James Foice, ASAP CEO, says: “I’m delighted to see this coming to the fore, following the sterling work by our industry in establishing itself with the traveller.

“The serviced apartment and aparthotel sector offers the experiential nature of hospitality the consumer demands – now the sharing economy has opened up the concept of ‘living like a local’ worldwide – combined with professional management and the guest experience as a priority.

“It should also reinforce to the buyer that through our Members’ ISAAP Accreditation, they can be assured that stringent standards of safety, security and duty of care have been met.”

Last week, the OECD Secretariat published a proposal to advance international negotiations to ensure Multinational Enterprises (MNEs), including digital companies such as Airbnb and other homestay platforms, pay tax wherever they have significant consumer-facing activities and generate their profits, but do not have a physical presence, through the creation of new rules around where, and how much, tax should be paid.

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