ASAP has just released the findings of a unique survey, jointly with Savills, which confirms that the sector is on track to double in size in the UK in the next 2 years.
James Foice, Managing Director of the ASAP comments:
‘This is the breakthrough moment for the UK Serviced Apartment sector, a complete game-changer. Our joint report with Savills confirms the sector will be the UK’s fastest growing hospitality segment to end 2017 with average annual growth of 8.4% for both 2016 and 2017. This growth will position the serviced apartment sector as a mainstream accommodation choice, a key player within the hospitality industry as a whole. We will have the critical mass of stock to ensure the consumer will have the option of booking a serviced apartment wherever they choose to travel in the UK. The expansion to every corner of the UK is particularly exciting: so while the most significant new developments are in our largest cities – London, Birmingham, Liverpool, Manchester, Edinburgh, Glasgow, it’s great to see new openings in 2016 in secondary cities including Reading, York, Chester, and Aberdeen.’