European Serviced Apartments Boom as Operators Head Towards New Markets, Says HVS Survey

HVS | July 10, 2018

10 July 2018, London: The European serviced apartment sector has boomed in the past year, with approaching 20,000 units planned for the next five years and some operators within the region interested in expanding into new markets such as Eastern Europe and even the US. According to a survey of leading serviced apartment operators undertaken by global hotel consultancy HVS, the sector saw impressive growth in 2017 with increases in RevPAR (rooms revenue per available room) in London, the UK regions and across the rest of Europe. While operators say their biggest challenge is competing against hotels for central sites, growing demand for ...