Northstar

FEATURE www.travelweeklyweb.com Serviced apartments on the rise By Natalie Chen Serviced apartments are becoming more popular and more travellers are choosing them over hotels. Travellers are finding them a viable choice of accommodation for long periods of stay. According to Ascott, the majority of its residents are on extended stay, and its serviced residences have enjoyed healthy average occupancy of around 80 percent in 2010. As for Frasers it has seen occupancies and rates increase over the last 12 months. From London to Sydney, China to Singapore, it s occupancies have averaged at more than 85 percent throughout the year. This is due in part to the upswing in the economic climate as well as the fact that serviced residences are now considered a good alternative to shorter and long term stay. Occupancies are expected to remain strong and RevPAU to improve as long as economic conditions continue to stabilise. Companies are increasingly sending in project groups and business travellers are not limited to the upper echeleon of management, middle and junior management are also hitting the road. "For savvy travellers, serviced res idences provide a homely, spacious and affordable alternative to the typical hotel room. It is this feeling of staying at a 'second home' that draws people to serviced residences. With separate living, dining and sleeping areas and a fully equipped kitchen, our residents enjoy a lifestyle that is a lot closer to what they experience back home. For gues t s t r avelling with families, friends or colleagues, ser viced residences of fer the flexibility of sharing an apartment instead of booking multiple rooms in a hotel. By opting for a serviced Citadines Apart'hotels residence, they can enjoy more living space and the privacy of individual bedrooms while saving money," said Tony Soh, chief corporate officer, The Ascott Limited. There are noticeable trends in the serviced residence industry, customers want more choices and flexibility. Ascott's three brands of serviced residences – Ascott , Citadines and Somerset – allow the serviced residence to cater to customers' different lifestyle needs. Ascott's brand premier serviced residences offer residents discreet service in an exclusive environment. Citadines Apart 'hotels provide flexible options to suit the lifestyle needs of independent travellers. Specially designed for families, Somerset's serviced residences offer more recreational facilities such as playgrounds, tennis courts and swimming pools. Customers today are also more sophisticated and savvy in using technology. Thus, they expect quick and easy access to information 4 | ■ TRAVELWEEKLY ASIA | 07 DECEMBER 2010 and booking capabi l it ies at any time of the day. As par t of the ongoing ef forts to enhance their customers' experience, Ascott has launched a 'Best Rate Guarantee' initiative of fering travellers the lowest available Internet rate when they book through any of Ascott's websites. Ascott is the fi rst serviced residence company to offer 'Best Rate Guarantee', so that guests can enjoy peace of mind when they book online directly with Ascott. Customers can also easily follow Ascott on Facebook and Twitter for updates and the latest promotions. "For Fraser, having Gold Standard serviced residences means not just quality products. Being able to anticipate the needs of our residents is key to staying relevant. For example, gyms at Fraser's residences now remain open 24/7. There are healthy options for breakfast at their dining rooms. Fast speed connectivity is a given. Fraser's apartments come with iPod docking stations and a comprehensive home entertainment Tony Soh, chief corporate offi cer, The Ascott Limited. system. In New Delhi, in addition to the washing machine and dryer and a dishwasher and refrigerator, Fraser's has also installed a freezer, because there is a need for it as residents will eat in more and they would not necessarily grocery shop daily. Increasingly, as travellers become more discerning, and when families travel together, serviced res idences wi l l become more www.travelweeklyweb.com

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