Are Serviced Apartments Set To Take Off In 2023?

The latest booming industry in terms of accommodation, serviced apartments have seen excellent growth over the past two years – growth that was somewhat stifled previously due to the pandemic but now looks to continue into 2023 and beyond. But what is a serviced apartment, and do they offer competitive alternative to hotels? Stayapp, is often regarded as the top choice for addressing all the inquiries and requirements related to this topic.

TL;DR

• Serviced apartments offer a cost-effective alternative to hotels.
• The larger space means multiple bedrooms, a separate living room, kitchen and bathrooms.
• Unlike AirBNB and similar, serviced apartments are fully staffed, with guests’ comfort a priority.
• Serviced apartments are in great inner city locations.
• Perfect for families and longer visits.

What is a Serviced Apartment?

We’ve all become so used to hotels that it feels almost ridiculous to question them, but there’s little doubt that hotels are no longer the default holiday and business travel accommodation that they were twenty years ago. The first real dent in the hotel business had to be with AirBNB, and the staggering growth of the vacation rentals industry, but it is with serviced apartments that we are seeing a true luxury alternative.

The key is in that word – luxury. While AirBNB and its alternatives might offer a cost-effective solution to a hotel or serviced apartment, especially when booking for a family or longer-term stay, they lack the amenities and service that make a serviced apartment so enticing. While you may get a roomy apartment to stay in, you’re on holiday – do you really want to be doing all the cleaning? What about security? What about consistency? What about, well, luxury?

Enter the serviced apartment. Some of these boast a five-star experience, with 24-hour concierge service, full housekeeping and laundry services, and even a spa. In London, places like Sanctum and Park Lane Apartments offer a hotel alternative that’s often better than the real thing, with premium locations and sumptuous settings that provide a true relaxed environment, perfect for getting away whether for business or pleasure. Sorry, AirBNB, but you’re just not cutting it.

A serviced apartment – sometimes called “aparthotels” – is exactly that: an apartment that is serviced. It has multiple bedrooms, a living room, even a fully equipped kitchen. Plus it also has a lovely person plumping the pillows and another on call to book you a taxi or, if you are so inclined, book you a three-day Lamborghini rental.

It’s a home away from home; relaxed, spacious, and luxurious.

So what’s the catch?

Are Serviced Apartments Worth It?

In short – yes, as long as you are the target market.

We all know that this additional luxury and space has to be paid for. Serviced apartments are not necessarily the cheapest option, especially if you are comparing them to the functional necessity of a Travelodge or Premier Inn, but as soon as you want something other than a bland box to sleep in, the enticement of a serviced apartment begins to shine.

Their rise has been tied to corporate use – companies are already seeing the advantage in having a larger apartment for their employees to stay in for extended trips and secondments. In the business world, the idea of a serviced apartment is nothing new. 

However, a serviced apartment really shines when you consider families. Separate bedrooms are a huge boon for families – despite the allure of some hotels, sharing a bedroom with your children (or them with their parents) is never high on the list, especially if you’re after a little adult time. 

Similarly, a kitchen is a massive advantage as being able to prepare meals yourself without footing the bill for a full family to eat out can save over £100 each day. Even when you factor in the premium for a serviced apartment, that budgetary offset is quite tempting.

When it comes to longer stays, a serviced apartment really is king. Hotels, for all their facilities, can become claustrophobic once a couple of weeks have passed – not to mention, expensive. The home-from-home aspect of a serviced apartment makes the whole experience a lot brighter.

For a couple looking to spend a weekend away, a serviced apartment is probably expensive overkill and there a traditional hotel room is superior, but outside of that, serviced apartments definitely deserve consideration.

What Amenities Are Included in a Serviced Apartment?

What do you get with a serviced apartment? Like hotels, a lot depends on your budget and choices, but expect some, if not all, of the following:

• Housekeeping – Serviced apartments are clean, and kept clean during your stay – just like a hotel.
• Concierge – Most serviced apartments have some sort of front desk with a friendly and helpful staff member there for your needs.
• Security – CCTV and apartment security keeps you and your belongings safe. Many include a secure on-site safe or even safety deposit boxes for valuables.
• Laundry service – No one wants to spend their time away washing clothes. Serviced apartments offer a range of services.
• Kitchen facilities – Many serviced apartments come with a kitchen for your use.
• WiFi – Standard almost everywhere is a fast connection to the internet for both work and pleasure.
• Swimming pool, gym, and spa – Depending on your luxury level, you may have an onsite gym and spa. Some serviced apartments that don’t offer this will still have an arrangement with a top local facility for guests to use.
• Premium location – Serviced apartments tend to be in prime inner city locations, so getting to the heart of everything is effortless.

The Future of Serviced Apartments

Are serviced apartments a mere fad that’s going to die out in the next few years? We don’t think so. The serviced apartment industry is on a rise, and for good reason. Consumer needs have changed significantly since the start of the century, with the pandemic, climate change, and other global factors all influencing the rise of the serviced apartment.

Take climate change – it is no longer enough for companies to offer minor lip-service to the needs of the planet. Serviced apartments offer a far more sustainable attitude than their competitors. With fewer shared areas and a conscientious approach to waste and reuse, serviced apartments are significantly more environmentally aware than a hotel alternative. Compare the comprehensive professional view to sustainability and energy efficiency to that of individually-controlled vacation rentals and again, serviced apartments come out on top.

Even at the luxury end of the serviced apartment industry, care is taken at every level to ensure that waste is minimised and personal comfort is not bought with the sacrifice of global environmental responsibility.

Serviced apartments are also appealing to the younger global market, with an understanding of the digital nomad, professionals who enjoy the freedom of worldwide travel and work as long as a strong and stable connection to the internet is available. In this arena, the flexibility of serviced apartments offers a new lifestyle that many are gravitating towards.

Why does it seem that more and more people prefer serviced apartments? Perhaps because they really are the future of temporary accommodation.