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Serviced apartment boom as SACO sees 2014 revenues soar

Business travellers choosing serviced apartments over traditional hotels have fuelled a 21% revenue increase for The Serviced Apartment Company (SACO) according to figures released today.
The UK-based company, which provides modern and flexible serviced apartments in 220 destinations around the world, saw corporate bookings rise 15% during the 2014 financial year.

A surge in online bookings has helped to boost uptake of serviced apartments, with online reservations rising 41% over the past year.

Ben Harper, Sales Director, SACO, said: “The popularity of serviced apartments continues to grow, and today’s savvy business travellers are embracing the flexibility and freedom that come with having a whole apartment to live in – without sacrificing the reliability of a globally-recognised brand.

“However, the important thing from a long term perspective is that when people trial a serviced apartment, we’re exceeding expectations. Our satisfaction levels are up 3% on last year, with 94% of visitors rating their stay as excellent or above. It is this consistency and quality that is driving repeat bookings and establishing SACO as a major player in global hospitality.”

The results released by SACO also highlight the huge growth potential in consumer bookings, having seen an increase of 260% over the past year.

In the past year, SACO has increased its global presence to 52 countries, with the total number of apartments it offers passing the 30,000 mark for the first time.  In the UK, SACO grew its London footprint by 25%, expanding its total UK portfolio by 13%.

The company has released the 2014 financial results ahead of the Business Travel Show (London, 25-26 February), where the company will unveil fresh research on the latest trends in business travel.

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