According to the latest ASAP/Savills sentiment survey just released, sentiment in the serviced apartment sector has improved considerably since June 2020, with 71.8% of respondents in November stating they were ‘slightly or significantly more optimistic’ about their business outlook over the next 12 months, up from 41.2% in the summer – the most positive response ever recorded for the question since the survey began in 2016.
James Foice, ASAP CEO, says: “Nobody can overstate the devastating impact of the pandemic on the whole hospitality industry, nor on our own sector. Almost daily I am being asked for comments on how serviced apartment operators are faring, and what the forecast is for recovery. Now we have the answer straight from those on the ground.
“The vast majority believe they are better positioned than traditional hotels, almost half are expecting a rebound within 12 months, and a quarter planning to hire staff during that time.
“It’s wonderful news that there is such resilience in the sector, and the highest optimism for things to improve since we started these surveys with our colleagues at Savills.”ASAP Sentiment Survey - 7December 2020 (1)