Figures just released from the Association of Serviced Apartment Providers (ASAP) confirm that occupancy for the first quarter of 2010 is showing an encouraging increase on last year.
The average overall occupancy for London was 85%, which represents a 4% increase on the first quarter of 2009. For the rest of the UK average occupancy for Quarter 1 shows a 5% increase on 2009 with average occupancy being 73%.
The average net weekly rental for London – at £778 - was very slightly down (2.4%) on 2009 but encouragingly for the rest of the UK the average net weekly rental was £558 or 9% up on 2009.
Membership of the Association is growing steadily and now totals 36 members who collectively represent almost 6,000 apartments in every major UK city – including London, Birmingham, Manchester, Liverpool, Newcastle, Edinburgh, and Cardiff.
As a result of this stronger membership base the Association has put together an exhibition programme for the very first time in 2010. Nine members took part in the ASAP Village at the Business Travel Show 9/10 February so visitors could have direct exposure to the members who provide apartments to the major UK corporations as well as through agency intermediaries. Exhibitor members confirmed it had been extremely valuable to talk face to face to potential new clients about the benefits of using serviced apartments and excellent new business was negotiated at the event. In recognition of this success the ASAP is now an Association Partner for the 2011 Business Travel & Meetings Show (8/9 February 2011).
The Association will also be represented by 4 members at the Business Travel Market 16/17 June at London’s ExCel.
The apartment sector in the UK has now become a preferred choice for extended stays and short-term assignments in what is now globally a $18.5 billion industry.
Further information online – www.theasap.org.uk
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Reader Comments:
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Great News - Hows 2011
This is great news for city apartment owners. I think the best of the bunch will shine whilst the ones that don’t invest in their properties will suffer, and quite rightly too. I know the Edinburgh scene quite well due to me working with the Ramada Jarvis Princes Street Hotel on numerous occasions. When you start working in the tourism industry you get to know people. I have met a few serviced apartment owners over the last two years, most have been great people who look after their investment whilst on the other hand I have met one or two others that seem to think the best way forward is to smash and grab what revenue they can get their hands on without reinvesting. They will suffer! 2011-03-29 Gavin Boyd |
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