Are Serviced Apartments in Birmingham Becoming a Threat to Hotels?
There has been an increase in popularity and demand for Apartments in Birmingham since the credit crunch and banking crisis hit UK around 2008. The effect of decreased lending for home buyers, fluctuations in property value and unstable interest rates has created a trend for new home buyers to safeguard themselves from investing in higher budget homes thus forcing themselves to invest in more affordable accommodation types as apartments.
Amongst the most common buyers are young couples and professional or migrants that move in the city for new jobs and prospects which prefer an apartment close to Birmingham city centre. Other than personal home buyers this trend has created an opportunity for investors and developers to buy blocks and build to offer short stay accommodation as an alternative to hotels.
This type of accommodation takes the term of short stay apartments which are essentially nothing less than a usual apartment but regularly serviced and prepared for new visitors in the same way as hotels rooms. The more common term is therefore used as serviced apartments in Birmingham and the rest of UK.
In Birmingham the serviced apartments sector is a fast growing and high yielding business directly correlated with the increase of visitors who prefer to make their short stay in luxury apartments Birmingham. One of the key benefits is the value for money per person according to the space and amenities provided compared to a hotel room especially when staying in a group. It allows a group to stay together in a single accommodation with up to 3 bedrooms some providing additional sofa beds to accommodate larger groups of 8-10 people.
Due to the comfort, homely environment and benefits over hotels, short stay visitors often extend their stay for long weekends during a break, special occasions, and attending public events. As the apartments provide ample living space it is also become an increasingly popular mode of accommodation for out of town visitors who attend private functions such as weddings or parties.
Due to the fact most serviced apartments are located in the city centre close to transport links, exhibitions centres and conferencing hotels it is becoming increasingly popular for corporate stays. Apartments for corporate visitors are often extra equipped with fast internet access, study desks with PC, direct dial lines and printing facilities.
Although these type of apartments have many benefits they do differentiate a lot from hotels which have their own set of benefits and preferences which for some will outweigh the decision to where to stay. When choosing a place to stay there are always pros and cons and in most cases hotels still prevail as the traditional and most favoured mode of short stay accommodation in the world for tourists and locals. Although taking a chunk of the short stay industry with all the facts and figures, pros and cons, serviced apartments Birmingham still have a lot to do before it can be seen as a major threat to hotels.
Amongst the most common buyers are young couples and professional or migrants that move in the city for new jobs and prospects which prefer an apartment close to Birmingham city centre. Other than personal home buyers this trend has created an opportunity for investors and developers to buy blocks and build to offer short stay accommodation as an alternative to hotels.
This type of accommodation takes the term of short stay apartments which are essentially nothing less than a usual apartment but regularly serviced and prepared for new visitors in the same way as hotels rooms. The more common term is therefore used as serviced apartments in Birmingham and the rest of UK.
In Birmingham the serviced apartments sector is a fast growing and high yielding business directly correlated with the increase of visitors who prefer to make their short stay in luxury apartments Birmingham. One of the key benefits is the value for money per person according to the space and amenities provided compared to a hotel room especially when staying in a group. It allows a group to stay together in a single accommodation with up to 3 bedrooms some providing additional sofa beds to accommodate larger groups of 8-10 people.
Due to the comfort, homely environment and benefits over hotels, short stay visitors often extend their stay for long weekends during a break, special occasions, and attending public events. As the apartments provide ample living space it is also become an increasingly popular mode of accommodation for out of town visitors who attend private functions such as weddings or parties.
Due to the fact most serviced apartments are located in the city centre close to transport links, exhibitions centres and conferencing hotels it is becoming increasingly popular for corporate stays. Apartments for corporate visitors are often extra equipped with fast internet access, study desks with PC, direct dial lines and printing facilities.
Although these type of apartments have many benefits they do differentiate a lot from hotels which have their own set of benefits and preferences which for some will outweigh the decision to where to stay. When choosing a place to stay there are always pros and cons and in most cases hotels still prevail as the traditional and most favoured mode of short stay accommodation in the world for tourists and locals. Although taking a chunk of the short stay industry with all the facts and figures, pros and cons, serviced apartments Birmingham still have a lot to do before it can be seen as a major threat to hotels.
