The Business Travel Magazine April/May 2019

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SERVICED APARTMENTS 24 THEBUSINESSTRAVELMAG.com
SERVICED APARTMENTS RAISING the roof As serviced apartment stock booms and suppliers become more innovative, should corporates be moving more of their spend into the sector? Catherine Chetwynd reports T he serviced apartment sector goes from strength to strength: larger European operators have grown at an average of 6.1% per year in unit numbers, a figure that is due to escalate to 39.4% before the end of 2022, representing more than 13,000 units. And the UK accounts for one-third of planned European growth. Accor, Staycity and SACO are main contributors to this, largely thanks to their lifestyle-focused brands, according to Savills’ Spotlight, European Extended Stay Market report. Main UK cities of interest are London, Manchester and Edinburgh. And Dublin, to date desperately short of stock, is expected to grow by 1,484 units in eight projects by 2022, including several projects from Staycity and SACO’s Locke. Further opportunities for serviced apartment operators include a group of high-growth cities: Oslo, Stockholm, Madrid, Edinburgh and Dublin, plus Tallinn, Warsaw, Sofia, Berlin, Budapest and Porto, according to Savills, Oxford Economics and official local tourist office statistics. Favoured destinations tend to be those where there is notable tourist arrival growth and a strong GDP outlook, so operators can tap into both the leisure and corporate markets. Although the sector has become a recognised asset class, the main deterrent for investors is the lack of purpose-built stock, although operators are now pursuing expansion through new development. Staycity’s acquisition of developer Pretique is a good example. It will build its own sites, alongside those with partners, to secure sites and stop having to acquire leases. ZOKU THEBUSINESSTRAVELMAG.com 25
Page 1 and 2: 75 April/May 2019 fit for purpose W
Page 3: ARRIVALS Contents APRIL/MAY 2019 38
Page 6 and 7: ARRIVALS OPENING SHOTS Eye-catching
Page 8 and 9: ARRIVALS EVERYONE'S TALKING ABOUT..
Page 10 and 11: ARRIVALS SIX OF THE BEST Six of the
Page 12 and 13: awards meet the winner Martin Hayes
Page 14 and 15: Traveller wellbeing SOUL purpose Ho
Page 16 and 17: Travel and Events We’re with you,
Page 18 and 19: Xxxxxxx Traveller Xxxxxxxx wellbein
Page 20 and 21: THE CONVERSATION Chief Executive, F
Page 22 and 23: THE BIG PICTURE Bleisure centre TOK
Page 26 and 27: One agency 7 global offices 1,096,5
Page 28 and 29: Los Angeles Rio de Janeiro Mexico C
Page 30 and 31: SERVICED APARTMENTS long-stay disc
Page 32 and 33: SERVICED APARTMENTS At a time when
Page 34 and 35: EVENT PREVIEW The Business Travel C
Page 36 and 37: TECHNOLOGY [ DUTY OF CARE ] DISRUPT
Page 38 and 39: CONSULTANTS HELP is at hand When ti
Page 40 and 41: TALKING TRAVEL Going global Kevin M
Page 42 and 43: The Business Travel Magazine Golf M
Page 44 and 45: THE REVIEW T H E L O W D O W N TMC
Page 46 and 47: THE REVIEW I N T H E A I R Average
Page 48 and 49: THE REVIEW R O O M R E P O R T QuEE
Page 50 and 51: THE REVIEW O N T H E G R O U N D Dr
Page 52: THE REVIEW O N T H E M O V E EVENTS
Page 55 and 56: IT's a significant area of spend fo
Page 57 and 58: Introduction / Rail travel This aut
Page 59 and 60: F R E E W I - F I ON ALL OUR TRAINS
Page 61 and 62: £ Spend management / Rail travel
Page 63 and 64: Hello Business Hello Business Direc
Page 65 and 66: Spring Sparkle PA & EA Networking E
Page 67 and 68: Operator update / Rail travel Inves
Page 69 and 70: Operator update / Rail travel optio
Page 71 and 72: WE’RE BETTER CONNECTED. Travel by
Page 73 and 74: Booking tools / Rail travel THEBUSI
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The rail API trusted by leading bra
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Overseas / Rail travel [ INTERNATIO
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CONFERENCE
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DEPARTURES Meeting in Liverpool Hom
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DEPARTURES On business in... Singap
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DEPARTURES Economic and Trade Agree
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Box, Box, Box... We enable agencies
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DEPARTURES FLIGHT: BRITISH AIRWAYS,
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Business & leisure in equal measure
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The Business Travel Magazine April/May 2019

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