Released on: October 3, 2008, 5:16 am

Press Release Author: Bard Vos

Industry: Real Estate

Press Release Summary: SERVICED APARTMENTS SECTOR TO

WITHSTAND GLOBAL ECONOMIC SLOWDOWN




First ever global serviced apartments survey published by The Apartment Service

- includes Extended Stay Hotel, Aparthotel and Corporate Housing sectors:




Key findings




* 65% of corporates have travel & relocation policies in place

* 72% of companies worldwide use apartments instead of hotels for stays of
7+ nights

* Location is most important selection criteria

* Space and comfort are biggest influences on buyer choice

* Ability to cook for oneself cited by 63% of survey respondents as key factor

* Brand trust is surprisingly not a key purchasing criterion



Press Release Body: SERVICED APARTMENTS SECTOR TO

WITHSTAND GLOBAL ECONOMIC SLOWDOWN




First ever global serviced apartments survey published by The Apartment Service

- includes Extended Stay Hotel, Aparthotel and Corporate Housing sectors:




Key findings




* 65% of corporates have travel & relocation policies in place

* 72% of companies worldwide use apartments instead of hotels for stays of
7+ nights

* Location is most important selection criteria

* Space and comfort are biggest influences on buyer choice

* Ability to cook for oneself cited by 63% of survey respondents as key factor

* Brand trust is surprisingly not a key purchasing criterion




After almost 50 years, the serviced apartment has finally come of age in the
corporate world, with 47% of organizations across the globe now using apartments for
long stays, temporary assignments or relocation as hotel rates continue to rise.




That's one of the key findings of the Global Serviced Apartments Survey 2008,
undertaken by The Apartment Service amongst over 20,000 bookers, Travel Management
Companies, Relocation Management Companies and apartment operators worldwide.




According to the survey, the apartments sector is set to withstand the global
economic slow down, due to demand outstripping supply and the cost saving benefits
apartments are able to offer over hotels.




The findings of the research form the basis of the first-ever Global Serviced
Apartments Industry Report, being written by Travel Intelligence Network and due for
publication on September 11th at the Hotel Booking Agent's Forum held in the UK.




As well as detailing the survey's results, the report will contain market size,
spend and rates for Europe and other regions around the globe. The 40 page report
brings together comment, case studies and trend information into one reference tool
for buyers and suppliers alike.




"Until recently, serviced apartments were still something of an unknown quantity for
many corporate buyers" explains Charles McCrow, Managing Director of The Apartment
Service. "A lot of independent research has been carried out in different
territories, but this is the first-ever global survey of its kind. This is also the
first time anyone has ever looked at the available data and published a definitive
guide to the apartment sector. Hopefully we've achieved that."




The findings will highlight the major operators, explain the different types of
property which can be defined as serviced apartments, examine how apartment
operators run their inventories and focus on how the sector has come to meet the
needs of the corporate.




The Global Serviced Apartments Industry Report is available to download, free of
charge, here:

http://www.apartmentservice.com/GSAIR08




A hard copy can also be ordered on this page




ENDS



Web Site: http://www.apartmentservice.com/GSAIR08

Contact Details: Bard Vos
The Apartment Service
5-6 Francis Grove
London SW19 4DT
+44-020-89441444
bardv@apartment.co.uk