With strong economic growth in China, India and South-east Asia, demand for serviced apartments has doubled, offering more space, privacy, option to cook, flexibility, and better cost of longer stay.

According to the GBTA, Asia Pacific gets the largest share of the business travel spend followed by North America and Western Europe, and with over 20% on-site assignments now lasting less than 12 months, demand for serviced apartments across the region has grown by over 25% over the past decade. Global players have taken note of that, and today Oakwood, BridgeSteet and Ascott are growing at the fastest pace in this region.

Over half of the 3.4 billion internet users worldwide are from Asia-Pacific due to the widespread adoption of smartphones, and research studies show that almost 80% of corporate bookings are made online, with around 27% made directly on the brand.com through the in-built booking option.

But a TIN report shows that 68% of serviced apartment operators are not represented on online platforms, and that providers need to adapt to customer requirements to expand their visibility and market share, to stay ahead in the game.
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