“The number of Serviced Apartments has grown by over 15% to nearly 524,000 units worldwide in the last year…”

…says Charles McCrow, MD - The Apartment Service and publisher of the 2010 Global Serviced Apartments Industry Report (GSAIR 2010).

The Apartment Service is pleased to announce the publication of the second Global Serviced Apartment Industry Report. This edition is an update to the report published in September 2008.

“…In comparison with our last report, the total number of serviced apartments has grown considerably. The number of serviced apartments shows an increase of 11.2%, whilst the corporate housing total has risen by 53.7%. The total apartment listings worldwide, compared to 2008 have grown by 15.9% to 523,922…”

Under the spotlight in the GSAIR 2010, are the major challenges facing the serviced apartment sector around the world in light of the recent economic 2 year downturn and how this has affected the sector in 6 key regions.

The report, which asked over 3,000 operators to contribute, looks at the commercial and structural changes in the sector in these regions, the problems that apartment operators face and the solutions they are developing to grow this sector profitably.

The conclusion of the report is that the serviced apartment sector, as a whole, is optimistic about the future.

Serviced apartments are becoming more and more an essential part of the ’thinking process’ on how SME and large corporate clients handle their staff accommodation requirements and this includes Hotel Booking Agents and Travel Management Companies.