12 AUGUST 2013

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Article from BTNews 12 AUGUST 2013

UK serviced apartments

Figures just released by the Association of Serviced Apartment Providers (ASAP) confirm that the sector is reporting a strong performance for Quarter 2 (April-June) this year, recovering well from the challenging first three months.
 
The average overall occupancy for London was 86% – a 10% increase on Quarter 1, with June delivering an impressive 90% occupancy.  The average net weekly rental rate in London was £1,166, an eight percentage point increase on the first quarter figure of £1,076.
 
For the rest of the UK the average overall occupancy for Quarter 2 was 81% with June again recording the strongest occupancy of 84%.  The average net weekly rental rate for the regions was £614, representing a four percentage point increase on the first quarter (£591).

ASAP currently has 58 members across the UK and Ireland representing in excess of 12,000 apartments.  The Association is holding its second annual Serviced Apartment Conference & Exhibition on 4 December at the Grand Connaught Rooms in London with an expected attendance of 250 delegates.

Joanna Fisher, Regional Director of Ascot Hospitality, who is not a member of ASAP, says that their policy of concentrating on London is paying off. “We are having a very good year to date”, she said. www.theasap.org.uk www.the-ascott.com

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