Corporate demand for serviced apartments continues to rise
Sector continues to grow its share of corporate accommodation spend and alternative accommodation is also gaining traction among business travelers
A new survey of 3,000 corporates, serviced apartment operators and agents, along with a series of interviews conducted between March and May 2023, revealed that serviced apartments usage is on the rise.
Key takeaways
- More than half (53%) of corporates said they are now using serviced apartments for business travel more than they were twelve months ago;
- Average length of stay is also set to rise, as 89% of corporates predict this will increase or stay the same in 2023;
- Despite bleisure trends gaining traction among corporates, the survey revealed that just 5.3% are currently using serviced apartments for these trips.
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