Serviced apartments on the rise

London luxury serviced apartment specialist Cheval Residences is adding 11 new apartments to its Cheval Knightsbridge residence this month.

This follows the opening of Cheval Three Quays and Cheval Harrington Court in South Kensington in 2014. This latest addition comes as the sector anticipates considerable growth with industry association ASAP predicting a doubling in size by the end of 2015.

London is under-represented in the serviced apartment market when compared with other major cities. George Westwell, Director of Cheval Residences, adds: "Business travellers may be unaware of the incredible value and benefits serviced apartments offers. Our research shows that accommodation of 64sqm at Cheval Three Quays or Cheval Phoenix House would cost £271 (excluding VAT) for the night whilst a comparable 5-star hotel could cost £475 per night.  That is two-thirds the size and a much higher cost.”

The company’s portfolio comprises a collection of eight luxury serviced residences across London ranging from one bedroom apartments to three-bedroom townhouses all of which include dedicated concierge and maid service. www.chevalresidences.com

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The Apartment Service are the publishers of the Global Serviced Apartments Industry Reports. The reports look at the global rise of this industry. The 5th edition has just been published and a complimentary copy can be requested by sending an email to: gsair@apartmentservice.com