|More demand for Serviced Apartments: Long stay apartments are gaining more and more fans.|
Sunday, 4th May 2014
Source : TOPHOTELPROJECTS
Furnished apartments for business travelers especially asked in fair cities - mixed concepts from a hotel and boarding house are in trend.
The business travel market is booming in Germany - and so for Serviced Apartments-. With over 1.3 million overnight stays in serviced apartments, the capital Berlin comes first, followed by Munich with 986.000 overnight stays and Hamburg with around 526,000 overnight stays.
In Berlin there are about 3,700 serviced apartments, about 1,600 in Hamburg and Dusseldorf in just 900. And more apartment buildings will be built according to TOPHOTELPROJECTS, the leading information provider for hotel chains and hotel projects built.
Selected construction projects for "short-time" in the overview:
New construction: Derag Hotel and Living Hotel Di Medici in Dusseldorf
172 residential units
Scheduled opening: July 2014
New construction: apartment house "Neulšnder Quarree" in Hamburg-Harburg
Operator: Olympic Hotel Group (NL)
Scheduled opening: March 2015
New construction: Boardinghouse Olympic gate in Munich
Scheduled opening: March 2015
New construction: Boarding House Oskar Residence in Frankfurt / Main
Scheduled opening: October 2015
Extension Fleming's Deluxe Hotel in Frankfurt / Main
Expansion to 97 rooms and 8 suites on a total of 203 rooms units
Completion: September 2014
New construction: Hotel & Boardinghouse project at the Central Hospital in Villingen-Schwenningen
110 rooms, of which about 70 apartments
Opening: end of 2015
Around 1,100 Serviced Apartment establishments already exist in Frankfurt / Main - and the demand continues rising. According to a study by the company Georg Consulting, there are annually about 360,000 overnight stays in serviced apartments. This corresponds to a market share of around five per cent of all overnight stays in the banking metropolis.
The average lower price for an overnight stay in a serviced apartment after all concepts and stay time is in Frankfurt at 68 euros per night. The average prices range from 80 euros to 200 euros per night. The average operation size in Frankfurt is more manageable with 47 apartments/operation (eg Berlin 56 apartments/operation and Munich 95 apartments/operation).
The last few decades international trend observed an increase of Long Stay Apartments as a result of mobilization and globalization of the economy. Especially workers who must change their location work very often, or for a certain period of time, the so-called "job nomads", contribute to the Boarding House or Property Serviced Apartments an increasingly important role.
The regional Boarding House markets differ significantly from one another. The reasons for this include the appropriate regional economic structure and thus the trim on specific companies and industries as drivers of the demand for short-term accommodation. In summary shows that the proportion of overnight stays in serviced apartments in banking and trade fair cities are the highest. Most of the times mixed concepts (hotels with built apartments) are made.
The highest market share, measured by the share of overnight stays in serviced apartments in total nights), the global trade fair city of Hanover with 12.6 percent. In Munich, accounts for about eight per cent, accounts for five per cent in Hamburg, Berlin 5.3 percent, 7.1 percent in Stuttgart and Leipzig in 4.6 percent of the total nights on serviced apartments.
Around 80 percent of surveyed providers of serviced apartments estimate the future general market performance as growing. Only about 20 percent expect a constant development. From a market downturn no one assume from the respondents. As for the future in greater demand supply form see 80.5 percent of the surveyed houses a clear trend for mixing concept. Only a fifth of the surveyed houses keep pure boarding houses for the supply form in the future.
Further information: www.tophotelprojects.com