SERVICED APARTMENTS
TEAMS CAN LODGE NEAR EACH OTHER, LETTING THEM CONNECT AND SOCIALISE
is with airlines. Guests will be able to select rooms prior to arrival, receive invoices and pay online.”
All this activity has changed the way serviced apartments are perceived as they have become more accessible to the corpo- rate world. Sean Worker, chief executive of BridgeStreet, says the concept of serviced apartments is changing. “Instead of being a sterile, reliable and uninteresting corporate environment, today it’s more accurate to view these as alternative accommodations. Communal areas have evolved into casual working environments. The evolution that comes with it has begun to make it a personal choice for these travellers on holiday. That’s a proof-point we like to see.”
VALUE PROPOSITION Ever since the early 1980s when the serviced apartment concept crossed the Atlantic, it has been positioned as a “home away from home”. But with travel and relocation man- agers focusing more on total trip cost, what’s the value proposition for the corporate and the business traveller? The cost-efficiency benefits of serviced apartments over hotels are quantifiable but, as Caroline Saunders of SilverDoor confirms: “When booking accommodation, consumers generally have the overall cost of the trip in mind. Many companies are now focusing on how accommodation can cut total costs.” Oakwood’s Moore agrees that a welcoming environment is a strong sales message for the sector, but “companies need to take into consideration the entire cost of the stay of relocat- ing and travelling employees, while also considering which environment will allow the traveller to settle in quickly.” Unlike hotels, serviced apart- ments are often close to work sites, saving time and money, and maximising productivity. “Teams can lodge near each other, letting them connect and socialise in a community-based environment. This keeps rates stable, often not the case with a hotel, especially during peak periods,” Moore says. Worker at BridgeStreet doesn’t
NEW SERVICED APARTMENT BRANDS Lyf One-North Singapore
n CHEVAL has created the tri-brand Cheval Collection, comprising Cheval Residenc- es, Cheval Maison and a third, as yet unnamed, brand. The London-based company says the brands herald the expan- sion abroad of its upmarket serviced apartment business.
n THE ASCOTT’S LYF BRAND is a new co-living concept that offers an array of social
buyingbusinesstravel.com
spaces that foster community living. Lyf One-North Singa- pore will offer 324 units when it opens in 2021.
n STAYCITY’S The Wilde Expe- rience launched last year on London’s Strand and is rolling out in Edinburgh and Man- chester. It employs the latest technology, including touch control panels, remote check- in, and unlimited free wifi.
believe the “home away from home” proposition has changed. “It’s just business travellers are
savvier. Generation Y and millennial travel- lers want an authentic experience. It creates better morale and improves productivity. Travel managers love that they’re providing better spaces at lower cost, in many instances up to 30 per cent less.”
SUPPLY CHAIN EVOLUTION Oakwood’s Moore believes that the industry is witnessing “an evolutionary disruption in the standard of the annual hotel Request For Proposal process that’s traditionally been a part of many corporate travel programmes. The inclusion of serviced apartments is not just an addition to the supply chain. It represents a change in mindset that requires different technology, deal parameters and expectations on the part of guests.
2019 MARCH/APRIL 119
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