Author Fiona Murchie published an article in the Relocate Magazine and addressed the position of serviced apartments in the relocation or temporary housing market and whether enough was being done by the serviced apartment industry to promote to this market sector. The challenge addressed was whether the term ‘Serviced Apartments’ was the correct one or whether ‘Corporate Housing’ was a better name for the industry. So what is in a name?
Interesting points mentioned in the article:
- Europe is the second largest serviced apartment market in the world second to USA – having only been in the serviced apartment industry for the past twenty years during which time it has shown tremendous growth and success.
- The Global Serviced Apartment industry reports that the main concentrations of serviced apartments in Europe are in London, Paris, Brussels, Dublin and Geneva.
- Jo Layton, of The Apartment Service, representing Europe at the ‘Around the World’ discussion session at the Serviced Apartment summit, commented that the serviced apartment picture in Europe ten years ago had been hugely fragmented, with virtually no distribution across the continent. Today, she said, there is a huge challenge but also an opportunity to make the product clearer.
- It was made clear the industry needed to clarify its offering in order to move forward, and that providers must listen to the buyers. For example, although Paris was defined as a mature market, with a lot of aparthotels and an existing résidence de tourisme classification of one to five rooms with kitchenettes, in terms of catering for the relocation market, which requires longer-stay serviced apartments, the market was still immature.
- The biggest growth in temporary housing requirements is expected to be in professional services and consulting sectors. Those moving and needing temporary housing will be managers, specialists and technical experts with short-term assignments now accounting for 46% of relocations.
So, what are Cotels views on what was discussed at the Summit? We agree that we need consultation with the corporate global mobility providers to understand what they are looking for and how we meet the expectations both through means of communication but also with what our apartments have to offer.
Over the past decade we have promoted our serviced apartments to the relocation and temporary housing market. Temporary housing Milton Keynes, Northampton and Luton locations have all been furnished and equipped to cater for guests staying a few months or more. Our maid service visits each apartment weekly to give it a thorough clean and to change the bed linen and towels. A fully equipped kitchen, wardrobes to each bedroom, laundry facilities, dedicated parking bay and an uninterrupted internet connection are offered to all guests with the goal of providing a ‘home-from-home’ environment that guests can relax and enjoy.
Cotels’ also regularly re-decorate apartments to keep a high standard of cleanliness and homely appeal.
What is in a name? The obvious definition is that they are furnished apartments with a maid service and available for short to long-term bookings whether for business travel, corporate stays, temporary housing or relocation. For further details, contact us today to discuss our long-stay serviced apartments for relocation.