The concepts like hotels, hostels and even different forms of homestays have long been parts of the hospitality industry, which, just like every other sector, has been incorporating new elements to its course. Needless to say, serviced apartments (and there are different types, based on what they offer) as a later addition only appeared in the 1970s. However, the kind of worldwide growth and popularity they have experienced is remarkable – given, the hotels have also been adding more to their offerings.
No matter how much more than anticipated, their success wasn’t inspired by vacuum. There are solid reasons why they have become the most preferred hospitality establishments over the time. According to many, these reasons would also be responsible why serviced apartments would take over the hospitality industry. Here they are –
More than anything else what makes these extended stay homes special are their services. Arguably they are the latest version of what the hospitality industry has to offer. Let’s not forget that hotels have always been the option when there was no alternative accommodation. Who would be happy with congested rooms at unfair costs and not want a complete home – fully-equipped kitchen with co-working environment at an affordable price? These apartments are like the virtual offices of offshore companies. Wherever you go, you have your own address in prime locations, your own place of work; and in this case, a place to call your home.
Yes, without flexibility and freedom you cannot call a place home. The reason for this is not of the services, but a self-recognized contributing factor to the success of the serviced apartments is because luxury always does not come with comfort. Sometimes even if you get a pricy luxury hotel that has most of the amenities you want for a short stay, you still have to stay in a structured way. Meeting people, inviting guests or maybe organizing an informal event as a business strategy wouldn’t work in the hotel- or maybe you have to pay extra or just use the lobby. On the other hand, you can welcome guests into your temporary home just like your own house without unnecessary restrictions. The same flexibility remains intact even while checking out- just do it whenever you want.
The Volume of Corporate Travel
Business travelers were the first group of people that started using service apartments. Although families and groups that travel together, and medical tourists are also the regular users of such platforms, it is the corporate travelers that most influence the success of the serviced apartments. As the volume of business travels has gone multifold in recent times, such accommodations are increasingly frequented by customers that find everything in one place to carry out a successful business trip. In a way, because of the option of such accommodations, people are more willing to travel than before.
Peer to Peer Recommendations
This can be called as a mode of snowball consumption. Earlier due to lack of technology, and not having the right information, people did not know if they are using the best, neither could they recommend something. In today’s time, however, people not only are aware of what is best but do not back out from recommending others in the peer group as well as others through online reviews. If you went somewhere for treatment and picked a serviced apartment which helped you find the perfect place to recover in peace, you definitely would let others know about it, wouldn’t you? When the scale of these recommendations is high, it would naturally reflect on the success of the serviced apartments.
The Nomadic Work Culture
The dynamism of the market of the current era and certain lifestyles have produced and guided the nomadic work culture to flourish all over the world. And simultaneously, the existence of the serviced apartments have proved to be compatible with the nomads’ preferences while living and working in a new city for a short time. A perfect balance between work and life, getting inspired to be more productive in a vibrant environment and increasing sociability while meeting people – everything seems to be possible at serviced apartments.
Call it a natural evolved stage of hospitality industry or a response to the diverse requirements of customers from different background while looking for accommodation, serviced apartments seem to be taking the center stage. Within a few decades they have become models for hotels to modify themselves. This is enough to predict that serviced apartments and other alternative accommodation would take over the hospitality industry – sooner or later.