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Serviced Apartments..... a great alternative to Hotels

Eponential Market Growth

The last 10 years have seen an exponential growth, year on year of the number of Serviced Apartments being made available to the hospitality industry. The popularity amongst hotel users in the last 12 months has been astonishing and is set to continue to rise over the next decade.

Without doubt the offering is a major sea change in the thinking of those who have needs to stay for several days and weeks in a traditional hotel and prefer the safety and intimacy of a home environment that a serviced apartment offers, but without having to enter into complex arrangements.

Why has this Explosion of Interest taken Place?

Well, the advantages are immense in that this new sector of accommodating hotel guests operates in a very similar way as Hotels do. No deposits are taken, no contracts are required, an all inclusive package of one rate either per night or per week, weekly maid service to clean the apartments and provide fresh linen and even now a concierge service heralds the change and benefits towards a home environment.

The beginnings of Serviced Apartments in Milton Keynes go back 12 years when Cotels Ltd identified a gap in the short/medium term hotel market. They discovered that many people who were relocating to Milton Keynes or those on secondment had only two choices. Either they stayed in hotels, or had to seek furnished accommodation in the AST market in the hope that they could do a deal for less than 6 months. Neither of these solutions were equitable for the obvious reasons. Cotels pioneered in Milton Keynes the solution, being Serviced Apartments as what it is today.

High Expections from End User

Generally, the market demands today are that the units should be furnished to a very high turnkey standard, have Wi-Fi broadband, home office facilities and full satellite TV packages. Cotels addresses all these needs and more.

Serviced Apartments are ideal for the business user who is more than likely to have a requirement for a week or more. Female travellers are particularity fond of this new alternative as it provides security and freedom and a feeling of well being whilst travelling and being away from home for longer periods. 

Frequently the option of home from home serviced apartments are being sought from major companies who have training and large secondment programmes. Often the delegates are from overseas and they particularly like this comfort and privacy that serviced apartments offer, especially as they often bring with them their wives and children.

Local and Worldwide Choice of Locations

The choice of availability is immense with Cotels offering 6 separate sites in Milton Keynes. Three sites are located in the City Centre within the framework of the new swish high rise developments at the Hub, Theatre District and Vizion which has just opened. The North, West and South are also served with easy access sites in Shenley Church End, Simpson Village and Lea Meadows which are still all within a 5-10 min drive of the Centre.

Cotels now operate a Worldwide Service where they can place a guest into any apartment in most major cities in the world. This is of great benefit to the personal assistants and secretaries of International companies where they can not only use the local supply market, but in a 'one stop shop' scenario, place any delegate internationally.

Competitive Pricing

Pricing across the board for a 1 bedroom apartment say in the City Centre are more than favourable when compared with the equivalent accommodation that hotels offer for the same star rate quality. The floor areas are normally 3 times that of a standard hotel room and the facilities are far greater. By and large a 1 bedroom turnkey apartment costs around £500 per week and is around 30% cheaper than a discounted 4 star hotel rate.  Nightly rates are also becoming a common feature of serviced apartments which is another sign of acceptability and proving to be a serious competitor with hotels.

Cotels can be contacted on 01908 802 853

Source: Inside Business 28.02.08