Serviced apartment operators’ optimism for the next 12 months softens but future expansion plans remain robust
London, 2 July 2018
The results of the June 2018 Operator Sentiment Tracker Survey released today by ASAP and Savills confirm that the sector continues to be optimistic about future business prospects but to a lesser extent when compared to the previous survey in November 2017.
The key findings for the UK serviced apartment sector are:
- Overall optimism in the sector remains positive
- However the level of optimism for the next 12 months has softened to 13.5%
- Expansion plans remain robust
- Year-end performance will be broadly in line with 2017
- The large increase in demand from the leisure segment reported in the November survey has not been sustained
- However corporate demand remains
- Business rates have overtaken wider economic conditions to become the biggest perceived challenge facing the sector.