extended stay

Resource Type
INtel – A Bimonthly Guide

Intel Jan. 2021: Serviced Apartments and Extended Stay

Summary

The hotel sector has faced challenges the like of which it has never seen before, with governments around the world shutting down travel and companies limiting the movements of their employees. A sudden slowdown to standstill which came out of nowhere and was not the sector’s fault.

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    Video - In Focus
    Robert Alley, COO at Roomzzz Aparthotels joined Katherine Doggrell last week to discuss how the pandemic has affected their organisation and expansion plans.  An example of a company who have managed to retain some healthy occupancy levels and perhaps a bright spot during the difficult results season we are hearing about elsewhere. Roomzzz supported the NHS initiative during the height of the pandemic and went after the the extended stay side of their business. "The beauty of aparthotels is that we could do something that hotels couldn't, offer a solution which people still needed" averaging a 70% - 75% occupancy through lockdown and sustained these numbers ever since.  Robert foresees the extended stay sector to remain strong despite the loss of the leisure market due to lockdown restrictions.  The lease structure is something they have discussed with their landlord through open dialogue however he describes the need for a convergence of healthy lease models such as hybrid leases that work for all stakeholders. If you missed our weekly In Focus episode, catch up here now. 
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