The industry has changed considerably

The 2018/19 edition of the Global Serviced Apartments Industry Report has recently been published. For every GSAIR an in-depth survey of corporate travel managers, agents and serviced apartment operators is undertaken. This yearly survey with facts and figures concerning the global serviced apartments industry was carried out amongst 6,000 corporates, 2,000 serviced apartment operators and 1,800 agents. The rate of growth in serviced apartment usage for business travel, assignment and relocation purposes have maintained their upward trajectory. Over half of corporates now use serviced apartments for business travel, with 39.7% of corporates allocating up to 20% of budget to extended stay. According to HVS, over 10,000 serviced apartments will be built in Europe between the middle of 2017 and 2020.