The ser­viced apart­ment sec­tor just keeps on grow­ing...

The 2018 Guide to Serviced Apartments - - CONTENTS -

The sec­tor in num­bers

Our UK ser­viced apart­ment sec­tor has per­formed well in 2017,” says James Foice, CEO of ASAP.

“As the STR data con­firms, Lon­don has achieved a 12.4% in­crease in ADR at £203.05 – and an over­all oc­cu­pancy of 84.5%, up to 30 Septem­ber 2017 – although there are signs that de­mand is soft­en­ing in the fi­nal quar­ter in view of the sig­nif­i­cant in­crease in sup­ply.

“For the UK over­all the oc­cu­pancy per­for­mance is 82.1% – a more mod­est +1.1% in­crease on last year, with the ADR at £150.31. This re­flects the in­crease in sup­ply in key cities in the rest of the UK such as Manch­ester, Birm­ing­ham and Liver­pool.

“It’s hugely ex­cit­ing to see so much ex­pan­sion in the sec­tor with a +17% in­crease in new stock planned by 2020 for the UK and Ire­land which rep­re­sents 3,677 new ser­viced apart­ments in 47 prop­er­ties.”

Data cour­tesy of data and an­a­lyt­ics spe­cial­ist STR

Data kindly sup­plied by Sil­verdoor

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