The sector has been forecast to double in size over the next two years

Aparthotel from Bridgestreet, the Prem Group’s Premier Suites and Premier Suites Plus, and Apple Apartments’ Exclusive brand, which features only luxury properties.

Such moves are no doubt also designed to respond to the threat posed by Airbnb, which facilitated 40 million stays in 2015. Airbnb isn’t just a home-stay platform for peerto-peer transactions but a way of distributing serviced apartments. Last year, global operator Bridgestreet was the first to partner formally with Airbnb’s corporate programme, Airbnb for Business, which means its inventory can be booked by Airbnb clients. Airbnb has had a positive impact on the sector in that it has made people more accustomed to staying in apartments for leisure, and so perhaps more comfortable doing it for business as well. This year’s Global Serviced Apartments Industry Report revealed that 88 per cent of companies now used apartments for “one business reason or another”.

However, it hasn’t been welcomed by everyone. Thomas Emanuel, director of business development at hotel data specialist STR Global, says: “Some [serviced apartment] brands are embracing it and others aren’t. There are areas that are concerning in terms of taxation, and health and safety, but ultimately operators will have to adapt.”

Overall, Kett believes that Airbnb has raised the sector’s profile.“In the same way that Uber and the black taxis of London are at loggerheads, it’s a similar issue with Airbnb,” he says.“The sharing economy is here to stay. It is bringing in new customers, and expanding the market. I think it’s a complementary opportunity, not a contradictory one.”