Tomorrow's World
What next for the serviced apartment?
by Catherine Chetwynd
"In our own apartments, we are
converting the sitting room with TV
into entertainment centre with large
flat-screen TV, higher quality amplifier
with cinema surround sound and wider
scope to get connected to TV channels
around the world. Our buildings appeal
to multi-national players and it is not
adequate to say we have got Sky, they
want to be able to watch speedboat
racing in the Gulf, for example."
However, at the moment, it is difficult to
find affordable packages and splitting the
cost between flats in a block is not possible.
Ergonomic design and added value
will mark out tomorrow's apartment,
according to regional general manager
for UK Ascott International Rebecca
Hollants van Loocke. "There may be
many more services built into the price,"
she says.
The bridge between hotels and corporate
housing is provided by extended stay
properties, a sector that is well established
in the US but less so in Europe and the
Middle East.Marriott Executive Apartments
(MEA) has 16 outside the US and the first
Staybridge Suites (IHG) opened in
Liverpool in June, followed closely by
their Cairo property. Vice president
Staybridge Suites EMEA, IHG,
John Wagner, also sees the emphasis
moving towards more services.
"It was very much part of our research
as we talked to customers that were in
serviced apartments or extended stay
lodging," he says. "They are willing to
pay for more services and not willing to
give up the physical features. That drove
our product towards Staybridge Suites
rather than condominiums and to come
up a bit from where we were on price.
"We have deliberately tried to move
towards the hotel end of the spectrum
with facilities. People may take a lease
on a building or flat if they know they are
going to be there for six to nine months
but our customers don't want to risk the
deposit that is usually necessary for
that," says Wagner.

Extended stay properties are already the
norm in Asia. "Long-stay accommodation
is more along the extended stay model
than corporate housing, especially in
South East Asia," says CEO for Europe
and the Middle East for Frasers Serviced
Apartments UK, Guus Bakker. "They are
purpose-built, fully serviced apartments."