The COVID era gave opportunities to better and improved accommodation facilites while social distancing was adopted as a general norm!
Hospitality industry in the UK is huge similar to any other part of the world! The national hospitality industry generated over GBP 73bn of Gross Value added directly to the economy while an additional GBP 87bn indirectly. In the UK it is also the fourth largest job provider.
During the COVID blowback, the global hospitality industry probably took the worst hit due to the national and international travel restrictions. However, with the global markets slowly approaching normalcy and nations adhering to quick vaccinations for masses, it is expected that the industry will be back on its routine very soon.
The COVID impact!
The COVID era also gave opportunities to better and improved accommodation facilites while social distancing was adopted as a general norm. This also brought new opportunities for Serviced Apartment owners who have seen a growth in demand over past couple of years.
With the coronavirus wrecking havoc around the world, our world views regarding health care, hygiene and, life were challenged but we have learnt a profound number of self-improving lessons that are here to stay for a long time. For example, an average travelller now gives precedence to hygiene and saftey than anything else. While luxury and experience still continue to be the priorities, Serviced Accomodations have the potential to replace long stays at hotels.
Hospitality Industry is a giant investment magnet with major conglomerates rushing to invest in hotels, giving the guests limited convenience while charging an exorbitant fee in exchange. Opposed to hotels serviced apartments offer quite an experience and value to guests.
Serviced accommodations have been in the market for long but only now are they gaining more popularity, thanks in large part to coronavirus spotlighting a trend that was pushed by services like Airbnb. With the onset of the lockdown, a lot of hotels had low occupancy rates and low demands but with a staff that looked excessive in comparison. Anyone who was travelling during 2020 found themselves unable to bear the outrageous costs of living per night at a dingy room and having to pay extra for day-to-day necessities like Wi-Fi, laundry services, Broadband, etc.
Hotels VS Serviced Apartments
While staying at a hotel was a common trend pre-covid, people have found that staying at a Serviced Apartment can take care of their needs for 30% less price on average than the hotels. Serviced Apartments have a Wi-Fi, a fully equipped kitchen, a washer and dryer and a living room with TV as a staple. The cost of all of these services is included in your fee and can be used anytime without the fear of being charged extra. There is no compromise in question in terms of a quality stay, as they are well furbished to look like a luxury hotel room while also keeping the comfort of the guest in mind.
What the future holds!
Now, with the coronavirus, contactless check-in is more common among these apartments and have minimum in-person contact except for cleaning services, which a lot of guests have chosen to do themselves to avoid further risks. Desk space is also increasingly considered as a necessity by guests and have been growingly tended to. Some of these apartments also have other facilities like gyms and pools if any long-term guests wish to keep up with their physical routines.
More than the amenities, these apartments can be found in the heart of a city, but charge a smaller fee than the hotels that are in the same neighbourhood, giving people some space literally and figuratively to venture into the city or even have some people over for a meeting or for a dinner party.
Serviced Accommodations, because of their ability to adapt to changing needs, have been able to weather the storm better than their counterpart. Even though their notoriety was slow in the making, it is in for the long game where patience pays off. Serviced accommodations are the best stay option for anyone who is travelling, lockdown or not as more people continue to see the benefit in staying in these apartments.