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Follow on Google News | 6 Serviced apartment trends for 2017 by Serviced Apartment NewsWith the serviced apartment industry booming across the world, here is a shortened version of the top six trends to watch for in 2017, as highlighted by Piers Brown from www.servicedapartmentnews.com
By: Serviced Apartment News Regardless of the bold PWC forecasts of increased GDP worldwide, due to increased legislation and numerous regulatory clampdowns the growth rate of operators such as Airbnb and Uber is slowing down. Airbnb is causing disruption within residential communities, worsening Britain's housing crisis whilst Uber is constantly facing legal issues with employment laws. According to JPMorgan Chase Institute, average monthly earnings peaked in June 2014 for companies such as Uber or Deliveroo). The UK unemployment rate is the lowest of the past 11 years, meaning many consumers are losing interest in sharing economy platforms. Companies trying to imitate Airbnb's model will become extinct in 2017, unless clearly differentiated. 2. Serviced apartments and select service hotels converge - the full service hotel becomes obsolete The demand for serviced apartments and select service hotels is constantly increasing as a result of listening to what the customer really wants whilst embracing on-demand economy. Due to the growth of the on-demand services, the need for full-service hotels will disappear. According to Greg Marsh (ex CEO for OneFineStay, now owned by Accor), there are two options for hotel survival: be "ridiculously" 3. Everyone is one in a million "Travel is inconvenient, anonymous and uncertain" (Frits van Paasschen, former Starwood CEO), with digital (http://www.servicedapartmentnews.com/ 4. Too many URL's There is an increased focus on making physical travel and the hospitality experience easier, whilst still engaging face to face with guests during the process. Aparthotels, which offer the benefits of an apartment stay coupled with a first rate service element will become more popular. 5. Balance of power heads East Serviced Apartment News has featured numerous stories on how the hospitality power is heading East throughout 2016. This is due to the influence of the Chinese travellers, rise of Ctrip and Alibaba, and the emergence of Middle Eastern serviced apartment investor and increased Asian air routes. 6. Democratisation of fairness Democratisation of fairness is a millennial ideology emphasizing equal access to brand experiences, with Airbnb being the perfect example for the hospitality industry. With millennials seeing travel as a vital life experience, serviced apartment brands have to tailor the experiences they offer while maintaining an affordable price. Without clear differentiation, short-term rental companies similar to Airbnb will fail. Click here to read the full article: http://www.servicedapartmentnews.com/ ENDS About Serviced Apartment News http://www.servicedapartmentnews.com/ Serviced Apartment News is the online brand bringing together leaders from across the growing serviced apartment, extended stay, aparthotel and short term rental sectors of the global real estate industry. We provide the latest news and comment, share best practice with a view to driving the sector forward. The company hosts the annual Serviced Apartment Summit B2B conferences in - New York - www.servicedapartmentsummitamericas.com - 10-11 April, 2017 - London - www.servicedapartmentsummit.com 12-13 July, 2017 - Dubai - www.servicedapartmentsummitmea.com October 2017 The company also hosts the International Serviced Apartment Awards, March 20th 2017, attended by over 350 industry leaders to collectively recognise true individual and company excellence within the sector – for more information log onto www.servicedapartmentawards.com/ About International Hospitality Media International Hospitality Media is the premier specialist in online publishing; conference, exhibition and event organisation, and advisory services for niche growth sectors of the hospitality industry. The company publishes two industry-leading b2b websites - BoutiqueHotelNews.com and ServicedApartmentNews.com, which keep their respective sectors up to speed with news, comment and opinion. Our events are renowned for their intense focus and attract quality industry leaders and brands, providing unparalleled networking and learning opportunities. Visit website here (http://www.internationalhospitality.media/): Press release issued by International Hospitality Media, Tel: +44 (0)20 8340 7989. End
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