Ninth Edition of GSAIR launched by Habicus Group and Travel Intelligence Network
Key GSAIR 2022 findings:
Despite the pandemic, the serviced apartment sector has continued to grow its share of corporate accommodation spend.
15% of UK businesses increased their overall use of serviced apartments during 2021.
52% of corporates and 60% of TMCs say their use of serviced apartments for relocation purposes has increased since 2020.
This trend is set to continue, according to the newly published Global Serviced Apartment Industry Report 2022 (GSAIR), with 9% of companies having added non-hotel accommodation options to their travel programmes since Covid struck.
Other top-line findings from the 45,000-word report include:
- Business trips in 2022 will continue to be fewer in number, but of a longer duration.
- The proportion of 7–14-night business trips in 2021 was double that of 2019.
- 39.2% of business trips in 2021 were of eight nights or more.
- Travellers now have an unprecedented level of accommodation choice as employers provide greater flexibility in travel policies.
- 23% of businesses now have formal agreements with serviced apartment or home stay brands.
- The global reach of the sector also continues to expand – 77% of global supply was in the USA in 2007, compared with just 52% today.
- The global supply of serviced apartments and corporate housing now covers 17,054 locations.
- 68% of operators plan to open more apartments in existing locations – the highest since GSAIR began reporting.
- Sustainability, ESG and personal safety now head the priorities for both travellers and their employers.
- During Q4 2021 and Q1 2022, supply shortages drove prices up by 10% for one-bed apartments, 30% for two-bed apartments and 40% for three-bed apartments vs. 2019.
Background and launch
Originally launched in 2008 by The Apartment Service (TAS) and compiled by Travel Intelligence Network (TIN), GSAIR is an annual compilation of industry insights, data, and expert commentaries on the serviced apartment and corporate housing market.
This year’s edition is the first since TAS was acquired by Habicus Group in September 2021 and has been a collaborative effort between TAS, TIN, and SilverDoor Apartments.
The 2022 edition once again brings together the latest data from recognised industry sources, along with first-hand research conducted amongst corporate buyers, intermediaries, and operators.
This year’s GSAIR includes interviews with over 70 industry professionals, including articles on topics ranging from Alternative Accommodation Models and Is Accreditation Important? to an update on global supply and the top 15 serviced apartment brands.
Group CEO, Stuart Winstone, said:
“Before we acquired The Apartment Service, we regarded GSAIR as a jewel in their crown, so we are delighted to bring the report into the SilverDoor family. We have exciting plans for GSAIR and look forward to ensuring the report continues to meet the needs of clients and partners alike.”
To celebrate the launch of this year’s GSAIR, a round-table seminar and wellness breakfast was held on Thursday 30th June at South Place Hotel, London. The event included a presentation of key GSAIR findings, hosted workshops, and a facilitated discussion where guests posed questions to a panel of serviced accommodation industry experts comprised of
Carol Fergus, Director of Global Travel, Meetings and Ground Transportation at Fidelity International.
Linda Bekoe, CEO, APLBC
Lucky Nwosu, Vice President, Rehoboth Property International
George Sell, Editor-in-chief, International Hospitality Media
Joanna Cross, specialist in serviced apartments, hotels, and accommodation solutions.