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Think Global People Relocate Awards 2024 iconOut nowMagazine

Summer issue

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Think Global People Relocate Awards 2024 iconOut nowMagazine

Summer issue

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The 2024 Global Serviced Apartment Industry Report (GSAIR) depicts a sector that is facing challenges but also presents ample opportunities.

by | Jul 2, 2024

Technology tipping point, sustainablity remains key, AI impact to be determined – in such an interesting landscape for serviced apartments, corporate usage remains stable, growth is conservative, and optimism is mixed.

Ariosi is proud to publish GSAIR Survey and Results for the 2nd year in its stewardship – GSAIR has come a long way since 2008 (10 editions ago).

The cornerstone of GSAIR remains in its global survey and in those that power it with their organisational responses and data.  Serviced apartment operators, agents and corporate buyers of temporary living products continue to hold GSAIR in high regard, as the place to come for an annual amalgamation of survey results, data analysis and expert industry commentray and opinion.

This year, Ariosi will continue deliveringthe publication in bitesize pieces to enable a more consumable approach.  Firstly, the annual survey results and supporting commentary and supplementary articles, next, regional reports with specificfocus on trends or challenges in those regions.

Ariosi Group Limited COO, Joanna Cross said:

‘I’m delighted to share the 11th edition of GSAIR with you, 16 years since the first publication.  This year, like many years before us, we bring a top-notch list of contributors to the report and we’re humbled by the commitment and dedicationshown by so many.  In a landscape that continues to be a little bumpy, it’s heartening to deliver a project that epitomises true partnership and collaboration, whilst also continuing to serve the goods in thought leadership.  We are excited to continue the long and valuable tradition for the most trusted report in our industry.’

Launch event

To celebrate the launch of the 11th edition, a presentation disucssing the key insights of the report, a panel discussion with industry experts and a networking lunch took place on the 27th June at Charlotte Street Hotel, London.  The panel compromised of:

  • Chris Orme, Global Director of Sales and Business Development at edyn
  • Leanne Fowler, Director of Account Management at Clarity Business Travel
  • Nouran Zarroug, Founder and Director of NuLight
  • Steve Lowry, CEO of The Residence

Key GSAIR 2024 findings

Stabilised corporate demand

  • Corporate travel has levelled off following a peak in 2022 and has declined since 2023.
  • Post-pandemic reviews and a focus on sustainability ha sled to fewer but longer stays.

Sustainability remains a priority

  • Environmental, Social, and Governance (ESG) considerations are increasingly important in corporate RFPs.
  • While larger brands are adapting, smaller operators risk falling behind the curve in meeting the requirements.

Technology demands

  • The increased interest in AI has left many in the sector wondering where AI plugs in best.
  • Buyers are on the hunt for technology that offers more choice, is consumer grade, efficient and offers a slick user experience.
  • Outdated technology is a major frustration for buyers and guests – the square peg, round hole adage no longer washes. Sourcing needs to get slicer.

Impact of geopolitical and economic factors

  • Increase in interest rates, building rates, and rise in regulatory demandsa re impacting margins, discouraging new builds.
  • The relocation market remains subdued and corporate travel demand has softened.

Hotels are taking their piece of the pie

  • The competitive advantage enjoyed by serviced apartments post-pandemic has been eroded by hotels.
  • Hotel chains are reacting to fragmentation of the extended stay sector by launching their own extended stay brands.

For more details, or to register for a free digital coy of the GSAIR report, contact gsair@ariosi.com or visit https://www.ariosi.com/gsair/

 

 

About Ariosi Group Limited

Ariosi are a serviced apartment consultancy.  We provide bespoke, independent and specialist advice to guide busines objectives and lift standards.  Our services include data-driven analysis, supported by tools and reports, to assist in planning and decision-making. 

We specialise in curating and delivering industry-specific training courses and workshops that aim to improve capability, productivity, and performance.  We collate, compile, and publish the Global Serviced Apartment Industry Report (GSAIR).  Ariosi also develops, resources, and runs the multi agent aggregator platform known as OrbiRelo.


Find out who won the Best serviced apartment provider category at the Think Global People and Relocate Awards Gala Dinner and Ceremony on 6 June at Two Temple Place.

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Read about award-winning global mobility, leadership and education in the Summer issue of Think Global People magazine, with the teams and organisations being celebrated in the Relocate Think Global People Awards 2024. Read now.

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