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Spend on serviced apartments up 25% says leading TMC

Redfern is a leading UK travel management company providing business travel to a wide range of public and private sector clients

Home from home apartments lure Business Travellers 

British businesses are exploring a new approach to business travel with an increasing number turning to serviced apartments says top travel management company Redfern.
Redfern, which provides travel booking services to the government, a raft of public sector bodies and some of the UK’s best-known companies, reports spend on serviced apartments has increased by 25 per cent between Jan-Sep 2016 (based on the same period last year).

Figures also reveal that the number of room nights booked in serviced apartments during that period have increased by 33%, indicating Redfern customers are getting more value from their increased spend.

Apartments now account for 12 per cent of all overnight rooms in London and Redfern is predicting further growth in this market. “Temporary relocation of employees is becoming increasingly common practice and we’re seeing longer stays and increased spend in the serviced apartment sector,” said Kate Wimpeney, Redfern’s Business Development Director.

“The growth is being driven by employers seeking good value and a “home from home” experience for their employees.

“We’re seeing a step-change in the sector, with big name hotel brands exploring ways to enter this growing market. The whole uplift is driving cost savings for our customers which is excellent news.”

This trend for choosing serviced apartments was backed up at this year’s Serviced Apartment Summit in London, with data specialists STR stating that UK occupancy for serviced apartments was 77.9%, compared to 72.4% for hotels.

The average nightly rate of a serviced apartment has dropped £10 to £79 across the UK and the average stay has increased from 3.2 nights to 4 nights this year.

“One of the major benefits of serviced apartments is the ability to self-cater. This can make staying away from home easier and less stressful,” added Kate Wimpeney.

“Businesses and organisations from both the private and public sector are embracing serviced apartments, particularly for extended stays or repetitious weekly bookings.

“Our customers want to know their staff are comfortable, safe and happy. Beyond that there are financial benefits for our customers because average room rates are cheaper in the serviced accommodation sector.”

Redfern offers a total travel management solution, including serviced apartments, through its innovative tRIPS booking tool.

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