What is classed as serviced accommodation?
What is classed as serviced accommodation? They are fully-furnished properties rented out to tenants for a short-term period and include amenities that you'd expect from a hotel in the cost.
What is the advantage of serviced accommodation?
A serviced apartment can be a more economical choice, even more so than a rental property. Rates usually include utilities, housekeeping and amenities, protecting guests from unexpected and hidden costs. Serviced apartments charge per rental unit instead of person, making it a very cost-effective option.
What is the future of serviced accommodation?
The serviced accommodation industry has experienced remarkable growth in recent years, driven by evolving travel preferences and the rise of platforms like Airbnb and Booking.com. According to industry reports, the global serviced apartment market is projected to grow at a CAGR of 7.9% from 2021 to 2028.
What is the disadvantage of living in a hotel?
One of the biggest disadvantages of staying in a hotel residence is the cost. These types of accommodations can be quite expensive, especially if you are staying in a major city. If you are on a tight budget, then a hotel residence is probably not the best option for you.