serviced apartments
ONYX Hospitality Group Expands Shama Portfolio With Signing of Shama Rayong
ONYX Hospitality Group | April 3, 2024
London - 3 April 2024 - ONYX Hospitality Group, the leading hospitality management company, is delighted to announce the expansion of its renowned Shama brand with the launch of Shama Rayong, capitalising on the demand for serviced apartments. The signing ceremony took place on 1st April 2024 at Amari Bangkok, with the new property expected to welcome its first guests from Q1 2026. Shama Rayong marks a significant milestone for the brand and expanding its footprint in Thailand. The company recognises the increasing demand for serviced apartments, particularly in the post-pandemic era, and is confident that this new addition will be a w...
Serviced Apartments: Top Trends to Watch This Year
Eva Lacalle | July 24, 2023
By Eva Lacalle Marked by changing traveling patterns and blurred lines between working and living, the new era of hospitality shows no signs of slowing down. From bleisure travel to slomads, serviced apartments have a perfect opportunity to grab the spotlight – and some extra revenue. The trick is to stay on top of trends and implement them before your competitors do. Top 6 serviced apartment trends We'll explore the most relevant trends for serviced apartments – sustainability, multi-functional spaces, the rise of new target clients, extended stays, and much more. Keep reading to discover them all. 1. Sustainability Sustainabil...
Marriott Introduces Apartments by Marriott Bonvoy, Responding to Growing Consumer Demand as Travelers Increasingly Blend Work and Leisure
Marriott International, Inc. | November 10, 2022
Marriott International, Inc., today announced its expansion into apartment-style accommodations with the launch of Apartments by Marriott BonvoyTM. The company is seizing upon growing consumer interest among families and friends seeking more space for stays, propelled by the blending of work and leisure travel, and the desire among younger travelers for wider accommodations options. Marriott is building upon its 26 years of experience with Marriott Executive Apartments, its serviced-apartment brand in Asia, Europe, Middle East, Africa, and Latin America. With the introduction of Apartments by Marriott Bonvoy, the company expects it will en...
Serviced Apartment Operators Demonstrate Versatility and Innovation Which Is Driving Success
HVS | March 31, 2022
London - March 31, 2022 - The versatility of serviced apartments and the willingness of operators to embrace new concepts are two of the key factors driving the sector’s on-going success, with new brands emerging that focus on co-living and the combination of work and home. Launching its annual Service Apartment Sector in Europe report this week, global hotel consultancy HVS highlights the fact the sector is still very much in a period of expansion, with over 13,000 units expected to open in Europe over the next four years. In addition, operators have been quick to respond to changes in the way people travel and the blending of hom...
GCC Hotel Development Cost Trends
HVS | October 11, 2018
Analyzing historical trends, the key reason behind escalating costs per key continues to be low in efficiency and utilization of space. Price per sqm of total built up area remains largely the same and therefore it is crucial that any design optimizes the turnover per sqm of built areas. HVS provides an indicative reasonable range of BUA per asset type. Hotel Development Cost Source: HVS Research With the exception of Budget & Midscale Hotels which focus on efficient & flexible design, development cost per key for all other hotel classes have increased between 10%-20% since 2013, resulting in lower project returns. We consider ...
How Serviced Apartments Are Tuning Into Modern Traveler Needs
JLL Real Views | September 6, 2018
As the line between work and leisure trips continues to blur, serviced apartment operators are both fuelling and catering for this growing 'b-leisure' market. More than two thirds of business travelers tag on extra days before or after meetings on at least one trip a year, according to Egencia. Combine it with changing traveler preferences for home-style accommodation in convenient locations, and serviced apartments are an increasingly popular choice. "Many of today's travellers want to stay somewhere where they tend to have more space and greater independence than in traditional hotels," says Eva Chan, vice president of JLL Hotels and ...
European Serviced Apartments Boom as Operators Head Towards New Markets, Says HVS Survey
HVS | July 10, 2018
10 July 2018, London: The European serviced apartment sector has boomed in the past year, with approaching 20,000 units planned for the next five years and some operators within the region interested in expanding into new markets such as Eastern Europe and even the US. According to a survey of leading serviced apartment operators undertaken by global hotel consultancy HVS, the sector saw impressive growth in 2017 with increases in RevPAR (rooms revenue per available room) in London, the UK regions and across the rest of Europe. While operators say their biggest challenge is competing against hotels for central sites, growing demand for ...
Serviced Apartments: An Ever-Growing Sector?
Stuart Pallister | October 23, 2017
By Stuart Pallister In the first of two pieces on serviced apartments, we examine the drivers of growth in the extended-stay sector. In the second article, to be published next month, we will examine innovations in serviced apartments in the face of increasing land prices. Call them what you will – serviced or extended-stay apartments or aparthotels – major operators in this sector are looking to differentiate their properties from traditional hotels and Airbnb. That means trying to innovate with new products, while apartment and studio sizes continue to shrink due to rising land prices. And while operators are generally opt...
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