD

“Many operators have limited stock which is managed too intricately to be distributed online. It needs to be managed manually to allow the flexibility to take long-term, quality bookings, as opposed to a high volume of short-term bookings which you’re more likely to receive online,” says head account manager for SilverDoor Apartments,

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Feel at home, with hotel services Free and Fast Wi-Fi

100 APARTHOTELS 12’000 APARTMENTS WORLDWIDE Apartments with fully equipped kitchen Free & fast Wi-Fi The longer you stay, the less you pay Ideal city centre locations BOOK NOW ON

adagio-city.com Untitled-2 1 Untitled-9

14/11/2017 16:38 11/16/17 05:01 PM


L C H EV A

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World

ORDER

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Serviced apartment developers are taking a partnership approach to innovation and new openings

he serviced apartment market is still small compared to the global supply of accommodation, but as suppliers take on new inventory in cities as distant as Sao Paulo and Southampton, it is apparent that the model works anywhere. To facilitate this growth, new business types are coming into play. Cheval Residences has traditionally owned its apartment buildings in London but has a management contract on its forthcoming Qatar property and is looking at others. BridgeStreet has a management contract on the forthcoming Stow-Away near London’s Waterloo and, “We are looking at franchised and managed operation models to help develop our brands; financially it makes sense,” says managing director EMEA and APAC, Steve Burns. Ascott is also considering this route: “In Europe we are predominantly an owner-operator because real estate value is stable but we have just started

T

"The demand is there. People love to try something new and the big companies are trying to develop brands to meet that need"

a franchise agreement in France and are looking at agreements in Brazil. In the Gulf, where as a foreign company we cannot own property, we will have more management contracts, and the same in Asia,” says area manager, Marc Sandfort. This flexibility will help suppliers set up easily to fill gaps in locations, notably in Liverpool, Leeds, York, Brighton, Bournemouth and Oxford. Supply is also lacking in London, something Urban Stay hopes to help address with a planned expansion from 62 to 100 apartments by the end of 2018. And increasing emphasis on customer experience means there will be investment in anything that facilitates that – creativity, technology and staff in particular, with continued emphasis on safety and security. “Developers and designers are coming up with an ever more diverse selection of accommodation types to provide a

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TH E FU TU

Shared ambition Oakwood predicts a growth in alliances and partnerships between suppliers in response to economies of scale and an increase in businesses sending employees on international assignments. “As millennials enter and lead the workforce, research shows that more expect an overseas placement at some point during their career,” says Tom Meertens, referring to the PwC Global Mobility Report 2020. And demand will continue to grow: “In EMEA during

Next Generation.indd 23

2016, we saw a 19% increase in move-ins compared to the previous year and we expect this trend to continue,” he says. Dual-branded properties will also proliferate. “For the investor/hotelier, one of the main attractions is the potential to utilise land more efficiently,” says Cycas’s John Wagner. “Where it may not be viable to have one 400room hotel, two 200-room hotels of different brands and varying in price is much more feasible in terms of filling rooms. And the guest benefits from a choice of two brands and a range of shared amenities that are often of a higher standard due to the costeffective nature of being able to share.” If growth in inventory is matched by growth in demand, the sector will be hard pressed to stay ahead of the game. Interesting times. ↸

BRIDGESTREET

RE

fusion between home, hotel, apartment, warehouse, retreat and loft styles,” says head of corporate sales & relationships EMEA and APAC for Q Skyline, Lorna Keen. “The demand is there. People love to try something new and the big companies are trying to develop brands to meet that need.”

11/17/17 01:47 PM


IO D A G

n adi it

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Open for

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business Investment across the UK and Europe underlines the strength of the buoyant apartment sector

f there is one sign of the continuing growth of the serviced apartment sector, it is the number of openings taking place over the next few years. Some of these are in areas where there is considerable investment, like Manchester, which is being transformed to the tune of billions of pounds. The city's airport is benefiting from a £1billion project and the University is spending £1billion on the campus, which will include the opening of a 116-room Staybridge Suites property. And then there's Corridor Manchester, an innovation district of 243 hectares that connects the city centre and surrounding neighbourhoods. Not surprisingly, all this activity has attracted blue chip organisations such as the BBC, RBS and Deloitte. In nearby Liverpool, Australia-based Quest Apartment Hotels has signed its first UK location – a £10million scheme in the city centre, due to open in 2019. Edinburgh is one of the fastest growing and productive cities in the

I

UK, and a £500million urban quarter is planned for 43 acres of land south of Edinburgh Park to be undertaken by property developer Parabola. Amsterdam is another centre of attention, with Eurostar’s service from St. Pancras to the Dutch city coming on line at the end of the year. The city is strong in financial and business services, IT, media, the creative sector, higher education and logistics and has proven its appeal as a start-up hub. “The Dutch seem to value interaction and welcome the opportunity to engage with foreigners,” says director of Cycas, John Wagner, who moved there three years ago. “One of the ways they make you feel welcome is their willingness and ability to speak English. I never cease to be amazed at the universal skill of the average Dutch person to speak English – in restaurants, shops, public transport... even street sweepers.” The following list is an indication of serviced apartments opening across the UK in 2018. ↸

[ 2018 OPENINGS ] Go Native Bankside London, Manchester & Glasgow • Stow-Away Waterloo, London • Residence Inn, Kensington, London • Supercity, Chancery Lane London & Brighton Queen Square • Staycity Covent Garden • SACO Aparthotel Moorgate, London • Adagio, Stratford, London • SACO Whitworth Locke, Manchester • Staybridge Suites, Manchester • BridgeStreet Mode Queen Street Edinburgh & Arc de Triomphe Paris • Cotels 7Zero1, Milton Keynes • Residence Inn/Moxy, Amsterdam • Yays, Antwerp & Paris • Q Skyline, London Canary Wharf & Copenhagen • Adagio, Nanterre & Montpellier, France, and Bremen, Germany • Room 2 by Lamington, Southampton • Ascott, Citadines Islington London • Living by BridgeStreet, Leinster Square, London • The Edinburgh Grand, Lateral City Apartments • Fraser Suites, Hamburg

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SACO’s first property outside the UK opened in December 2017. Features 115 apartments set in a restored 18th century building

Staybridge Suites, manchester

Opening in 2018 alongside a Crowne Plaza hotel, the property has 116 studio and one-bed suites and features free wifi throughout

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saco wittenberg, amsterdam

wilde by staycity, london

Staycity ventures into the premium market with its Wilde brand – 106 studio apartments open on The Strand in spring 2018

marlin waterloo, London

Serviced apartment owner Merlin has opened is first aparthotel. It has 236 rooms, a gym, laundry and flexible meetings space

citysuites, manchester

Opened in 2017, there are 237 apartments in a 17-storey block. A gym, pool, parking and Sky TV all feature

New Openings.indd 25

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Quality

ASSURED Find out more about the operators and agents who are members of the ASAP and have supported The 2018 Guide to Serviced Apartments

ALLSTAY SERVICED APARTMENTS

THE APARTMENT SERVICE

ARLINGTON HOUSE APARTMENTS

allstay.co.uk +44 (0)203 465 9100

apartmentservice.com +44 (0)20 8944 1444

arlingtonhouse.co.uk +44 (0)20 7629 0021

Allstay Apartments provides a professional accommodation finding service throughout the UK and Europe with access to thousands of apartments.

One agency with seven global offices, perfectly placed to provide comprehensive and connected serviced apartment programmes across the globe.

Arlington House, London, offers serviced residences in a leafy environment in the very heart of the exclusive and lively Mayfair, St James’s area.

London Accommodation Specialists

THE ASCOTT LIMITED the-ascott.com +44 (0)20 3119 3405 One of the leading international serviced residence owneroperators with more than 500 properties in 120+ cities across more than 30 countries.

BRIDGESTREET GLOBAL HOSPITALITY bridgestreet.com +44 (0)20 7792 2222 The leader in serviced apartments, offering 90,000 accommodation choices in 60+ global markets.

CHECK-IN-LONDON

CITY APARTMENTS LTD

check-in-london.com +44 (0)203 189 1269

cityaparts.com +44 (0)20 7726 2626

Our accommodation experts are a tailor-made and hasslefree solution for apartments, aparthotels and short-term lets in London and the UK.

The City of London specialists. With 200 serviced apartments exclusively for business travellers. Our ethos is simple: to exceed expectations!

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SU PP LI ER LI ST IN GS

COTELS SERVICED APARTMENTS

CRAVEN HOUSE

CYCAS HOSPITALITY

FRASERS HOSPITALITY

cotels.co.uk +44 (0)1908 308310

cravenhouse.net +44 (0)7747 073269

cycashospitality.com emma@cycashospitality.com

frasershospitality.com +44 (0)20 7341 5599

Established regional operator and management company with 80+ serviced apartments located in Milton Keynes, Northampton & Luton.

Spacious, serviced apartments offering the very best in quality, elegance and customer service. Located in Hampton Court and Claygate, Surrey.

A hotel management company specialising in extended-stay hotels. Managing 1,300+ suites and rooms in key city centre locations in the UK and Europe.

A leading provider of premium serviced apartments, hotel residences and boutique hotels with 139 properties across 80 gateway cities worldwide.

GO NATIVE

THE HARRINGTON COLLECTION

HOUSE OF FISHER

MANSLEY SERVICED APARTMENTS

gonative.com +44 (0)20 7311 1771

theharrington.com +44 (0)20 7341 5800

houseoffisher.com +44 (0)1189 514151

bymansley.com 0800 304 7160

One of the largest operators in the UK, working with leading designers to create beautifully designed, city centre buildings with distinct personalities.

The Harrington Collection offers exclusive serviced apartments and residences in the heart of South Kensington, London.

Market leading owner-operator with 20 years’ experience and 200 Thames Valley apartments, delivering 24/7 support, Sky TV and complimentary Wi-Fi.

Apartments and Suites with style and character. Five outstanding locations including London, Cheltenham, Edinburgh and Inverness.

MARLIN

MELIÁ WHITE HOUSE APARTMENTS

OAKWOOD WORLDWIDE

PABS SERVICED APARTMENTS LTD

marlin.com +44 (0)20 7378 4840

apartment.mwh@melia.com +44 (0)20 7391 3063

oakwoodworldwide.com +44 (0)207 749 4460

pabs.ch +41 44 491 41 16

The largest owner-operator of apartments in London with 900+ units across 7 locations. 24/7 concierges, complimentary Wi-Fi and fully fitted kitchens.

Meliá White House Apartments, 112 rooms in three categories. Fully serviced plus an array of hotel services. Located near Regent’s Park, central London.

Premier provider of serviced apartments, delivering customised furnished accommodation solutions with exceptional service.

Leading cost-benefit oriented furnished apartments in central Zürich. Great comfort at very fair rates. Full apartment search on pabs.ch.

PORTFOLIO

PRAGUE CITY APARTMENTS

PREMIER SUITES

PRESTIGE APARTMENTS

portfolio-apartments.co.uk +44 (0)1438 791 031

prague-city-apartments.cz +420 224 990 990

premiersuites.eu +44 (0)151 2279467

prestigeapartments.co.uk +44 (0)20 7603 7629

Hertfordshire's luxury serviced apartment provider operating in Hatfield, Welwyn Garden City and Stevenage, for the discerning corporate traveller.

Stay days or months in central locations with staff available 24/7. The first and currently only ASAP-accredited provider in the Czech Republic.

A wonderful alternative to traditional hotel accommodation with a choice of 14 locations across continental Europe, Ireland and the UK.

Award-winning customer service, friendly attitude and the highest levels of service, providing access to over 700 apartment locations UK-wide.

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ROOM 2

ROOMSPACE

SACO

SHORT LET SPACE

room2.com +44 (0)20 8748 2645

roomspace.com +44 (0)20 8944 3662

sacoapartments.com 0330 202 0505

shortletspaceservicedapartments.co.uk +44 (0)1993 222 200

Design-led apart-hotels, with a focus on comfort. Created for work and relaxation. Opening in Southampton in 2018. Rooms from £89pn.

More than 450 apartments in key locations across the UK, Spain and Portugal. Locations added in 2017 include Canning Town, Camberley and Ilford.

Opening the door to 80,000 apartments worldwide. Offering everything from stylish aparthotels to spacious serviced apartments.

Serviced apartments and furnished short stay options in Oxford, Leamington Spa and the M40 corridor.

SHORTSTAY MK SERVICED APARTMENTS AND HOUSES

SILVERDOOR APARTMENTS

SITU

STAYCITY APARTHOTELS

silverdoorapartments.com +44 (0)20 8090 8090

situ.co.uk +44 (0)1392 690079

staycity.com +44 (0)20 3499 0748

The world's leading provider of serviced apartments for business travel. Our expert team make booking corporate accommodation simple.

More than serviced apartment providers, we deliver a worldclass booking service and provide access to a huge list of curated properties globally.

A leading European aparthotel operator with over 3,000 units in the UK, Ireland & France – the ideal solution for both business and leisure travellers.

STAYING COOL AT THE ROTUNDA

SUPERCITY APARTHOTELS

stayingcool.com +44 (0)121 285 1250

supercityuk.com +44 (0)20 3818 9070

Stylish four and five-star serviced apartments based in Birmingham’s iconic Rotunda. Staying Cool is also opening in Manchester in spring 2019.

Independent aparthotels in central London locations. Personalised and flexible service, great beds, fab showers and complimentary Wi-Fi.

WEEK2WEEK SERVICED APARTMENTS

YAYS

shortstay-mk.co.uk +44 (0)1908 540636 From stylish studios to seven-bedroom houses, for clients seeking superb quality, efficiency and amenities.

ASAP, the Association of Serviced Apartment Providers, is a not-for-profit organisation dedicated to promoting the serviced apartment industry. Its 190 members represent over 100,000 serviced apartments

globally and account for some three million bed nights per year. It operates a Quality Accreditation scheme and an annual convention and awards ceremony among a host of other activities. theasap.org.uk

week2week.co.uk +44 (0)191 2813129 Newcastle upon Tyne-based Week2Week provides the luxury of a hotel suite and all the amenities of your own home.

yays.com y.blomjous@yays.com Beautiful apartments in the most charming neighbourhoods of Amsterdam, giving guests the opportunity to discover what it’s like to live like a local.

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Save the date 11-12 September 2018

ďˆ The event for buyers and arrangers of business travel and meetings Hilton London Bankside, Southwark

To register for FREE, visit thebusinesstravelconference.com To book a stand please contact Kirsty.Hicks@bmipublishing.co.uk

TBTC Advert.indd 1

11/17/17 03:06 PM


Numbers

UP

The serviced apartment sector just keeps on growing...

Data courtesy of data and analytics specialist STR

[

Industry performance Jan–Sep 2017

united kingdom Regional UK Greater London

ur UK serviced apartment sector has performed well in 2017,” says James Foice, CEO of ASAP. “As the STR data confirms, London has achieved a 12.4% increase in ADR at £203.05 – and an overall occupancy of 84.5%, up to 30 September 2017 –

[

Occupancy

Change

Average daily rate

Change

82.1 %

+1.1 %

£150.31

+6.3 %

79.8 %

–1.7 %

£94.42

+1.6 %

84.5 %

+4 %

£203.05

+12.4 %

although there are signs that demand is softening in the final quarter in view of the significant increase in supply. “For the UK overall the occupancy performance is 82.1% – a more modest +1.1% increase on last year, with the ADR at £150.31. This reflects the increase in supply in key cities in the rest of the UK

O

]

such as Manchester, Birmingham and Liverpool. “It’s hugely exciting to see so much expansion in the sector with a +17% increase in new stock planned by 2020 for the UK and Ireland which represents 3,677 new serviced apartments in 47 properties.” ↸

Price comparison – apartments versus hotels around the UK Total stay cost

]

Rate per night

London – The City 1 Bed Serviced Apartment 2 Bed Serviced Apartment Hotel

1 night

7 nights

30 nights

90 nights

1 - 6 nights

7 - 27 nights

28 - 89 nights

90+ nights

£150.00

£980.00

£3,900.00

£11,250.00

£150.00

£140.00

£130.00

£125.00

£195.00

£1,260.00

£5,100.00

£14,850.00

£195.00

£180.00

£170.00

£165.00

£139.00

£973.00

£4,170.00

£12,510.00

£139.00

£139.00

£139.00

£139.00

Canary Wharf 1 Bed Serviced Apartment 2 Bed Serviced Apartment Hotel

1 night

7 nights

30 nights

90 nights

4 - 6 nights

7 - 27 nights

28 - 89 nights

90+ nights

£140.00

£910.00

£3,750.00

£10,800.00

£140.00

£130.00

£125.00

£120.00

£190.00

£1,225.00

£5,100.00

£13,950.00

£190.00

£175.00

£170.00

£155.00

£139.00

£973.00

£4,170.00

£12,510.00

£139.00

£139.00

£139.00

£139.00

Manchester 1 Bed Serviced Apartment 2 Bed Serviced Apartment Hotel

1 night

7 nights

30 nights

90 nights

4 - 6 nights

7 - 27 nights

28 - 89 nights

90+ nights

£90.00

£560.00

£2,250.00

£6,300.00

£90.00

£80.00

£75.00

£70.00

£130.00

£875.00

£3,600.00

£10,350.00

£130.00

£125.00

£120.00

£115.00

£86.00

£602.00

£2,580.00

£7,740.00

£86.00

£86.00

£86.00

£86.00

Edinburgh 1 Bed Serviced Apartment 2 Bed Serviced Apartment Hotel

1 night

7 nights

30 nights

90 nights

4 - 6 nights

7 - 27 nights

28 - 89 nights

90+ nights

£100.00

£630.00

£2,550.00

£7,200.00

£100.00

£90.00

£85.00

£80.00

£160.00

£1,050.00

£4,200.00

£11,700.00

£160.00

£150.00

£140.00

£130.00

£105.00

£735.00

£3,150.00

£9,450.00

£105.00

£105.00

£105.00

£105.00

Data kindly supplied by SilverDoor

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One agency, 7 global offices

New York London Lisbon Madrid Barcelona Frankfurt Singapore 826,000 serviced apartments in more than 160 countries The Apartment Service is perfectly placed to provide the most comprehensive, connected, serviced apartment programmes across the globe We are renowned for successfully handling some of the most challenging accommodation needs, in order to understand how we can help handle yours, contact our experienced teams in any of our seven offices, we are ready to take your call +44 (0) 20 8944 3612 info@apartmentservice.com

www.apartmentservice.com

Untitled-9 1

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Serviced Apartments 2018  

Your 2018 guide to the serviced apartment industry, from ASAP and The Business Travel Magazine