Speaking at the SO!APART Conference in Berlin last week, event organiser Anett Gregorius, Founder & Owner of Apartmentservice, confirmed that the sector is booming.
‘Munich, Frankfurt, Berlin, Hamburg and Dusseldorf are the top 5 serviced apartment cities in Germany, currently accounting for 62% of the overall supply, but a lot of the new development will come in our secondary and tertiary cities.
A number of global brands are recognising the potential and expanding in the German market. For example Frasers Hospitality, who opened their first Germany property – Capri by Fraser in Frankfurt in 2015, will open 2 further German properties in the next 2 years – Capri by Fraser in Berlin in 2017 and Fraser Suites in Hamburg in 2018. Staybridge Suites will open in Frankfurt in 2018 and the Student Hotel, well established in the Netherlands will open a property with 456 rooms in Berlin in 2019. ’
Micro-apartments – less than 25 square metres – are a growing trend in the German market, along with an increasing number of mixed-use developments. A good example is the developer GBI AG who constructed a budget, a midscale and an extended stay hotel in Frankfurt’s European district.
The average occupancy for the serviced apartment sector Germany in 2015 was 78% with the average length of stay 31.7 nights.
ASAP was delighted to attend the SO!APART Conference in Berlin on 17/18 November and looks forward to welcoming Anett Gregorius to our ASAP Convention in London on 1 December.