Archives for posts with tag: serviced apartments

Ascott has opened its first serviced apartments in Hamburg and Hangzhou, as well as a second Ascott-branded property in Jakarta.

The serviced apartment provider will also be launching its first property in Macau at the end of this year, while its second serviced residence offering in Dubai is slated to open in 2017.

It has also spent US$70 million rebranding The Mercer as Citadines Mercer Hong Kong.


Citadines Intime City Hangzhou

Citadines Intime City Hangzhou is located close to the city’s major business districts and attractions including the Beijing-Hangzhou Grand Canal.

Hangzhou railway station is nearby, while Hangzhou East railway station is a 30-minute drive away and Hangzhou Xiaoshan International airport is an hour by car.

The 104-room property has apartments ranging from studios to two-bedrooms. It also offers amenities such as a gym, café, billiards room, self-service laundry, mini-cinema, children’s play area and breakfast lounge. Free wifi service is available in all rooms.

Citadines Michel Hamburg

Citadines Michel Hamburg

Citadines Michel Hamburg is situated in the city’s business district, a five-minute walk from the Rödingsmarkt metro station. Hamburg airport is a half-hour drive.

The property has 127 rooms, including studios and one- and two-bedroom apartments, all with complimentary internet access. Each kitchen is equipped with modern appliances such as microwave oven, refrigerator and dishwasher.

Additional facilities range from breakfast lounge with free refreshments to a fitness room, business corner and meeting room.

Ascott opened its third Citadines Apart’hotel in Germany earlier this year (see news, February 14).


Ascott Kuningan Jakarta

Ascott Kuningan Jakarta is located in the city’s central business district, and is a part of Ciputra World 1, a large integrated development consisting of a Lotte Shopping Avenue, an Artpreneur Centre (a museum and art gallery cum theatre) and an office tower.

It takes about 45 minutes to reach the property by car from Soekama-Hatta International airport.

The 185 rooms are a mix of one, two and three bedrooms. There is a kitchen and separate living and dining area, LED TV, bathroom with bathtub and rain shower, and complimentary wifi service.

Facilities include a swimming pool, tennis, basketball and badminton courts, a gym, aerobics room, children’s playground, wading pool, garden terrace, café, resident’s lounge and meeting facilities.

Ascott purchased The Mercer in Hong Kong for US$70 million (HK$545 million), and rebranded the serviced apartment as Citadines Mercer Hong Kong. The revamped property offers 55 rooms ranging from 37 sqm to 63 sqm.

Ascott Macau will open at the end of this year and will be located in the centre of the city, a few minutes away from the Macau Ferry Terminal, Macau International airport and Taipa Island.


Ascott Macau

There will be 110 guest rooms, ranging from 30 sqm to 75 sqm. The kitchens in each room will be equipped with a capsule coffee machine, electric kettle, cutlery, microwave oven and refrigerator.

There will also be a gym, indoor heated and outdoor swimming pool, Jacuzzi, sauna room, resident’s lounge, and three restaurants serving Japanese, Chinese and Western cuisines.

The property will have scheduled shuttle bus services to the Macau Ferry Terminal, and resident programmes for guests


Ascott Culture Village Dubai will open in 2017 within the Dubai Culture Village along the shoreline of Dubai Creek.

The apartments will be near to retail and commercial developments including schools, art galleries, performing arts centres and restaurants. It will also be close to the city’s key business and leisure attractions.

There will be 117 rooms, ranging from studios to three-bedroom apartments, with facilities including a swimming pool, gym and restaurant.


Ascott Culture Village Dubai

Lee Chee Koon, chief executive of the Ascott group, said: “In Dubai, there is a growing demand for luxury serviced residences.

“As our first property in the city, Ascott Park Place, has been achieving occupancies of over 80 per cent, having another premier Ascott-branded serviced residence will allow us to cater to the need for luxury serviced apartments and increase our presence in this cosmopolitan city.”


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.

Furnished apartments for business travelers especially asked in fair cities – mixed concepts from a hotel and boarding house are in trend.

The business travel market is booming in Germany – and so for Serviced Apartments-. With over 1.3 million overnight stays in serviced apartments, the capital Berlin comes first, followed by Munich with 986.000 overnight stays and Hamburg with around 526,000 overnight stays.tophotelprojects

In Berlin there are about 3,700 serviced apartments, about 1,600 in Hamburg and Dusseldorf in just 900. And more apartment buildings will be built according to TOPHOTELPROJECTS, the leading information provider for hotel chains and hotel projects built.
Around 1,100 Serviced Apartment establishments already exist in Frankfurt / Main – and the demand continues rising. According to a study by the company Georg Consulting, there are annually about 360,000 overnight stays in serviced apartments. This corresponds to a market share of around five per cent of all overnight stays in the banking metropolis.

The average lower price for an overnight stay in a serviced apartment after all concepts and stay time is in Frankfurt at 68 euros per night. The average prices range from 80 euros to 200 euros per night. The average operation size in Frankfurt is more manageable with 47 apartments/operation (eg Berlin 56 apartments/operation and Munich 95 apartments/operation).

The last few decades international trend observed an increase of Long Stay Apartments as a result of mobilization and globalization of the economy. Especially workers who must change their location work very often, or for a certain period of time, the so-called “job nomads”, contribute to the Boarding House or Property Serviced Apartments an increasingly important role.

The regional Boarding House markets differ significantly from one another. The reasons for this include the appropriate regional economic structure and thus the trim on specific companies and industries as drivers of the demand for short-term accommodation. In summary shows that the proportion of overnight stays in serviced apartments in banking and trade fair cities are the highest. Most of the times mixed concepts (hotels with built apartments) are made.

The highest market share, measured by the share of overnight stays in serviced apartments in total nights), the global trade fair city of Hanover with 12.6 percent. In Munich, accounts for about eight per cent, accounts for five per cent in Hamburg, Berlin 5.3 percent, 7.1 percent in Stuttgart and Leipzig in 4.6 percent of the total nights on serviced apartments.

Around 80 percent of surveyed providers of serviced apartments estimate the future general market performance as growing. Only about 20 percent expect a constant development. From a market downturn no one assume from the respondents. As for the future in greater demand supply form see 80.5 percent of the surveyed houses a clear trend for mixing concept.

Only a fifth of the surveyed houses keep pure boarding houses for the supply form in the future.


Delhi-based Oravel Stays Pvt Ltd, the company behind the online short-stay accommodation portal, has received an undisclosed amount in funding from Lightspeed Venture Partners, according to Medianama report, citing Oravel’s founder and CEO Ritesh Agarwal.ORAVEL

This funding comes a little over a year after the firm secured funding from a consortium of investors, including startup accelerator Venture Nursery, Everest Flavours’ MD and active angel investor Anand Ladsariya and Nirvana Venture Advisors co-founder Amit Patni.

Founded by Ritesh Agarwal when he was just 16, Oravel connects home owners and property managers with travellers who seek clean, comfortable, affordable places or holiday rental homes. The portal has currently listed more than 3,000 boutique guest homes, inns, bed and breakfasts, serviced apartments, holiday rental and palaces, across multiple locations. The portal is free-to-use for travellers and also features listing reviews. Oravel was incubated at Venture Nursery in 2012

Last May, Agarwal had won 20 Under 20 Thiel Fellowship for 2013. The fellowship, which picks 20 individuals who are aged under 20, provides $100,000 each to the selected ones besides mentorship from a host of entrepreneurs, investors and thought leaders including PayPal co-founder Peter Thiel, Napster founder Sean Parker and Tesla Motors founder Elon Musk.

Late last year, Lightspeed had invested $550,000 in New Delhi-based Phone Warrior Pvt Ltd which offers a mobile spam control app.

Serviced apartments are an increasingly popular solution for companies needing to accommodate their relocating employees.

As the market matures, the concept is becoming more sophisticated, with more choice and more types of accommodation.

Jo Redman, marketing director of SACO, discusses some of the options available, and explains why a two-bedroom apartment can be the ideal choice for employer and employee

You’ve discovered serviced apartments as a concept – you understand the benefits and think they are a great idea for accommodating your assignees. But now you have to choose the type of apartment you want.

You may be thinking, “What do you mean, ‘the type of apartment’; I just want to book an apartment?” So here are a few quick pointers to help you on your way.apartment

There are three main types of apartment:

Studio apartment – Here, you get a combined living/sleeping area (the bed is in the living room), with a kitchen off to the side, and a separate bathroom. Easy and compact living – usually the most cost-effective option, but not always ideal when accommodation is needed for more than a week or so.

One-bedroom apartment – Does what it says on the tin: you get one bedroom with a double bed, a bathroom, and then typically a combined living/dining area with a fully equipped kitchen. Perfect for one person or a couple.

Two-bedroom apartment – Obvious, really – two bedrooms and typically two bathrooms, one en-suite and one family bathroom, plus a good-sized living/dining area and, again, a fully equipped kitchen. But here’s the buzz – the extra space gives you a lot more flexibility, which is why two-bedroom apartments are so popular.

Perfect for one person or a couple who need extra space. Perhaps they have a lot of luggage and possessions to store and spread out. Maybe they need the extra bedroom as a study/work room, or perhaps friends and family are coming to stay

Ideal when there are small (or younger) people to consider as well – that is, babies and children. The second bedroom can, of course, then be used as the nursery, kid’s room or teenage bolt-hole. Whichever way you look at it, privacy and space for all

A great idea if two professionals/employees are being sent to the same location to work. Book them a two-bedroom apartment – they get the space and privacy of their own bedroom and bathroom, and then share the living/dining/kitchen space. This is win/win – a cost-effective solution for the company (a two-bedroom apartment for two people is cheaper to book than two one-bedroom apartments), plus ready-made flatmates for the two employees dropped into a new location. They get to live together, but can easily retreat to their own space as well. Think graduates, young professionals, interns, project team workers – accommodating more than one person just got really easy!

Of course, there are other types of apartment as well.

Three- and four-bedroom apartments tend to be few and far between, the number of bathrooms will vary, and the living space generally increases in size as the number of bedrooms goes up.

‘Duplex’ usually means that the apartment is split over two floors, so a flight of stairs is involved when going to bed or getting to the living room/kitchen. A duplex could have one, two or any number of bedrooms. Any good serviced apartment company should state the number – for example, ‘a duplex two-bedroom apartment’.

Sometimes, a two-bedroom apartment may only have one bathroom – again, the serviced apartment company should make this very clear in their information.

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Are you a travel enthusiast? Well, though you always want to go for luxurious hotels when you plan for a trip to your favorite destination but do not forget that serviced apartments have now come a long way. There are top 9 benefits to what you can get in your serviced apartment that can enhance your stay:

  • Mostly all the serviced apartments now are equipped with a dining area, kitchen room and bathroom.
  • You will find apartments with the best quality furniture equipped in each room so that you live in utmost comfort.
  • You will not miss to see any electronic equipment from a washing machine, to TV, microwave, refrigerator, electron iron and so on so that you enjoy a luxurious experience.
  • You will not miss any essential kitchenware in your kitchen from a stove to microwave oven, all the daily cooking utensils and so on.
  • In serviced apartments, you will get the facility of washing machines so that you do not worry about your used clothes during your stay.
  • You will be provided with a weekly or bi-weekly maid service.
  • You will get all the privacy and comfort that you might be seeking at your stay. No need to clean  the toiletries, bed linen, towels or anything as you will be provided with every cleaning facility to keep you work-free and stress-free while you are at your vacation at a service apartment.
  • Connectivity will also not be a hassle as you can commute to any location very easily through public transports or with your own vehicle. Stay at your comfort.
  • As serviced apartments offer utmost security to their guests, you will never need to worry about your family and your belongings or any unknown invasions in your absence.

You will actually find that you are getting all the comforts of a hotel at your serviced apartment and that too at a much cheaper cost. Therefore, when you plan to book a service apartment do not forget to consider:

  • The Access to transport as the place will be new for you.
  • Requirement of any documentation work prior to the departure.
  • Facility of safe parking if you are taking your vehicle.
  • Payment rates of your serviced apartment.

These are only a few factors, there are more that you must consider prior to booking your serviced apartment. Serviced apartments provide you all the comfort, convenience and luxury that you seek in hotels. However, when you are getting all the privacy and additional comforts in your service apartment, your chances of enhancing your traveling experience to that destination will be much more. So, do not waste any more time in thinking, make your best stay at a perfect serviced apartment. All you need to do is, invest some time over the Internet and get acquainted with the most well-known serviced apartments at your favorite destination and you will eventually come across the one fulfilling all your requirements

Infography by : @timscottseo


Oakwood Worldwide, the global leader in corporate housing and serviced apartments, recently expanded its relationship with Mainsail Lodging and Development by signing the company as its first Oakwood® brand franchisee. Mainsail, based in Tampa, Fla., will exclusively manage the Florida market for Oakwood Worldwide under both its ExecuStay® and Oakwood brands, helping the company expand its property offerings to meet the ever-changing needs of its customers.
oakwood worldwide
Oakwood Worldwide chose to broaden its partnership with Mainsail, a current ExecuStay franchisee, because the company’s commitment to excellence closely aligns with Oakwood Worldwide’s dedication to maintaining consistent high quality standards for accommodations and services. Additionally, Mainsail has a strong reputation as a corporate housing provider in Florida, with extensive knowledge and expertise in local markets throughout Florida. Mainsail also franchises the ExecuStay brand in a number of other markets, including Georgia, South Carolina, North Carolina and Alabama.executStay

“To remain competitive, we must continue to expand our footprint and offer our customers a wide array of corporate housing options,” said Ric Villarreal, president of Oakwood Worldwide. “Working with Mainsail has expanded our market knowledge in Florida allowing us to offer customers the benefit of our local expertise. We are completely confident they will be successful operating and growing the business in the Florida market.”

Oakwood Worldwide’s relationships with franchisees and suppliers are an important part of the company’s strategy to expand in key markets, enabling Oakwood Worldwide to offer more corporate and serviced apartment options in the United States, as well as in established and emerging markets around the globe.

“ExecuStay and Oakwood are the corporate housing industry’s leading brands and a significant part of our growing lodging portfolio,” said Jana Collier, managing partner for Mainsail Housing. “This franchise agreement is exciting because it strengthens our position in the marketplace and allows us to further our relationship with the innovative team at Oakwood Worldwide.”

The Ascott Limited (Ascott), has been conferred the coveted Business Superbrands status in Singapore. Business Superbrands is an internationally recognised accolade which pays tribute to the best and most valued business-to-business brands around the world. Ascott is the first serviced residence company to receive this recognition.

superbrands singapore

The accolade is presented to brands that have met the stringent standards set by the Superbrands organisation in the areas of achievement, innovation, market share, reputation and corporate social responsibility. Brands were evaluated by Superbrands’ independent panel of marketing and branding experts as well as senior business leaders. Some of the notable brands that were accorded Business Superbrands status last year were SAP, IBM, Microsoft, Canon, SingTel and Singapore Airlines.

Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “Being the first serviced residence company to be recognised as a Business Superbrand has further cemented Ascott’s position as the industry leader. Ascott pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore along Scotts Road in 1984. We have since grown to be the world’s largest international serviced residence owner-operator. Our target is to increase our brand footprint to 40,000 apartment units globally by 2015.”

Mr Lee added: “As we expand, we ensure that we give back to the local communities in markets where we operate and we also launch various innovative initiatives to enhance the Ascott experience for our customers. This Business Superbrands accolade goes to our staff for their dedication and hard work, and we will continue to strive to do better.”

Mr Mark Pointer, Chief Executive Officer of Superbrands Singapore, said: “To achieve Business Superbrands status, companies must have established the finest reputation in their fields, gain significant market share and attain a high level of brand recognition to be able to qualify. Achieving Business Superbrands status means that Ascott is seen as more trustworthy, of higher quality and has a better reputation.”

“Ascott is a renowned global serviced residence provider that offers high quality serviced residences across many of the world’s most vibrant cities. We are delighted to recognise Ascott as one of Singapore’s leading business brands and we pay tribute to the management and all of the people who work behind the scenes to build the business and the brand,” added Mr Pointer.

In Singapore, Ascott currently operates more than 700 apartment units in seven properties. Ascott opened Ascott Raffles Place, its premier serviced residence in Singapore, in 2008 after a S$60 million restoration effort.

Ascott had carefully preserved unique features of the former Asia Insurance Building which was Southeast Asia’s tallest building in the 1950s while transforming it into Ascott Raffles Place. In 2009, Ascott brought its Citadines brand to Singapore with the opening of Citadines Mount Sophia. Citadines is an established chain of apart’hotels in Europe which Ascott acquired in 2002. Besides Ascott Raffles Place and Citadines Mount Sophia, Ascott also operates Somerset Bencoolen, Somerset Liang Court, Somerset Orchard, The Heritage and Riverdale Residence in Singapore. The company will be opening another prime serviced residence in the premier shopping and lifestyle district of Orchard Road in 2017.

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Average weekly rates for serviced apartments during the past two years have increased moderately to significantly in several key cities, according to a new report issued by London-based supplier Apartment Services.

In the United States and Canada, two regions that jointly account for about 63.8 percent of the world’s serviced apartments market, which includes both extended stay hotels and corporate apartments, supply since 2011 has increased by 10.6 percent, according to the report. While newly constructed extended stay supply is at a “record low” in the United States, hotels in 2012 added more than 350,000 extended stay units through rebranding efforts. The U.S. corporate housing industry, in which occupancy for the past four years has hovered around 88.6 percent, also grew by 2.7 percent year over year in 2012.

From 2011 to this year, the average weekly rate for a studio unit increased by 5 percent in New York and by 4 percent in Toronto, according to the report.

In Europe, the world’s second-largest serviced apartments market, the average weekly rate for studio units was up in several cities, including Madrid (13 percent), Moscow (8 percent), Paris (6 percent), London (5 percent) and Amsterdam (3 percent). Rates decreased in Frankfurt (down 4 percent) and Lisbon (down 1 percent).

In the Middle East, where serviced apartment rental rates are among the world’s highest, the average weekly rate for a studio unit in Dubai increased by 10 percent, according to the report.

Serviced apartments in some Asian markets during the past two years have become cheaper, including Singapore (down 5 percent) and Mumbai (down 2 percent). Other markets have seen increases, including Shanghai (up 3 percent) and Bangalore (up 19 percent), and rates in Hong Kong have remained flat during that period.

In Australasia, extended stay demand has grown significantly as companies in the region have been expanding, requiring more travel for their employees and consultants, according to the report. The average weekly rate at studio units increased by 22 percent in Sydney and by 20 percent in Auckland since 2011.

On a global basis, the report indicated that though most bookings—80 percent—for serviced apartments now are online, suppliers largely have kept their inventory out of global distribution systems. More than 60 percent of global serviced apartment inventory currently is not available through GDSs.

“Operators are increasingly frustrated by the fundamental issues of identifying a serviced apartment within the GDS, having sufficient inventory to offer through the channel and the short-stay nature of GDS bookings,” according to the report. “Serviced apartment operators continue to feel pressured to adopt conventional hotel-centric booking processes to attract transient corporate travelers via corporate programs or online channels. However, the fees inherent in both GDS and online travel agencies are often prohibitive for smaller serviced apartment operators.”


Quest Serviced Apartments has emerged as the fastest growing serviced apartment provider in the world, although the sector remained in short supply in the Australian market in 2012.PaulConstantinouQUEST_140

The Global Serviced Apartment Industry Report 2013/14 revealed that the Australian company’s supply has risen by 28% in 2013 as compared with 2011.

It is followed by US-based Oakwood with 21.3% and Singaporean firm Frasers with 9.2%.

Other major players in the Australian market, after Quest, were revealed as Oaks Hotels & Resorts, the Mantra Group and Mirvac which is now part of Accor.

“Corporate customers are increasingly doing their business outside of major city centres, gravitating towards regional and suburban hubs where government infrastructure is supporting industry growth and development,” it said.

“In turn, this is driving demand for extended stay accommodation.”

However, the report also found that Australian serviced apartments remain in short supply as demand grows.

Global economic conditions present a major challenge for the sector with banks reluctant to fund new developments. In fact, the report found that, despite Australasian growth of 14.5% in the number of apartments since 2011, Australian serviced apartment supply actually declined in real terms against demand in 2012 after over a decade of consistent growth.

Operators highlighted obstacles as restrictive local planning schemes, excessive bureaucracy and lack of understanding around investment models with funding, land availability and competition from other property sectors also factors.

“The difficulties operators encounter raising the necessary capital for their projects reflects Australasia’s financial markets’ lack of understanding of serviced apartments,” Quest executive chairman, Paul Constantinou, said.

But despite these challenges, the sector will grow to 30% of the total Australian accommodation market in the coming years – up from 25% at present, and up from 10% in 1999.

In addition, it is expected to outperform the hotel sector over the next three years, according to Atchison consultants. The company has forecast returns of between 13% and 15% for serviced apartments as compared with between 10% and 11% for hotels.

Meanwhile, Australasia was revealed as the most expensive region in which to stay in a serviced apartment with studio apartments starting from US$114 per night.

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