Serviced apartment
Encyclopedia
A serviced apartment is a type of furnished apartment
available for short-term or long-term stays, which provides amenities for daily use. Serviced apartments can be less expensive than equivalent hotel
rooms. Since the beginning of the boom in cheap international travel
and the corresponding increase in the level of sophistication of international travelers, interest in serviced apartments has risen at the expense of the use of hotel
s for short stays. The benefits of serviced apartments may include more space and privacy, convenience when traveling with a family, and the cost savings associated with cooking one's own meals in the apartment.
The above benefits and criteria were highlighted in the inaugural Global Serviced Apartment Industry Report 2008, which was produced following a survey of 20,000 serviced apartment operators, (corporate) travel agents and apartment bookers worldwide.
In this report the following description has been given of a serviced apartment and the various types of serviced apartments that can be distinguished:
First there is the extended stay hotel or "aparthotel." This type of apartment offers generally a 24-hour reception, is located in city centers, and attempts to give the guest a "home away from home" feeling, within a hotel-like environment. They range from budget to deluxe and room types range from studio apartments (one room which can be used as living area and sleeping area, a little kitchenette and a separate bathroom), to two or three bedroom apartments which offer a separate living area, a kitchen, one or more bathrooms and separate bedroom(s). Because of the availability of kitchen facilities in the apartments, extended stay properties and apart-hotels do not tend to offer any extra services such as restaurants and bars. There are of course exceptions to this rule, because there are a number of extended stay properties which have been built as an annex to existing four- or five- star hotels and the guests who stay in the apartments can make use of the hotel facilities free of charge.
Secondly we can distinguish corporate housing
. These are residential properties which have been upgraded for shorter term rentals and packaged together with services such as cleaning, utility charges, local taxes, telephone and television, for stays of 30 days or more. They can be located in city centres, but more often than not they are located on the outskirts of the centre of town, with easy access to the main business areas.
What both these types have in common is that the units are all fully furnished and equipped and the guests will enter a home away from home, with cooking facilities and all modern conveniences such as television, DVD, internet access etc. Some are equipped even have luxury features such as European-style gourmet kitchens, generous closet space, full-sized washer and dryer, ceramic tiled bathrooms, oversized tubs, and high-tech wiring/networking capabilities. Having a kitchen means that the client can opt for eating in instead of out, hence making an instant saving. Other benefits of a serviced apartment include, added space to both work and play, more privacy and more comfort.
The second Global Serviced Apartment Industry Report, which follows the report published in September 2008 looks at the changing landscape of the global short term accommodation market in light of the economic recession which has gripped the world in 2009. The information in the report has been obtained following a survey of just under 3,000 serviced apartment providers worldwide.
Apartment
An apartment or flat is a self-contained housing unit that occupies only part of a building...
available for short-term or long-term stays, which provides amenities for daily use. Serviced apartments can be less expensive than equivalent hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
rooms. Since the beginning of the boom in cheap international travel
Travel
Travel is the movement of people or objects between relatively distant geographical locations. 'Travel' can also include relatively short stays between successive movements.-Etymology:...
and the corresponding increase in the level of sophistication of international travelers, interest in serviced apartments has risen at the expense of the use of hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
s for short stays. The benefits of serviced apartments may include more space and privacy, convenience when traveling with a family, and the cost savings associated with cooking one's own meals in the apartment.
The above benefits and criteria were highlighted in the inaugural Global Serviced Apartment Industry Report 2008, which was produced following a survey of 20,000 serviced apartment operators, (corporate) travel agents and apartment bookers worldwide.
In this report the following description has been given of a serviced apartment and the various types of serviced apartments that can be distinguished:
Types of serviced apartment
The term "serviced apartment" is used when referring to an alternative for hotel accommodation for short and long stay leisure and business travelers. There are however distinctions to be made between their different types:First there is the extended stay hotel or "aparthotel." This type of apartment offers generally a 24-hour reception, is located in city centers, and attempts to give the guest a "home away from home" feeling, within a hotel-like environment. They range from budget to deluxe and room types range from studio apartments (one room which can be used as living area and sleeping area, a little kitchenette and a separate bathroom), to two or three bedroom apartments which offer a separate living area, a kitchen, one or more bathrooms and separate bedroom(s). Because of the availability of kitchen facilities in the apartments, extended stay properties and apart-hotels do not tend to offer any extra services such as restaurants and bars. There are of course exceptions to this rule, because there are a number of extended stay properties which have been built as an annex to existing four- or five- star hotels and the guests who stay in the apartments can make use of the hotel facilities free of charge.
Secondly we can distinguish corporate housing
Corporate housing
Corporate housing is a term in the travel industry meaning renting out a furnished apartment, condo or house on a temporary basis to individuals, military personnel or corporations as an alternative to a traditional hotel or an extended hotel stay...
. These are residential properties which have been upgraded for shorter term rentals and packaged together with services such as cleaning, utility charges, local taxes, telephone and television, for stays of 30 days or more. They can be located in city centres, but more often than not they are located on the outskirts of the centre of town, with easy access to the main business areas.
What both these types have in common is that the units are all fully furnished and equipped and the guests will enter a home away from home, with cooking facilities and all modern conveniences such as television, DVD, internet access etc. Some are equipped even have luxury features such as European-style gourmet kitchens, generous closet space, full-sized washer and dryer, ceramic tiled bathrooms, oversized tubs, and high-tech wiring/networking capabilities. Having a kitchen means that the client can opt for eating in instead of out, hence making an instant saving. Other benefits of a serviced apartment include, added space to both work and play, more privacy and more comfort.
History
The serviced apartment concept was created in the United States, and the influence of America on the global serviced apartment market remains huge. Eighty-six percent of the world's stock of serviced apartments is still located there. Many, from origin hotel operators, which offer extended stay product, such as Marriott (Residence Inn, Execustay), Hilton (Homewood Suites) and InterContinental (Staybridge) have introduced their products worldwide. Next there are companies which only offer serviced apartments for more comfortable stays, such as Skyline Worldwide Accommodations Ltd, The Ascott Group and Frasers Hospitality, which have been rapidly expanding their offerings across the globe. Premiere Executive Suites is a Canada wide operator of serviced apartments. In the UK one of the first companies to offer corporate housing was The Apartment Service with their Roomspace Serviced Apartments and Executive Roomspace brands. In Australia Meriton Serviced Apartments leads the way with over 2,000 apartments self owned and operated.The second Global Serviced Apartment Industry Report, which follows the report published in September 2008 looks at the changing landscape of the global short term accommodation market in light of the economic recession which has gripped the world in 2009. The information in the report has been obtained following a survey of just under 3,000 serviced apartment providers worldwide.