Outside the UK and US, CEO for Europe and the Middle East for Frasers Serviced Apartments Guus Bakker sees considerable demand and growth potential for fully serviced accommodation, as opposed to corporate housing. "Guests in foreign countries are looking for the security of professionally operated properties with international standards and familiar brand names provide reassurance in an unfamiliar culture."

This is not just a matter of peace of mind in an unfamiliar environment. "Health & Safety standards vary enormously worldwide but international serviced apartment operators have strict standards in terms of health and safety, most of the time based on the model of American or British H&S requirements," he says. It is interesting to note that serviced apartments operators do not get much business through TMCs, even though, if they did, standards of service and product might have to become more consistent. In emerging countries high safety and security standards are even more important. For example, safety and security for residents is paramount and many foreign guests prefer Western style buildings that have security cameras, high levels of staffing and are in decent areas, "says senior vice president and general manager for Oakwood Worldwide Gavan James.