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Serviced apartments have found a permanent home with travellers, according to Cheval Collection’s latest travel survey.
The survey, which analysed the responses of more than 2,200 travellers, found that 68% of respondents were likely or very likely to book a serviced apartment when staying in either London or Edinburgh.
This was only 2% lower than during 2020, when demand for serviced apartments was at its peak as guests looked for accommodation where they could have guaranteed space and privacy.
As travel recovers globally, the Cheval Collection said it has seen a return to pre-pandemic levels as guests “remain eager to enjoy that personal space, aligned with high-end service, as they explore again”.
Daniel Johansson, director of development and acquisitions, Cheval Collection, said: “Investors have realised that serviced apartments are no passing fad and we are now talking to a number of owners and developers as we expand across dynamic cities around the world. Demand is building for serviced apartments with experienced operators who can deliver high-quality stays in luxury environments.
“But we’re nothing in the eyes of guests or investors without our reputation. The survey found that 90% of respondents said that positive online reviews from previous guests were very important or important; the most relevant of all the possible considerations for travellers.”
He added: “As we celebrate our 40th year this year it is a great accolade to all our teams that we have so many loyal guests who return repeatedly. This feeds into our direct bookings, which help us build a picture of our guest’s desires and grow our relationships with them. In line with the rest of the accommodation sector, we have also seen expectations about what comes with using our system over an OTA or other agent change over the past two years.”
When asked about their paid accommodation preferences, 66% of respondents said they would choose to book directly with the accommodation where possible, and of those who were likely to book direct, 79% expected to receive the best rate and 55% expected more flexibility.
Some 42% of respondents said they would be unlikely to book a non-refundable rate which tied in with the almost 90% for whom the availability of a flexible rate was important. Johansson said: “When you have a good relationship with the guest and you are the favoured booking channel, it is that much easier to offer something which works for everyone.”
Finally, a combined 82.2% of respondents said that they expected to make between one and four domestic leisure trips in the next six months, with 78.5% planning one or more international leisure trips over the same period. There was also an increase in businesses looking to serviced apartments for their teams while travelling
Johansson concluded: “During the pandemic we’ve all come to value the freedom of travel and the freedom to stay how we want – and a return to hospitality. Our survey illustrates that, for guests, this often means serviced apartments.”
