Industry Benchmark
By Mark Harris
Why apartments?
85% of agents' clients and 65% of
corporates overall now have travel and
relocation policies in place, with a fixed
nightly budget operable in 65.9% of cases.
The three principal reasons why
corporates generally book apartments
over hotels are comfort (68.9%), space
(65.6%) and the ability to cook for oneself
(63.9%, rising to 84.6% in Australasia).
Price is most important to buyers in
the US (62.5%), although the overall
environment of the apartment is perhaps
the key. As one respondent expressed,
"it is not nice to expect someone to be in
an environment where there is nothing
more than a bed and bath available to
them."
In terms of specific purchases, location
is the most important criteria in selecting
a serviced apartment, followed by price
and facilities. Brand trust was not felt to
be a key purchasing criterion in any of
the regions surveyed.
Source: The Apartment Service Global Survey 2008
Source: The Apartment Service Global Survey 2008