Director John Neil commented: “We are delighted to win this award, particularly as the World Travel Awards are predominantly voted for by travel and tourism professionals worldwide in addition to those familiar with our brand, and this accolade recognises the hard work and commitment to excellence our team at Fountain Court strive for.”
This year Fountain Court opened its eighth property in Edinburgh’s city centre, Braid Apartments, bringing the total number of serviced apartments which it is operating in Edinburgh to 230, accounting for over 20% of the capital’s apartment sector.
John Neil said: “The serviced apartment sector has experienced significant growth over recent years and is one of the fastest growing areas in the UK hospitality industry, currently with a market share of 3.1% of the UK’s accommodation sector, and 7% in Edinburgh. In particular, there has been a noted increase in demand from the corporate sector with business travellers leaving the hotel environment and turning to serviced apartments to benefit from a more relaxed ‘at home’ place to stay, especially on longer trips. Leisure travellers, too, have discovered that apartments offer much more in terms of space, flexibility and cost-effectiveness compared to hotel rooms.”
According to a Savills’ report* on the UK extended stay market (also known as serviced apartments), produced in conjunction with the Association of Serviced Apartment Providers (ASAP), this sector is currently a relatively small part of the UK accommodation market, but increased consumer and investor awareness means that over the next two years the sector will be the fastest growing segment of the UK hospitality market.
Extended stay purpose-built supply is expected to expand by an average of 8.4% per annum by the end of 2017. This outpaces the 6% growth forecast for budget hotels and the 2.6% across all hotels. While London previously dominated this expansion, Scotland is a future growth hotspot over the next two years with a predicted average growth per annum of 21.1%.
As well as being the largest financial hub outside London, Edinburgh continues to benefit from its global status as a premier destination for tourists throughout the calendar year. Savvy leisure travellers are looking to serviced apartments for a more family-friendly place to stay with plenty of space for entertaining and dining.