The Association of Serviced Apartment Providers (ASAP) is confident of doubling its size by the end of this year, as it reported membership up to 90 (from 74 in 2014), a 20% increase during the last quarter.
Large and small
ASAP managing director James Foice said the new members were a mixture of significant multinational businesses and smaller independents, making it clear that “ASAP is the dedicated and recognised representative for our sector in this country.” He added: “Four new members joined in the last fortnight alone.”
Strong pipeline
Foice said that membership growth was mirrored by new serviced apartment units coming on stream. To date we know of nearly 850 new apartments being opened during this year, a six per cent increase on the current stock, but we expect that figure to rise substantially.”
High occupancy and quality assessment
ASAP members continue to achieve high occupancy. In 2014 the average occupancy in London rose to 84.5% (a 2.1 % increase on 2013) while occupancy for the rest of the UK rose to 81.98% (a year-on-year increase of 2.6%).
Foice said that the sector was increasingly looking to target leisure travellers, as well as the corporate sector. “ASAP’s quality assessment programme has strong appeal to families visiting the UK, who, like business travelers, want to know that units have been properly assessed and they know what they’re getting for their money,” said Foice.
Looking ahead, Foice said that ASAP plans to increase the outward promotion of the ASAP and the sector as a whole. “Generating exposure for the qualitymarque is critical, and we will hold more networking events this year as well as the regional meetings and a summer educational forum. We want ASAP to be the default trade association for operators who want to do business in the UK.”
About ASAP:
ASAP is the trade association for the UK serviced apartment sector. Its 90 members own and operate over 14,000 properties throughout the UK and Ireland, in every major city. Its membership also includes a number of serviced apartment agencies. The industry generates annual revenues of £500m, and sells three million accommodation nights each year.
Founded in 2002, members range from large international companies to small independent operators so represent the full cross-section of the industry in the UK.
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