With the buzz around aparthotels increasing, we invite the directors behind Epic Liverpool to explain the business case that underpins the development of their two existing Liverpool-based properties and a new 12-key development on Duke Street.

St Regis serviced apartment

The serviced apartment concept is fast becoming an increasingly global phenomenon and in recent years has gained significant popularity, thereby representing a significant competitor for conventional hotels. Especially for corporate guests re-locating on a temporary basis, apartments have become very attractive and tend to offer a whole lot more than the standard hotel.
Serviced apartments have a higher occupancy rate than hotels, and the sector is forecast to continue to perform strongly in the coming years as improving economic conditions drive corporate demand.

Supply growth continues and serviced accommodation has seen a surge of new openings across popular UK city centres, driven by a demand for short and long term accommodation.

The serviced apartment sector is more profitable from a management perspective than a full service hotel, as the overheads are reduced, services and staff level are refined to allow for profits to be significantly higher.

Focus on Business Travellers

Serviced apartments are by far the most popular option for corporate travel, not only are they less expensive than the equivalent hotels, they offer individuals far more benefits.
Consumer research in recent years has indicated prominent reasons why business travellers choose serviced apartments in preference to a conventional hotel. One of the main factors is more space, as guests can find that they can work remotely and more productively as a result of the additional space that apartments tend to offer. Space varies per apartment for a number of reasons but usually apartments are available to hire in a studio, one or two bedroom apartment.

Having the option of a furnished apartment for a short or long-term stay, is much more appealing as it provides guests with everyday creature comforts, that make a stay far more pleasurable.
Serviced apartments tend to be more popular as they on average are more cost effective, whether it’s an all-expense paid business trip or a leisurely weekend away serviced apartments offer superb value for money. With a serviced apartment there are no hidden extras and if you opt to stay for a longer period of time, the cost per day usually works out cheaper and overall the money saved is more significant than hotel accommodation.

Serviced apartments provide more space and privacy, which is convenience when traveling, in a group or with work colleagues. Serviced apartments offer more flexibility, allowing occupants to dine in with the option to cook in the fully equipped fitted kitchen area. This can result in a lot of money being saved especially if the time staying at the apartment is lengthy.

Everyday Luxury

Serviced apartments tend to offer a very high standard and in many city centre locations, guests are presented with fresh contemporary décor and modern furniture, the quality expected from a hotel room is usually matched or better, in comparison to hotels alike.

If traveling for business and requiring a longer stay than usual, the addition of a dishwasher and washer/dryer is an added bonus, with some serviced apartments packages breakfast packs and bottles of wine or champagne can be supplied, offering convenience and flexibility to guests.

The luxury of having everyday amenities on hand brings savings associated that hotels charge for, for example serviced apartments house a fitted kitchen allowing for meals and meetings to be taken place in the social area of the apartment. This not only brings saving costs it also offers great convenience.

Cost Efficient for Business Travellers

Serviced apartments are more cost efficient because their rates are usually lower than that of hotel rooms, and serviced apartments also offer long-term rates, which convert to discounts.

More space in serviced apartments allows groups to travel together and the cost can be distributed between guests, this isn’t an option with a conventional hotel as they only offer one room.

Serviced apartments are a growing sector and the market is becoming increasingly educated as to the benefits that the serviced apartment offers over the traditional hotel room. The hotel sector is moving towards serviced apartments either by acquiring or developing their own brands or by offering certain service elements, for example by introducing apart hotels to their customer base.