A great year for business travel predicted in 2014
Business confidence is sky high in the UK and the feelings of positivity are set to spread to the travel sector this year.
A new survey says business travel is set to go from “strength to strength” this year as confidence increases. The survey, conducted by the GTMC looked at sales in the sector in the final quarter of 2013. Compared with the same period of time the year before, sales were up 7%. The growth is actually higher than that of the UK GDP, which stood at 0.7% meaning business travel is outperforming the economy.
The survey results showed hotel sales rose by 15 % with a rail increase of 7% and air sales by 4%.
In addition to this a second report by property experts Jones Lang LaSalle suggests the UK’s serviced apartment sector is up with more customers and more people spending money. Across the country, the average occupancy in 2013 was 80%; in London it rose to 84% with average weekly takings up 5% on the previous year.
The report also found the sector has potential for growth and could offer more profits for investors than hotels. Anecdotally, those within the industry believed 2014 had started optimistically and that an increasing amount of guests were looking to stay in apart-hotels and serviced apartments, whether their visit is for business or leisure purposes.
The news is good for Clarendon Serviced Apartments whose main market is business travellers looking for flexible and affordable places to stay in London. As a firm we have seen an increase in business travellers recently coming from across the world, including Asia, the Americas and Australia. Much of our development in opening new apartments in the West End, like in Soho, has been to keep up with that demand.
Increasingly we have seen that business travellers are looking for increased flexibility; they want the place they stay to be centrally located, to offer a stepping stone into a great nightlife and attractions outside of office hours but not to diminish on amenities. A serviced apartment uniquely provides privacy, space and services that make it easier for the business traveller to control their stay. A fully fitted kitchen, for example, enables the traveller to prepare their own meals. An apartment is larger than a hotel room offering a more comfortable stay and facilities like weekly housekeeping and Wi-Fi make it easier for them to live stress-free. Increasingly the serviced apartment is becoming the first choice for business travellers over hotels for extended stays at it is cheaper as well as serving their needs more comprehensively.
For those looking for a place to stay in London as a business (or leisure) traveller, Clarendon has serviced apartments available for extended stay in the West End, The City, Canary Wharf, Soho and to the South West of the capital. Enjoy a virtual tour of an apartment to find out whether it suits your needs for your visit.