For example, in Germany, offices in the top six
cities remain prohibitively expensive, so the financials for conversion would only work with inflated rental sums. Operators therefore need to tread with caution. However, there are significant opportunities for those who know where to look. “In London – one of the most expensive cities in the world – we continue to source amazing opportunities to transform tired old assets into cutting-edge buildings,” he says. In Europe, the pressure to find flexible short and long-
term accommodation in budget for relocating individuals and families is still a challenge, with relocation experts finding difficulties across a variety of regional markets. In its latest report on the European housing market, Crown World Mobility reveals that price rises and supply shortages are adversely affecting Switzerland, Sweden, the Netherlands and the UK in particular. “Across Europe, the housing market continues to
present challenges for anyone seeking to relocate or for organisations coordinating assignments on the continent,” it says. “In Switzerland, we’re seeing a tough market for both temporary and permanent housing due to skyrocketing prices. We see Sweden having similar pricing and demand issues in all of its main cities. In the UK, clients are met with dizzying prices as they shot up by 11% in London over the last 12 months.”
SERVICED APARTMENTS RAISE THEIR GAME TO COMPETE WITH HOTELS “Serviced apartments are winning over hotels by offering more spacious, home-like comforts, which are ideal for extended stays,” Carrie Hartman says. “Amenities like kitchens and living areas that cater to the needs of long- term guests offer a much better value for money.” Providers are also looking at ways to provide
greater inclusivity for different types of guests, as well as offering the highest standards for employer duty of care. Travel managers can leverage technology
to access real-time safety information about serviced apartment locations worldwide. “Our partnership with GeoSure provides a detailed
overview of various safety metrics, including women’s safety, LGBTQI+ inclusion, political freedoms and more,” Carrie says. “Similarly, our collaboration with Dun & Bradstreet allows us to conduct weekly supply- chain assessments to identify any ‘red flags’ that could affect an employee’s stay, such as issues related to the financial health and business practices of our suppliers.” Markus Feller, CEO at employee and guest
experience tech platform Like Magic, says it is crucial for serviced apartments to cater to diverse guests to remain competitive. “This can be as simple as incorporating accessibility features such as ramps, wide doorways and automated systems for guests with disabilities,” he says. Additionally, AI-driven personalisation and guest- messaging platforms can address specific preferences, dietary restrictions and cultural considerations, ensuring every guest feels welcome. “Serviced apartments win on flexibility and practical
comforts compared to hotels, offering a home-like environment, but with the quality guests expect from hotels,” he says. This appeals much more to mid- to long-term guests and to business travellers seeking comfort and efficiency. “Serviced apartments that have been able to maintain
operations with minimal staff – all while maintaining exceptionally high service standards – are without doubt winning over traditional hotels when it comes to appealing to those looking for extended stays.”
Credit: 3Sixty Apartments
WHY TECHNOLOGY IS A GAME CHANGER FOR THE SECTOR While technology offers huge cost savings and efficiencies, few guests are ready for the fully remote experience, especially when moving into a new city for an extended length of time. This is why Bob W has chosen to blend technology with human interaction to use its workforce most efficiently while still delivering a good guest experience. There’s no queuing for passport checks and customers can reserve an early check-in or late check-out months in advance. “We’ve all endured queuing at a hotel reception lobby
– why is this still happening?” says Philip, who also sees AI as “a game changer”, but says it is too early to offer a completely remote technology solution. “It should come as no surprise to hotels that guests will actually turn up in person, so why not streamline the process by allowing pre-check-in that grants direct access to your room, eliminating the need for redundant queuing? This makes even more sense when we consider the cost of employment has outstripped the increased daily room rate charge.” Roughly 75% of Bob W’s apartments have kitchen
facilities while around 25% of the inventory have shared kitchens. Room-only options continue to be appealing, with a strong market presence. However, for longer stays, such as business trips, the added flexibility of having
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