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16 FEBRUARY 2015

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Article from BTNews 16 FEBRUARY 2015

Serviced Apartments

In a statement prior to the Business Travel Show (See See ON TOUR – The Business Travel Show in this issue) the Association of Serviced Apartment Providers (ASAP) says it is confident of doubling its size by the end of this year, as it reported membership up to 90 (from 74 in 2014), a 20% increase during the last quarter.
 
James Foice, Managing Director of ASAP, said the new members were a mixture of significant multinational businesses and smaller independents, making it clear that “ASAP is the dedicated and recognised representative for our sector in this country.” He added: “Four new members joined in the last fortnight alone.”
 
Foice said that membership growth was mirrored by new serviced apartment units coming on stream. To date we know of nearly 850 new apartments being opened during this year, a 6% increase on the current stock, but we expect that figure to rise substantially.”
 
ASAP members continue to achieve high occupancy.  In 2014 the average occupancy in London rose to 84.5% (a 2.1% increase on 2013) while occupancy for the rest of the UK rose to 81.9% (a year-on-year increase of 2.6%). www.theasap.org.uk

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