INtel – A Bimonthly GuideIntel Jan. 2021: Serviced Apartments and Extended Stay
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.
While hoteliers cut costs and looked to leap onto the Working From Hotels trend, there were areas of resilience in the form of serviced apartments and extended stay, many of which were able to stay open and, because of leaner operations, were able to break even at much lower levels of occupancy than traditional hotels.
They are now looking to capitalize on the move into the leisure sector and attract attention from investors who want something to hedge against their more volatile hotel holdings.
Fronts Eyebrow DescriptorUK hotel marketThe AHC Advisory Board assembled, for the second time this year, to discuss the world we now find ourselves in. Participants included representatives from independent owner/operators, international brands, extended stay, DMOs, developers, funders, landlords and advisors, and unsurprisingly the experiences of the last 127 days varied significantly.