Are Serviced Apartments Good Value for Corporate Travel?
“Value for money” is a moving target at the best of times. So when we are asked “How do your serviced apartments for corporate travel compare to other forms of accommodation in terms of value for money?” we try to do more than just compare the bills.
Money, though, is a good place to start and it’s worth exploring briefly how serviced apartment operators, like Cotels, are able to drive costs down.
One of the most significant costs for hotel owners is general housekeeping and maintenance, not just of the rooms, but communal areas, restaurants, gyms, spas, lobbies, lounges and receptions. In a serviced apartment, communal areas are not required as each apartment has its own area to relax; they are usually located in town centres where a wide choice of restaurants is available, or guests can cook for themselves in the fully-equipped kitchens.
Value for Money
Because average guest stays are much longer than in a hotel, housekeeping is much less intensive. A typical hotel will be servicing its rooms daily – but in an apartment where guests might be staying for a few days or a few months, cleaning and a change of linen and towels will happen on changeover or weekly – whichever is shorter. Longer stays also help to drive costs down by reducing the volatility of void periods, making planning and investment much easier. This is often passed onto customers in the form of longer stay discounts.
The starting point for a cost comparison between hotels and serviced apartments is the daily rate. Our business travel accommodation in Milton Keynes starts from as little as £70 a night (+VAT) for a one-bedroom apartment in Northampton – very comparable to a three or four-star hotel room, but with plenty of space for two, a fully fitted kitchen, dining area and separate bathroom and bedroom. At the other end of the scale, one of our 3 bed superior apartments in Vizion Milton Keynes is as little as £105 (+VAT) per night for stays of 90 nights or more. Sleeping up to six, this represents incredible value for money as apartments are charged per night, not per person.
If you‘re responsible for booking accommodation for corporate travel, you’ll be aware that the room rate is not the only cost your staff is likely to incur during their stay. A hotel bill is often accompanied by charges for room service, laundry, parking, internet access and so on. This is another area where serviced apartments can help to keep your travel budget under control.
In Cotels apartments, secure parking for one car is always provided and superfast fibre Wi-Fi is included at no extra cost. Each apartment has washing/drying facilities so there shouldn’t be any laundry bills. The modern, fully fitted kitchens include hob, oven, fridge/freezer, microwave and dishwasher mean that your employees don’t have to eat out every night and can eat what they want, when they want offering big savings on costly Hotel restaurant bills.
Home from Home
It’s not just on direct costs that serviced apartments can score over hotels for corporate travel. The benefits of staying in an apartment with all the facilities you would expect at home are considerable. It’s a less stressful environment particularly if your staff have to be away for a week or more and can make a big contribution to productivity. Serviced apartments are often used now for much longer stays, for example when relocating staff and can often be a more practical and cost effective alternative to house rental. There is greater flexibility on length of stay, logistics are simpler – there’s no need to manage and pay for removals and packing twice – and the employee will be able to focus on the new job rather than having to cope with the stress of multiple moves.
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