Serviced apartments rise in popularity around the world
Friday, October 4, 2013
Hotels have long been a popular lodging option for business and leisure travelers, but that's beginning to change. A number of countries around the world - from Australia to India to Singapore - are seeing a growing interest in serviced apartments, according to a number of different reports.
In India, the rising popularity of serviced apartments can be seen in the number of investors putting their money into these fully-furnished real estate opportunities. There has been such an increase in interest due to the fact that many multinational firms have made use of serviced apartments as guest houses, according to the Business Standard.
"This segment offers ultra-luxury lifestyle, services and great opportunities for investors who look for both regular income and additional upsides," industry insider Samir Jasuja told the newspaper.
A recent report from Australia echoed the findings in India. Business analysts at IBISWorld found that serviced apartments have been the strongest performers in the acclamations subdivision over the past 10 years. In fact, they vastly outperformed hotels and motels, which have struggled in recent years.
That serviced apartments have risen in popularity should come as no surprise. In addition to offering more space than a hotel room, these fully-furnished apartments come with a kitchen, among many other luxurious amenities, so travelers can feel right at home while on the road.